M&M slips 7% as firm expects slower tractor sales growth in FY22

While growth in tractors is slowing down after robust growth in FY21, M&M's auto segment is expected to see strong momentum in both LCVs and SUVs, brokerage MOSL said

Shares of Mahindra & Mahindra (M&M) slipped 7 per cent to Rs 790 on the BSE in intra-day trade on Monday after the management said the tractor industry is expected to grow in low single-digits during the financial year 2021-22 (FY22), with the company focused on gaining market share.

Since May 4, the stock of M&M has outperformed the market by surging 14 per cent, as compared to a 6.6 per cent rise in the S&P BSE Sensex till Friday. At 09:58 am, the stock was down 6 per cent at Rs 797, as against a 0.20 per cent gain in