M&M declines as Scorpio fails crash test

Mahindra & Mahindra lost 0.85% to Rs 1,330 at 13:55 IST on BSE on reports that Global New Car Assessment Programme yesterday, 17 May 2016, awarded zero star safety rating to the company's Scorpio sports utility vehicle model following a crash test.

Meanwhile, the S&P BSE Sensex was down 126.90 points or 0.49% at 25,646.71.

On BSE, so far 43,000 shares were traded in the counter as against average daily volume of 89,585 shares in the past one quarter. The stock lost as much as 2.17% at the day's low of Rs 1,312.25 so far during the day. The stock rose as much as 0.04% at the day's high of Rs 1,342 so far during the day. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had outperformed the market over the past one month till 17 May 2016, gaining 0.66% compared with Sensex's 0.57% rise. The scrip had also outperformed the market in past one quarter, advancing 11.51% as against Sensex's 10.23% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra's (M&M) net profit declined 14.2% to Rs 807.99 crore on 17.1% growth in net sales to Rs 10900.39 crore in Q3 December 2015 over Q3 December 2014. The company is scheduled to announce its Q4 March 2016 results on 30 May 2016.

Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.

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