Technical analyst Rajesh Satpute is bullish on Mahindra & Mahindra Limited and has maintained 'hold' rating on the stock with a target of Rs 694.

Mr. Satpute said that the stock can be purchased with a stop loss of Rs 652.

The analyst also said that the said target can be achieved in 1-2 trading sessions.

The stock of the company, on March 24, ended at Rs 664.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 826.40 and a low of Rs 498.50 on BSE.

Current EPS & P/E ratio stood at 42.04 and 15.96 respectively.

As per fresh reports, Mahindra and Mahindra Ltd's farm equipment arm is all set to establish a tractor facility in Zaheerabad in the state of Andhra Pradesh.

The company said that the new plant will be set up with a total investment of Rs 300 crore.

The facility will have an installed capacity of 1,00,000 tractors, which is scalable according to the demand.

The new facility will start production by the coming year with hydraulic assembly, tractor assembly, sheet metal painting and gearbox assembly.

Mr. Pawan Goenka, President, Automotive and Farm Equipment sectors at Mah and Mah, stated, "With its advanced technology proceses, large scale manufacturing set up and eco-friendly focus, the plant is all set to create new benchmarks in manufacturing excellence in the tractor industry."