Riding on a good monsoon outlook, tractor- maker Mahindra & Mahindra (M&M) hit its 52-week high on expectations of this sector doing well.
It was at Rs 142.50 before close at Rs 141.65 up 3.36 per cent. 2.3 lakh M&M shares were traded on BSE today.
In the last two and a half months, the scrip has gone up by more than 45 per cent.
Also Read
The scrip price was boosted by reports that the company was making inroads in the international markets with the newly launched Scorpio.
The market looks upbeat about the future of M&M with the company expected to do well in the current fiscal, especially with the focus being on exports in the utility vehicles segment.
However, the tractor segment continues to face problems due to slow industry sales.
Though a good rainfall this year could provide some respite.