Mahindra & Mahindra rallies 10% in 2 days on healthy tractor sales in May

The timely relaxation of the lockdown for the agricultural sector ensured speedy recovery of tractor demand during May.

Shares of Mahindra & Mahindra (M&M) were up 4 per cent to Rs 477 on the BSE on Tuesday, having rallied 10 per cent in the past two trading days, after the company sold 24,017 tractors in domestic market in May 2020 despite Covid-19 induced lockdown. It had sold 23,539 units during the same month last year. The timely relaxation of the lockdown for the agricultural sector helped ensure speedy recovery of tractor demand during May.

With the past two day’s gain, the stock of M&M has soared 30 per cent in the last one month, as compared to 0.51 per