Technical analyst Hemang Jani of Sharekhan has maintained 'buy' rating on Mahindra & Mahindra Ltd stock to achieve a long term target.

According to analyst, the stock can be purchased to attain a target of Rs 730.

Today, the stock of the company opened at Rs 649.95 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 15.29 respectively.

Auto maker Mahindra & Mahindra stated that it has finished the acquirement of a majority equity stake in South Korea's SsangYong Motor Company (SMC).

M&M, which came forth as the favored bidder for SsangYong Motor during August last year, will now possess a 70% equity stake in SMC, for which it has shelled out around Rs 2,105 crore.

With the novel organization taking control, SMC will make an investment of approximately Rs 960 crore during this calendar year on product growth as well as brand structuring.

The company will raise investment in product growth by 70% in this year as against last year at more than Rs 800 crore.

M&M's IT division Mahindra Satyam has decided to double up its Middle East staff by 2013 as part of a 87.8 million dirhams worldwide branding push.