By SI Team
MAHINDRA AND MAHINDRA
Reco price/date: Rs 928/December 12
Current/Target price: Rs 948/Rs 986
Mahindra and Mahindra (M&M) has announced that it will increase the prices of its products by over one per cent from January 2013 to mitigate the impact of rising input costs, mainly from commodity prices, and also adverse currency movements. The price hike will be carried out across the commercial and passenger vehicle segments. Analysts believe that the price hike will not have a major impact on the company's volumes as it continues to witness strong demand. The stock is trading at 14.8 times FY14 estimated earnings. Maintain Accumulate.