Street View: SUV momentum lifts optimism for India's Mahindra despite margin risks

Mahindra And Mahindra

06/05/2026 05:03

** Shares of Thar maker Mahindra and Mahindra MAHM.NS rise 3% to 3,307 rupees

** Stock is top boost in Auto sub-index .NIFTYAUTO, which is up 1.7%

** Company beats estimates for fourth-quarter results and expects mid- to high-teen growth in SUV volumes in FY27

SUV MOMENTUM SHINES

** BofA ("buy," PT: 3,900 rupees) says strong fourth-quarter execution, firm guidance and improving auto margins underpin earnings visibility

** Citi ("buy," PT: 4,470 rupees) says Q4 results beat estimates on better pricing; outlook remains positive driven by strong SUV demand

** Investec ("buy," PT: 4,270 rupees) says revenue strength offset a modest margin miss; highlights improving product mix and EV penetration, with earnings momentum expected to sustain

** Nomura ("buy," PT: 4,580 rupees) says growth visibility remains high on a strong SUV launch cycle across ICE and EVs, though near-term margins could face pressure from higher commodity costs

 (Reporting by Kashish Tandon in Bengaluru)

 ((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))