M&M nudges higher after impressive auto & tractor sales

Mahindra & Mahindra rose 0.8% to Rs 734.60 at 14:33 IST on BSE after the company reported a strong growth in its auto and tractor sales in February 2018.

The sales numbers were announced during market hours today, 1 March 2018.

Meanwhile, the S&P BSE Sensex was down 14.05 points or 0.04% at 34,169.99.

On the BSE, 75,000 shares were traded on the counter so far as against average daily volumes of 2.76 lakh shares in the past two weeks. The stock had hit a high of Rs 737 and a low of Rs 727.30 so far during the day. The stock had hit a 52-week high of Rs 802.80 on 1 February 2018 and a 52-week low of Rs 612.50 on 28 September 2017.

 

Mahindra & Mahindra's (M&M) total auto sales rose 19% to 51,127 units in February 2018 over February2017. Domestic sales increased 20% to 48,473 units. Exports rose 15% to 2,654 units.

The company's total tractor sales surged 36% to 20,483 units in February 2018 over February2017. Domestic sales jumped 39% to 19,280 units. Exports rose 3% at 1,203 units.

M&M's net profit rose 12.5% to Rs 1215.91 crore on 4.6% growth in net sales to Rs 11577.78 crore in Q3 December 2017 over Q3 December 2016.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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