M&M pares gains, ends flat

The stock gave up all its gains and finally managed to settle flat at Rs 857, up 0.5% from the previous close. The counter clocked volumes of 335,152  shares as compared to the two-week daily average traded volumes of 291,291 shares on the BSE.
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(Updated at 1114hrs)

Mahindra & Mahindra has rallied on a 152% surge in Q1 net profit.

The stock today opened at Rs 865 and surged 4.5% to a new 52-week high of Rs 892. However, it is now off the day's high at Rs 875 - up 2.5%. Over 110,000 shares have been traded on the BSE so far.

 

The company reported a 152% jump in net profit at Rs 400.85 crore in Q1FY10 from Rs 159.3 crore in Q1FY09. Net sales is at Rs 4,675 crore for the quarter ended June 30,2009 - up 26% fom Rs 3,704.6 crore in the corresponding period last fiscal.