M&M edges lower on weak tractor, auto sales in December

Mahindra & Mahindra fell 0.05% to Rs 1,235.55 at 9:29 IST on BSE after the company said its total tractor sales declined 27% to 12474 units in December 2014 over December 2013.

The company announced sales figures at the fag end of trading hours yesterday, 1 January 2015.

Meanwhile, the S&P BSE Sensex was up 172.25 points or 0.63% at 27,679.79.

On BSE, so far 3,200 shares were traded in the counter as against average daily volume of 64,128 shares in the past one quarter.

The stock of auto firm hit a high of Rs 1,240 and a low of Rs 1,230.95 so far during the day. The stock hit a record high of Rs 1,421 on 4 September 2014. The stock hit a 52-week low of Rs 847 on 4 February 2014.

Domestic tractor sales fell 31% to 11,286 units in December 2014 over December 2013. Exports rose 52% to 1,180 units in December 2014 over December 2013.

M&M's total auto sales fell 8.28% to 36,328 units in December 2014 over December 2013. Domestic auto sales fell 7% to 34,460 units in December 2014 over December 2013. Exports declined 32% to 1,868 units in December 2014 over December 2013.

M&M's net profit fell 4.3% to Rs 946.63 crore on 8% rise in total income to Rs 10029.19 crore in Q2 September 2014 over Q2 September 2013.

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