Stock market analyst Atul Badkar of Edelweiss Securities is of the view that investors can buy Mahindra & Mahindra Ltd stock to achieve a short term target of Rs 620.

According to analyst, the investors can buy the stock on declines.

Today, the shares of the bank opened at Rs 655 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 778 and a low of Rs 351.54 on BSE.

Current EPS & P/E ratio stood at 15.89 and 40.95 respectively.

Mahindra & Mahindra has showed keen interest in bankrupt Korean car manufacturer Ssangyong.

But that's not all, M&M is confronting tough rivalry from their Indian market partner Renault in the bid.

Other bidders list comprises Ruia Group, Korean aluminium producer SM Group, private equity fund Seoul Investment and a company that makes Daewoo buses.

Sales increase in both tractors and utility vehicles along with cost management strengthened Mahindra & Mahindra's net profit in the fourth quarter.

The company's net in fourth quarter increased by 36% year-on-year to Rs 570 crore as compared to Rs 418 crore in the quarter ended March 2009.

During the quarter, M&M posted a rise of 40% in its net revenues, which stood at Rs 5,806 crore as compared to Rs 4,139 crore.

The company's utility vehicle sales surged 24% at 59,526 units, whereas the tractor sales remained up by 55% at 44,344 units.

Mr Uday Phadke, President, Finance, M&M, stated that M&M has a capex plan of Rs 4,500 crore for the coming three years.