Mahindra & Mahindra rose 1.64% to Rs 1,269.30 at 14:00 IST on BSE, with the stock recovering on bargain hunting after recent slide.
Meanwhile, the S&P BSE Sensex was up 338.04 points or 1.22% at 27,999.44.
On BSE, so far 35,000 shares were traded in the counter as against average daily volume of 75,000 shares in the past one quarter.
The stock hit a high of Rs 1,271.75 and a low of Rs 1,252.20 so far during the day. The stock had hit a record high of Rs 1,421 on 4 September 2014. The stock had hit a 52-week low of Rs 1,106 on 10 February 2015.
The stock had underperformed the market over the past one month till 10 July 2015, advancing 2.33% compared with Sensex's 3.06% rise. The scrip had, however, outperformed the market in past one quarter, sliding 2.69% as against Sensex's 4.22% fall.
The large-cap auto company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.
Shares of Mahindra & Mahindra (M&M) had fallen 5.44% in four trading sessions to settle at Rs 1,248.85 on Friday, 10 July 2015, from a recent high of Rs 1,320.70 on 6 July 2015.
M&M during market hours on Friday, 10 July 2015 said it will seek shareholders' nod to raise up to Rs 5000 crore through issuance of securities on private placement basis in domestic and/or international markets. M&M said it intends to use the funds to augment resources for ongoing capital expenditure, short and long term working capital and for general corporate purposes. The company's annual general meeting (AGM) will be held on 7 August 2015.
M&M's net profit fell 38.6% to Rs 550.56 crore on 13.2% drop in net sales to Rs 9411.52 crore in Q4 March 2015 over Q4 March 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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