M&M Financial shares surge 10% on 70% Q1 profit jump

Brokerages raise target prices as the Indian NBFC reports record earnings, extending a multi-day rally in the stock.

By Handelsavisen Newsroom · Automated 2026-07-22 07:13 UTC · 1 min read

Shares of Mahindra & Mahindra Financial Services jumped 10% in early trade, driven by a sharp beat in first-quarter earnings.

The lender reported a 70% year-on-year increase in net profit, signaling robust momentum in its core lending book and prompting immediate repricing by equity markets.

The positive sentiment has extended a rally that began earlier in the week, with shares climbing nearly 8% on Wednesday before accelerating further on the news.

The earnings print has triggered a wave of upgrades from brokerages, which have lifted their target prices on the stock.

Analysts cited the company’s ability to maintain asset quality while expanding margins as key drivers behind the revised outlook.

The positive sentiment has extended a rally that began earlier in the week, with shares climbing nearly 8% on Wednesday before accelerating further on the news.

This development places M&M Financial in a similar trajectory to peer HDB Financial Services, which recently saw shares surge 4.6% following its own record quarterly results.