The announcement was made during trading hours today, 1 January 2013.
Meanwhile, the BSE Sensex was up 157.30 points, or 0.81%, to 19,584.01.
On BSE, 36,000 shares were traded in the counter as against an average daily volume of 1.18 lakh shares in the past one quarter.
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The stock hit a high of Rs 943.50 and a low of Rs 935 so far during the day. The stock hit a record high of Rs 973.35 on 19 December 2012. The stock had hit a 52-week low of Rs 621.75 on 18 May 2012.
The stock had underperformed the market over the past one month till 31 December 2012, falling 1.57% compared with the Sensex's 0.45% rise. The scrip had, however, outperformed the market in past one quarter, rising 7.58% as against Sensex's 3.54% rise.
The large-cap company has equity capital of Rs 306.99 crore. Face value per share is Rs 5.
Mahindra & Mahindra's (M&M) domestic sales stood at 42,307 units during December 2012, as against 39,891 units during December 2011, an increase of 6%. The passenger vehicles segment (which includes the utility vehicles and Verito) registered a growth of 18%, having sold 22,761 units in December 2012, as against 19,341 units during December 2011.
The 4 wheeler commercial segment, which includes the passenger and load categories, registered a sale of 13,706 units in December 2012 compared with 13,757 units in December 2011. The 3 wheeler segment sold 5,209 units in December 2012, down 9% compared with 5,744 units in December 2011.
Exports for the month of December 2012 stood at 2,990 units, a growth of 4% over December 2011.
Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, M&M mentioned, "High interest rates, rising fuel prices and an overall slowdown in economic growth has kept consumer sentiment low during 2012. This is also evident in the auto industry sales performance for December, which traditionally has been a lean month. We do hope that corrective measures are announced and implemented soon bringing in the much needed buoyancy and growth for the industry. At Mahindra, we are happy to maintain our growth momentum even during these challenging times."
The combined net profit of M&M and its 100% subsidiary -- Mahindra Vehicle Manufacturers (MVML) -- jumped 28.4% to Rs 978.10 crore on 31% growth in gross revenue plus other income to Rs 10786.70 crore in Q2 September 2012 over Q2 September 2011. MVML, located at Chakan near Pune in Maharashtra, has been set up as a 100% subsidiary of M&M with a view to source contemporary products for expanding the market offering of M&M.
The Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
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