Mahindra & Mahindra lost 0.16% to Rs 1,365 at 14:49 IST on BSE, with the stock sliding amid volatility after the company registered strong sales volume growth in its auto and tractor business in November 2015.
The company announced the monthly sales volume data for of November 2015 for its auto and tractor business during market hours today, 1 December 2015.
Meanwhile, the S&P BSE Sensex was up 34.32 points or 0.13% at 26,179.99.
On BSE, so far 57,000 shares were traded in the counter as against average daily volume of 83,414 shares in the past one quarter.
The stock was volatile. The stock lost as much as 0.66% at the day's low of Rs 1,358.15 so far during the day. The stock rose as much as 0.99% at the day's high of Rs 1,380.80 so far during the day.The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had hit a 52-week low of Rs 1,095 on 7 September 2015.
The stock had outperformed the market over the past one month till 30 November 2015, surging 15.62% compared with Sensex's 1.92% fall. The scrip had also outperformed the market in past one quarter, jumping 10.91% 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.
Mahindra & Mahindra's (M&M) total auto sales rose 21% to 41,590 units in November 2015 over November 2014. Domestic auto sales rose 23% to 39,383 units in November 2015 over November 2014. Exports rose 1% to 2,207 units in November 2015 over November 2014.
Separately, M&M during market hours today, 1 December 2015 said that its total tractor sales rose 42% to 21,717 units in November 2015 over November 2014. Domestic tractor sales rose 47% to 20,819 units in November 2015 over November 2014. Exports declined 20% to 898 units in November 2015 over November 2014.
M&M's net profit declined 2.4% to Rs 923.56 crore on 1.8% decline in net sales to Rs 9121.79 crore in Q2 September 2015 over Q2 September 2014.
Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.
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