M&M drops after 8% rally in six days

Mahindra & Mahindra fell 2.34% to Rs 1,253.35 at 14:48 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 152.52 points or 0.53% at 29,031.90.

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 62,784 shares in the past one quarter.

The stock hit a high of Rs 1,277.10 and a low of Rs 1,250.50 so far during the day. The stock had hit a 52-week low of Rs 964.70 on 16 April 2014. The stock had hit a record high of Rs 1,421 on 4 September 2014.

The stock had outperformed the market over the past one month till 10 April 2015, surging 4.59% compared with Sensex's 0.59% rise. The scrip had, however, underperformed the market in past one quarter, advancing 3.71% as against Sensex's 5.18% rise.

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

Shares of Mahindra & Mahindra (M&M) had rallied 8.1% in prior six trading sessions to settle at Rs 1,283.35 on Friday, 10 April 2015, from a recent low of Rs 1,187.15 on 31 March 2015.

Mahindra & Mahindra (M&M)'s net profit rose 0.9% to Rs 942.14 crore on 9% decline in net sales to Rs 9465.94 crore in Q3 December 2014 over Q3 December 2013.

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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