Goldman Sachs upgrades M&M Financial to 'buy'

Reuters Market Eye - Goldman Sachs upgrades India's Mahindra and Mahindra Financial Services Ltd to "buy" from "neutral", citing valuations and "overly pessimistic" market expectations on the non-banking financial firm's loan growth and profitability.

Instead, Goldman expects Mahindra and Mahindra Financial to reduce its non-performing loans and grow its loan volumes.

Shares up 2.04 percent at 12.56 p.m.

(Reporting by Dipika Lalwani)