Mahindra & Mahindra falls 4% on disappointing December sales

The stock dipped 4 per cent to Rs 772, falling 5 per cent from intra-day high on BSE, as tractor sales down 6 per cent at 17,404 units in December over the previous year.

Shares of Mahindra & Mahindra (M&M) dipped 4 per cent to Rs 772 apiece, falling 5 per cent from intra-day high on BSE, after reporting disappointing sales numbers for  December 2018 due to tight liquidity and low buying sentiment.

The company said it has sold 17,404 units of tractors in December, down 6 per cent as compared to 18,488 units sold in the same month last year.

Domestic tractor sales were down 2 per cent year-on-year (YoY) to 16,210 units, while exports sales almost halved to 894 units in the month of December against 1,633 units in the previous year.