Mahindra & Mahindra shares may rally up to 22%, brokerages say after Q2 results. Should you buy, sell or hold?

November 5, 2025

Nomura and Nuvama reiterated ‘Buy’ ratings on Mahindra & Mahindra after strong Q2 results, projecting up to 22% upside on robust SUV demand, farm segment growth, and rising margins driven by new launches and PLI benefits.

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