Mahindra & Mahindra (M&M) dropped 1.7% to Rs 1,298.95 at 14:05 IST on BSE after net profit rose 27.08% to Rs 1163.27 crore on 16.98% rise in total income to Rs 12071.13 crore in Q2 September 2016 over Q2 September 2015.
The result was announced during market hours today, 11 November 2016.Meanwhile, the S&P BSE Sensex was down 472.18 points or 1.72% at 27,055.09.
More than usual volumes were witnessed on the counter. On BSE, so far 90,592 shares were traded in the counter as against average daily volume of 67,127 shares in the past one quarter. The stock hit a high of Rs 1,318 and a low of Rs 1,285.20 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.12% compared with 2.01% fall in the Sensex. The scrip also underperformed the market in past one quarter, shedding 8.74% as against Sensex's 0.93% fall.
The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.
M&M enjoys a leadership position in tractors and utility vehicles in India.
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