Technical Analyst Hitesh Chotalia has maintained 'buy' rating on Mahindra & Mahindra Ltd stock to achieve a short term target of Rs 555.

According to Chotalia, the investors can purchase the stock with stop loss of Rs 520.

The stock of the company, on May 27, closed at Rs 528.70 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 16.36 respectively.

Auto major Mahindra & Mahindra has purchase 55.2 per cent equity stake in electric car company Reva.

Reva's promoters, the Maini family, will possess 31% in Mahindra Reva Electric Vehicle Company whereas 11% stake will be possessed by Bell, the co-founder.

The remaining stake will be owned by employees with stock options.

Mr. Pawan Goenka, president (automotive & farm equipment sectors), Mahindra & Mahindra, who will take over as chairman, said, "We expect that there will be 1.5 million electric cars sold globally. I see no reason why Reva cars will not be 50,000 of that 1.5 million in the next 7 to 10 years; this deal is a part of the larger strategy within the Mahindra group of focusing on sustained mobility."

Presently, REVA sells electric car in 24 nations and has thus far sold 3,500 vehicles all over the world.

During the last year, the company sold 400 units, of which 50% were exports. A novel manufacturing facility of Reva in Bangalore is being constructed and would have the 30,000 units to start with.