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M&M Shares Jump 4 Percent as Brokerages Remain Bullish on Auto Growth Despite Tractor Concerns
Mahindra and Mahindra shares surged 4 percent on November 6, extending their post Q2 rally and emerging as the top Nifty 50 gainer. Brokerages maintained a positive outlook on the company, citing strong SUV demand, new launches and capacity expansion, although concerns over slowing tractor sales remain. CLSA sees 49 percent upside potential in the stock.
By Finblage Editorial Desk
4:57 pm
6 November 2026
Shares of Mahindra and Mahindra surged 4 percent on November 6, extending the rally following the company's second quarter results. The stock emerged as the top gainer in the Nifty 50 index as brokerages remained optimistic about its growth prospects.
Analysts maintained a bullish outlook on the automobile manufacturer, supported by strong demand for sport utility vehicles, upcoming product launches and capacity expansion initiatives. These factors are expected to support the company's growth momentum in the automotive segment.
CLSA maintained a positive view on Mahindra and Mahindra and sees potential upside of 49 percent in the stock, reflecting confidence in its business prospects.
However, analysts also highlighted concerns regarding slowing tractor sales, which could pose challenges for the company's agricultural equipment business. The performance of the tractor segment remains an important factor for investors monitoring the company's overall growth outlook.
Despite these concerns, brokerages continue to favour Mahindra and Mahindra, with expectations of sustained growth in the automotive business supporting positive sentiment towards the stock.
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