M&M Shares Rally 3% as Brokerages Stay Bullish After Q1 Results

Mahindra & Mahindra (M&M) shares surged nearly 3% after the company’s Q1 results prompted a positive response from brokerages. CLSA retained M&M as its top pick in the auto sector, citing strong growth prospects, while Nomura expects margins to recover gradually, supported by healthy demand across the company’s key segments. Strong SUV and tractor performance continues to support the outlook, although elevated commodity costs remain a near-term concern. Overall, brokerages remain optimistic about M&M’s earnings trajectory and long-term growth potential. $M&M