Name: Latest research reports of Mahindra & Mahindra Ltd. authored by BOB Capital Markets Ltd. and published by - Trendlyne research reports.
Item: Mahindra & Mahindra Ltd.
Rating: 5
Author: BOB Capital Markets Ltd.

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	08 Feb 2025	Mahindra & Mahindra	BOB Capital Markets Ltd. Target	2596.55	3689.00	3198.45 (-18.82%)	42.07	Buy	pdf post cache	Broker Report Mahindra & Mahindra (BUY): All the segments delivering healthy performance; Maintain BUY BOB Capital Markets Ltd. Automotive and tractor segment volume grew in double digits by ~16% /20% YoY; reflects strong show in festive/post-festive season pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	The Ramco Cements	BOB Capital Markets Ltd. Target	941.55	722.00	894.80 (5.22%)	23.32	Sell	pdf post cache	Broker Report The Ramco Cements (SELL): Challenges galore, early respite unlikely; maintain SELL BOB Capital Markets Ltd. Q3 revenue declined ~6%/3% YoY/QoQ as pricing pressures impacted realisations and profitability severely (down by 10%/5% YoY/QoQ) pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	Life Insurance Corp	BOB Capital Markets Ltd. Target	792.15	1071.00	816.10 (-2.93%)	35.20	Buy	pdf post cache	Broker Report LIC (BUY): VNB margins continue to expand sequentially BOB Capital Markets Ltd. APE and net premium income declined 24% YoY and 11% YoY; renewal premium rose 4% YoY in Q3FY25 pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	Britannia Industries	BOB Capital Markets Ltd. Reco Target	5023.40	4395.00	4870.50 (3.14%)	12.51	Sell	pdf post cache	Broker Report Britannia Industries (SELL): Sell: Inflation too high to offset with planned actions BOB Capital Markets Ltd. Compared to consensus, there was a beat on sales at 1% and on EBITDA at 6%. EBITDA beat on lower SG&A as a % of sales pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	Firstsource Solutions	BOB Capital Markets Ltd.	324.10	411.00	354.55 (-8.59%)	26.81	Buy	pdf post cache	Broker Report Firstsource Solutions (BUY): Posed to deliver industry leading growth in FY25 BOB Capital Markets Ltd. 3QFY25 broadly in line. Estimate organic growth in FY25 is likely at ~16% CC terms. Possibly second best in the Tierr-2 set pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	Alkem Laboratories	BOB Capital Markets Ltd. Reco Target	4828.70	4527.00	5151.35 (-6.26%)	Target met	Sell	pdf post cache	Broker Report Alkem Labs (SELL): Slower growth in a seasonally strong quarter BOB Capital Markets Ltd. Domestic sales were 6% below our estimates mainly due to slower recovery in the acute therapies and no price hike in NLEM portfolio pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	Hero MotoCorp	BOB Capital Markets Ltd. Target	3659.20	4892.00	4274.65 (-14.40%)	33.69	Hold	pdf post cache	Broker Report Hero Motocorp (HOLD): Steady drive to continue; maintain HOLD BOB Capital Markets Ltd. Q3 revenue grew by ~5% YoY to Rs 102bn, driven by realisation gains as volume growth stayed muted owing to fierce competition pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2025	Greenply Industries	BOB Capital Markets Ltd. Reco Target	270.00	360.00	298.40 (-9.52%)	33.33	Buy	pdf post cache	Broker Report Greenply Industries (BUY): Resilient performance; upgrade to BUY BOB Capital Markets Ltd. Broadly in-line operating performance; sharp beat in APAT by 53% in Q3 due to lower interest expense on account of forex gain pdf Copy Link Share on Share on Share on Share on Alert
	07 Feb 2025	State Bank	BOB Capital Markets Ltd. Target	767.45	972.00	737.20 (4.10%)	26.65	Buy	pdf post cache	Broker Report State Bank Of India (BUY): Higher CoF and lower other income; RoA broadly resilient BOB Capital Markets Ltd. PAT declined sequentially with lower NII and other income, RoA of 1.09% in 9MFY25 pdf Copy Link Share on Share on Share on Share on Alert
	07 Feb 2025	ITC	BOB Capital Markets Ltd. Target	409.70	551.00	430.85 (-4.91%)	34.49	Buy	pdf post cache	Broker Report ITC (BUY): Managing inflation BOB Capital Markets Ltd. Sales were 3% higher vs consensus likely reflecting strong cigarette volumes. EBITDA was 5% below expectations due to inflation pdf Copy Link Share on Share on Share on Share on Alert
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BOB Capital Markets Ltd. Broker Research reports

Latest broker research reports from BOB Capital Markets Ltd. buy, sell, hold, neutral recommendations along with share price targets forecast and upside.

Mahindra & Mahindra (BUY): All the segments delivering healthy performance; Maintain BUY

The Ramco Cements (SELL): Challenges galore, early respite unlikely; maintain SELL

LIC (BUY): VNB margins continue to expand sequentially

Britannia Industries (SELL): Sell: Inflation too high to offset with planned actions

Firstsource Solutions (BUY): Posed to deliver industry leading growth in FY25

Alkem Labs (SELL): Slower growth in a seasonally strong quarter

Hero Motocorp (HOLD): Steady drive to continue; maintain HOLD

Greenply Industries (BUY): Resilient performance; upgrade to BUY

State Bank Of India (BUY): Higher CoF and lower other income; RoA broadly resilient

ITC (BUY): Managing inflation

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