M&M shares climb 3% after strong Q1 results. Morgan Stanley sees up to 29% upside scope

Mahindra & Mahindra shares climbed up to 3% after the automaker reported a 7% year-on-year rise in standalone net profit to Rs 3,685 crore for the June quarter. Revenue from operations surged 23% to Rs 41,920 crore, driven by robust demand. The strong quarterly performance lifted investor sentiment, pushing the stock to an intraday high of Rs 3,365.