Citi sets INR 4,260.00 target for Mahindra stock

Published on 10/13/2026 at 14:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached INR 581.88 billion in the first quarter of fiscal 2027. Mahindra stock costs INR 2,851.20 on October 13, 2026, up 1.36 percent on NSE.

Array

Mahindra, INE101A01026, Illustration mit AI erstellt.

Citi gave Mahindra a Buy rating and set a target of INR 4,260.00 on October 8, 2026, according to The Financial Express. Against the NSE price of INR 2,851.20, the target lies 49.42 percent higher. Mahindra stock was at INR 2,851.20 on NSE on October 13, 2026 at 2:59 p.m. IST, up 1.36 percent versus the NSE close of October 12, 2026 at INR 2,813.00.

First-quarter figures set the base

Mahindra reported INR 581.88 billion in consolidated revenue and INR 54.55 billion in profit after tax for the first quarter of fiscal 2027. The company also reported a 23.00 percent annualized consolidated return on equity, according to its Mahindra investor-relations page.

The figures give the valuation discussion a clear operating anchor. Citi expects total vehicle volumes to rise 15.70 percent year over year in the September quarter, while it sees Mahindra revenue increasing 26.70 percent and earnings before interest, taxes, depreciation and amortization declining 1.80 percent because of margin pressure, The Financial Express reported on October 8, 2026.

Stock remains below its yearly high

Mahindra's NSE 52-week range is INR 2,744.30 to INR 3,839.90, placing the current price 25.75 percent below the high. The stock is down 24.19 percent year to date, while October 13 trading volume reached 2,316,000 shares.

The market capitalization stood at INR 3.5 trillion on October 13, 2026, and the price to earnings ratio was 17.28. The NIFTY 50 listing gives the stock a broad Indian large-cap market reference.

Comparison with peers

Mahindra (NSE, INR): plus 1.36 percent, price to earnings ratio 17.28, market capitalization INR 3.5 trillion
Maruti Suzuki (NSE, INR): minus 0.70 percent, price to earnings ratio 24.82, market capitalization INR 3.5 trillion
Hyundai (NSE, INR): plus 1.28 percent, price to earnings ratio 31.86, market capitalization INR 1.6 trillion

Results date is November 5

Mahindra's next financial-results meeting is scheduled for November 5, 2026, according to NSE India. That date gives investors the next fixed checkpoint for testing the vehicle-volume and margin assumptions behind the Citi view.

Price and valuation remain separate signals

Mahindra combines a 25.75 percent gap to its 52-week high with a 17.28 price to earnings ratio and a scheduled November 5 results date. The current session move was positive, but the larger year-to-date decline keeps the stock's valuation discussion tied to earnings delivery.