Mahindra & Mahindra stock declines for second consecutive day - Is it right time to buy? Check target by brokerage

Mahindra & Mahindra share price target, XUV 700 Price Cut: Shares of Mahindra & Mahindra declined for the second consecutive day on Thursday. The counter opened in red at Rs 2,758 against the previous close of Rs 2732.10. It fell further to hit the day's low of Rs 2705.50. Last seen the scrip was trading at Rs 2724.20.

The 52-week high of the stock is Rs 3,013.95 and the 52-week low is Rs 1,418.55. The company's market valuation now stands at Rs 3,38,519.64 crore.

Mahindra Mahindra share price target 

Brokerage firm Morgan Stanley has maintained "overweight" on the M&M with a target price of Rs 3049

Morgan Stanley believes M&M will continue to be the fastest-growing passenger vehicle Original Equipment Manufacturer (OEM) in FY25.

Earlier on Wednesday, shares of Mahindra & Mahindra dropped nearly 7 per cent after the company cut prices of its SUV model to boost demand.

The stock tanked 6.62 per cent to settle at Rs 2,732.10 on the BSE. During the day, it tumbled 7.79 per cent to Rs 2,697.80.

At the NSE, it declined 6.68 per cent to Rs 2,729.90.

It was the biggest laggard among the BSE Sensex and NSE Nifty firms.