Mahindra & Mahindra (M&M) stock gained nearly 2% on Monday, reaching ₹2,712 after a sharp 6% fall in the previous session. Leading brokerage firms, including Jefferies and Bernstein, expressed confidence in the company’s performance despite concerns over Tesla’s entry into India. Analysts believe Tesla's impact will be minimal due to price differences and limited policy benefits for high-priced EVs. M&M's Q3 results showed strong growth, with a 19% rise in standalone profit to ₹2,964 crore and revenue up 20% at ₹30,538 crore, reinforcing investor confidence.