Mahindra & Mahindra rose 1.99% to Rs 1,313.25 at 13:43 IST on BSE after net profit declined 4.33% to Rs 946.63 crore on 7.95% growth in total income to Rs 10029.19 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced during market hours today, 31 October 2014.
Meanwhile, the S&P BSE Sensex was up 347.84 points or 1.27% at 27,694.17.
On BSE, so far 1.13 lakh shares were traded in the counter as against average daily volume of 42,000 shares in the past two weeks.
The stock was volatile. The stock rose as much as 2.74% at the day's high of Rs 1,322.90 so far during the day. The stock lost as much as 0.2% at the day's low of Rs 1,285 so far during the day.
As sanctioned by the High Court of Bombay which became effective on 30 March 2014, the full year results of the Trucks Business was transferred from Mahindra Trucks and Buses and was included in the results for the quarter ended 31 March 2014. The results of the current quarter and half year are therefore not strictly comparable to the quarter and half year ended 30 September 2013, Mahindra & Mahindra (M&M) said.
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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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