M&M shares are now a 'high conviction' bet for CLSA; Nomura cites attractive valuations

Mahindra & Mahindra shares remain in focus on Friday, August 1, after CLSA upgraded the stock to 'High Conviction Outperform' with a target price of ₹4,588. CLSA likes the firm’s strong utility vehicle and tractor sales. Nomura also kept a 'Buy' rating, saying valuations look attractive for future growth.