Mahindra & Mahindra (M&M) rose 1.87% to Rs 604.15 after the company said its auto division recorded higher sales on the day of Dhanteras.
M&M announced on Sunday, 27 October 2019, that its auto division delivered close to 13,500 vehicles across the country on the day of Dhanteras. This figure was substantially higher than the deliveries last year on Dhanteras.
Dhanteras, which fell on Friday (25 October 2019), is the first day that marks the festival of Diwali in India. On this day, Hindus consider it as an auspicious day to make new purchases.
M&M will declare it Q2 FY20 earnings on 8 November 2019.
On a consolidated basis, M&M's net profit fell 51% to Rs 809.30 crore on a 0.1% decline in net sales to Rs 26041.02 crore in Q1 June 2019 over Q1 June 2018.
M&M is engaged in the manufacture of passenger cars, commercial vehicles and tractors.
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