M&M gains in volatile trade after launching new range of diesel generators

Mahindra & Mahindra rose 0.2% to Rs 1,224.65 at 15:20 IST on BSE after the company said that Mahindra Powerol, a business of company's newly formed Mahindra Powertrain division, launched a new range of 125 Kilovolt amperes diesel generators.

The announcement was made during market hours today, 21 March 2016.

Meanwhile, the S&P BSE Sensex was up 311.26 points or 1.25% at 25,274.79.

On BSE, so far 13,914 shares were traded in the counter as against average daily volume of 74,992 shares in the past one quarter. The stock was volatile. The stock rose as much as 0.63% at the day's high of Rs 1,230 so far during the day. The stock lost as much as 0.45% at the day's low of Rs 1,216.60 so far during the day. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past one month till 18 March 2016, rising 0.95% compared with Sensex's 5.51% rise. The scrip had, however, outperformed the market in past one quarter, sliding 1.78% as against Sensex's 2.22% fall.

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

Mahindra & Mahindra (M&M) said that these products are currently launched only for the domestic market.

M&M's 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.

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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