M&M rallies 10%, nears record high on strong operational performance in Q3

M&M expects the industry to log around 20 per cent YoY volume growth in the tractor segment for FY21E

Shares of Mahindra & Mahindra (M&M) rallied 10 per cent to Rs 952 on the BSE in Monday's intra-day trade after the firm reported a healthy operational performance in the October-December quarter (Q3FY21).

The stock of cars and utility vehicles company surpassed its previous high of Rs 893 touched on February 4. It's trading close to its all-time high level of Rs 992 hit on August 30, 2018. Till 09:34 am, a combined 6.2 million equity shares have changed hands on the NSE and BSE so far.

In Q3FY21, the company said its consolidated profit after tax or PAT (after EI &