M&M gains after reporting decent growth in sales in August

Mahindra & Mahindra rose 1.32% to Rs 1,457 at 15:04 IST on BSE after the company reported 16% growth in its total tractor sales at 13,543 units in August 2016 over August 2015.

The company announced the monthly sales volume data during trading hours today, 1 September 2016.

Meanwhile, the BSE Sensex was up 92.07 points, or 0.32%, to 28,544.24.

On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 87,338 shares in the past one quarter. The stock hit a high of Rs 1,463.45 and a low of Rs 1,442 so far during the day. The stock hit a record high of Rs 1,508.80 on 9 August 2016. The stock hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past 30 days till 31 August 2016, falling 1.49% compared with 1.68% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 7.9% as against Sensex's 5.99% 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) domestic tractor sales rose 15% to 12,327 units in August 2016 over August 2015. Exports rose 28% to 1,216 units in August 2016 over August 2015.

Separately, M&M said its total auto sales rose 14% to 40,591 units in August 2016 over August 2015. Domestic auto sales rose 15% to 36,944 units in August 2016 over August 2015. Passenger vehicles sales grew 29% to 18,246 units in August 2016 over August 2015. Medium and heavy commercial vehicles (MHCV) sales rose 9% to 371 units in August 2016 over August 2015. Total auto exports rose 4% to 3,647 units in August 2016 over August 2015.

M&M's net profit rose 12.37% to Rs 955.21 crore on 12.3% growth in net sales to Rs 10898.08 crore in Q1 June 2016 over Q1 June 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

Powered by Capital Market - Live News