Hold Mahindra & Mahindra

Hold Mahindra & Mahindra Technical analyst Hemen Kapadia is of the view that investors can 'hold' Mahindra & Mahindra Ltd stock for short term.

According to analyst, M&M stock will show good upmove on crossing its resistance of Rs 576.

Today, the shares of the bank opened at Rs 549.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 598.35 and a low of Rs 310 on BSE.

Current EPS & P/E ratio stood at 33.08 and 16.66 respectively.

Mahindra and Mahindra Ltd (M&M) has decided to roll out new variants of its sub-one-tonne mini-truck Maxximo.

According to two of M&M's suppliers, India's biggest maker of utility vehicles will introduce a passenger carrier and a goods carrier with at least a one-tonne payload on the Maxximo platform by the next 4-6 months.

With 8-10 seats, the new passenger carrier will be placed in the multipurpose vehicle section.

The company on May 19 announced that it would introduce its compact diesel pick-up truck in the US by 2010 end.

The US is the world's major pick-up truck market having annual sale figures of over 13 million units.

The compact truck market is about 240,000 units at the moment and likely to go up to 300,000 units by 2011.