Technical Analyst Gaurang Shah of Geojit BNP Paribas has maintained 'hold' rating on Mahindra & Mahindra Ltd stock to achieve a long term target.

According to Mr. Shah, the investors can hold the stock for gains of 20-25% in the period of 12 months.

Today, the stock of the company opened at Rs 553 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 34.52 and 16.29 respectively.

Mahindra & Mahindra forwarded a LoI in order to purchase troubled South Korean SUV maker Ssangyong Motor for around $500 million.

The company's president Pawan Goenka stated that they had only showed interest and not bid for Ssangyong.

He said that at first, they will inspect the company's economic viability and then they will decide whether to make a bid or not.

Seven biggies comprising M&M, compatriots Dunlop India owners' Ruia Group, and French carmaker Renault, submitted letters of intent for Ssangyong.

For the three month period ended March 2010, Mahindra & Mahindra has recorded a growth of 36.40% in net profit, which stood at Rs 570.26 crore.

The company's total income increased to Rs 5,304.63 crore during the quarter under review.

The company's exceptional financial outcomes for the three monthe period ended March 2010 is because of sturdy sales numbers by both auto and farm equipment sector.

For the fiscal ended March 2010, the company's consolidated net profit rose 76.35% to Rs 2,478.56 crore.

M&M's volume and market share increase was driven by strong sales for the Xylo.