M&M jumps after good tractor sales in June

Mahindra & Mahindra rose 3.47% to Rs 1,187.75 at 13:13 IST on BSE after the company said its total tractor sales rose 8% to 29,884 units in June 2014 over June 2013.

The company made the announcement during trading hours today, 1 July 2014.

Meanwhile, the BSE Sensex was up 112.41 points, or 0.44%, to 25,526.19.

On BSE, so far 83,000 shares were traded in the counter, compared with an average volume of 87,496 shares in the past one quarter.

The stock hit a high of Rs 1,196.80 and a low of Rs 1,152 so far during the day. The stock hit a record high of Rs 1,268.75 on 2 June 2014. The stock hit a 52-week low of Rs 741.50 on 28 August 2013.

The stock had underperformed the market over the past one month till 30 June 2014, falling 6.71% compared with 4.94% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.68% as against Sensex's 13.76% rise.

The large-cap company has an equity capital of Rs 307.94 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) said its total domestic tractor sales rose 8% to 28,893 units in June 2014 over June 2013. Total tractor exports fell 3% to 991 units in June 2014 over June 2013.

In a separate announcement, M&M said its automobiles segment reported 1% rise in total sales to 38,471 units in June 2014 over June 2013. Total domestic automobiles sales rose 1% to 36,457 units in June 2014 over June 2013. Total automobiles exports rose 7% to 2,014 units in June 2014 over June 2013.

M&M's net profit rose 0.9% to Rs 896.88 crore on 4.7% growth in net sales to Rs 10837.89 crore in Q4 March 2014 over Q4 March 2013.

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

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