M&M hits 52-week high, Escorts nears record high on strong tractor sales

In November, total volumes at M&M and Escorts rose 56 per cent and 33 per cent YoY, respectively.

Shares of Mahindra & Mahindra (M&M) and Escorts gained 3 per cent on the BSE on Wednesday in an otherwise subdued market as the tractor segment extended the trend of outperformance vis-a-vis rest of the automotive space in November 2020.

The stock of M&M hit a 52-week high of Rs 758, surpassing its previous high of Rs 745, touched on November 24, 2020. Escorts hit an intra-day high of Rs 1,419, and was trading close to its record high of Rs 1,446 touched on November 19, 2020.

In November 2020, total volumes at M&M and Escorts rose 56 per cent