M&M Rating
CLSA ON M&M : 20.05.2021
* MAINTAIN BUY , TARGET: 1,060
* CLSA maintains Buy call on M&M, but cuts target to Rs 1,060/sh
* Cut FY22/23 Core EPS By 13%/9%
* See Weak Tractor Volumes In FY22 & Delay In New SUV Launches
* Underlying Macro Fundamentals Strong For A Rebound In H2FY22 & FY23
