M&M Financial Services shares crash 10% after Q2 results. What are Nomura and other analysts saying?
Nomura and Motilal Oswal rate stocks including Mahindra Finance and Mahindra & Mahindra.
· ET Stocks, Economic Times Markets
Mahindra & Mahindra Financial Services shares fell sharply on despite a 55% year-on-year rise in Q2FY27 net profit to Rs 882 crore. Nomura lowered its target price to Rs 400 while retaining a Buy rating, citing asset quality concerns and rising funding costs. Motilal Oswal maintained its Buy rating.
Key facts
- Period
- Q2FY27
The analysis
Where the names start from: Mahindra & Mahindra is 25% below its 52-week high, -13.5% over three months; Mahindra Finance (M&M Financial) is 36% below its 52-week high, -33.3% over three months. A rating is set against the price on the day the note is written, so how far a stock has already run is the part of the case the headline upside leaves out.
Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- Brokerage calls from Nomura and Motilal Oswal, with ratings on the stocks named. The stocks: Mahindra Finance (M&M Financial) and Mahindra & Mahindra.
- On the day, 0 of 2 are higher: Mahindra Finance (M&M Financial) leads at -1.2% and Mahindra & Mahindra trails at -1.7%.
- Over three months: Mahindra Finance (M&M Financial) -33.3% against Financial Services -14.9% (18.4 points behind); Mahindra & Mahindra -13.5% against Auto -7.7% (5.8 points behind).
- At least 25% below the 52-week high: Mahindra Finance (M&M Financial) (36%) and Mahindra & Mahindra (25%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Mahindra Finance (M&M Financial)M&MFIN · Financial Services | ₹261.70 | -1.2% | -19.4% | -33.3% | -36.5% | 1.5× | — |
| Mahindra & MahindraM&M · Auto | ₹2,840.30 | -1.7% | -3.7% | -13.5% | -25.3% | 0.8× | — |
Financial Services
1M -8.8% · 3M -14.9%
Mahindra Finance (M&M Financial)
Auto
1M -5.8% · 3M -7.7%
Mahindra & Mahindra
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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