Mahindra & Mahindra hits 52-week low; cracks 15% so far in January

The stock was down 1.4 per cent at Rs 687, its lowest level since December 8, 2017, on the BSE.

Shares of Mahindra & Mahindra (M&M) hit a 52-week low of Rs 687 apiece, down 1.4 per cent on the BSE in early morning trade on concerns of lower volume growth of farm division. The stock of cars & utility vehicles maker was trading at its lowest level since December 8, 2017.

Thus far in the month of January, M&M underperformed the market by falling 15 per cent after the company reported disappointing sales numbers of farm equipment sector for December 2018 due to tight liquidity and low buying sentiment.

The company said it has sold 17,404 units