Technical analyst SP Tulsian has maintained 'hold' rating on Mahindra & Mahindra Limited stock.

According to analyst, the investors can buy the stock with a target of Rs 800.

The stock of the company, on May 03, closed at Rs 707.85 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 42.04 and 16.41 respectively.

The share price has seen a 52-week high of Rs 826.40 and a low of Rs 501 on BSE.

Mahindra & Mahindra Ltd., a part of the US $11.1 billion Mahindra Group, declared an increase of 23% in its auto sales figures, which remained at 32090 units during the last month as compared to 26043 units in April 2010.

M&M's domestic sales grew by 21% to 30,349 units during April 2011 from 25,037 units in April 2010.

The Passenger Vehicles section (which comprises the UVs plus the newly introduced Verito) recorded an increase of 20%, having sold 15,459 units during the last month, from 12,923 units in April 2010.

The 4-wheel pick-up and commercial passenger sector recorded an increase of 16%, whilst the 3-wheelers section has increased by an exciting 45%.

While talking about the numbers, Mr. Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra stated, "We are happy with the 23 percent growth that we have clocked in April. All our brands have been doing well and with recent launches such as Verito, Maxximo Mini Van and Gio Compact Cab, we hope to further consolidate our position in these segments."