Mahindra & Mahindra hits over 5-month high; stock zooms 61% in 3 months

M&M is seeing good on-ground momentum in its key business of tractors as well as for products like Bolero and Scorpio. The company is seeing huge upside in rural economy due to the many enablers

Shares of Mahindra & Mahindra (M&M) hit an over five-month high of Rs 588, up 3 per cent on the BSE on Friday; extending its previous days’ 4 per cent rally on expectation of good June quarter earnings. In the past three months, the stock has outperformed the market by surging 61 per cent, as compared to 16 per cent rise in the S&P BSE Sensex.

For January-March quarter (Q4FY20) quarter, M&M had reported a robust operational performance. The company reported a standalone net loss of Rs 2,500 crore, due to exceptional loss of Rs 2,800 crore on account of impairment