Technical analyst A. K Prabhakar of Anand Rathi has maintained 'hold' rating on Mahindra & Mahindra Limited to achieve long term target.

The analyst said that the stock can be purchased with a target of Rs 1200.

Mr. Prabhakar said that the said target can be attained in a period of 12 months.

Today, the stock of the company opened at Rs 755 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 826.40 and a low of Rs 475.55 on BSE.

Current EPS & P/E ratio stood at 39.73 and 19.10 respectively.

As per reports, UK-based BT sold its 5.5% equity stake in Tech Mahindra to Mahindra & Mahindra for an aggregate sum of Rs 451 crore.

During November, M&M decided to purchase 5.5% from BT 'over time via an inter-se transfer amongst conditioning promoters at a market associated cost'.

During the last month, Mahindra & Mahindra (M&M) posted an increase of 18% growth in its auto sales, which remained at 26,666 units as compared to 22,589 units in the same period of last year.

M7M's domestic sales grew by 18% to 25,166 units during the last month as compared to 21,387 units in the same period of last year.

The company's auto section exports surged 25% during the month under review.