M&M gains despite reporting 31% decline in total tractor sales in March

Mahindra & Mahindra is currently trading at Rs. 670.70, up by 3.55 points or 0.53% from its previous closing of Rs. 667.15 on the BSE.

The scrip opened at Rs. 670.00 and has touched a high and low of Rs. 676.75 and Rs. 667.10 respectively. So far 44303 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 992.00 on 30-Aug-2018 and a 52 week low of Rs. 615.75 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 688.95 and Rs. 653.60 respectively. The current market cap of the company is Rs. 83250.39 crore.

The promoters holding in the company stood at 21.57%, while Institutions and Non-Institutions held 55.02% and 23.41% respectively.

Mahindra & Mahindra (M&M) has reported a 31% decline in total tractor sales in March at 19,688 units. The company had sold 28,477 units in March last year.
Domestic tractor sales in March 2019 were at 18,446 units as against 27,155 units in the year-ago month, down 32%, while exports for the month stood at 1,242 units as compared to 1,322 units in March 2018, a decline of 6%.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

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