Mahindra & Mahindra jumped 3.03% to Rs 744.65 at 12:06 IST on BSE, with the stock extending Wednesday's 3.91% gains triggered by the company reporting strong Q1 results.
Meanwhile, the BSE Sensex was up 51.42 points or 0.29% to 17,651.98.
On BSE, 1.52 lakh shares were traded in the counter as against average daily volume of 1.06 lakh shares in the past one quarter.
The stock hit a high of Rs 752.60 and a low of Rs 728.70 so far during the day. The stock had hit a record high of Rs 874.75 on 28 October 2011. 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 8 August 2012, falling 1.14% compared with the Sensex's 0.45% rise. The scrip had, however, outperformed the market in past one quarter, jumping 6.77% as against Sensex's 6.37% rise.
The large-cap company has equity capital of Rs 306.99 crore. Face value per share is Rs 5.
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Shares of Mahindra & Mahindra (M&M) have jumped 7.06% in two trading sessions from Rs 695.50 on 7 August 2012, after the company during trading hours on Wednesday, 8 August 2012, reported strong Q1 results. The stock had jumped 3.91% to settle at Rs 722.75 on Wednesday, 8 August 2012.
The combined net profit of M&M and its 100% subsidiary -- Mahindra Vehicle Manufacturers (MVML) -- jumped 25.9% to Rs 778.50 crore on 35.2% growth in gross revenue to Rs 10003.90 crore in Q1 June 2012 over Q1 June 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.
M&M said the growth in first quarter net profit despite relentless increase in material costs was on the back of good volume performance of the company's automotive sector and also due to tight control on expenses.
M&M said some of the major group companies viz. Mahindra Finance, Mahindra Satyam, Mahindra Lifespace Developers and Mahindra Holidays & Resorts significantly improved their performance in Q1 June 2012.
M&M said the drought-like conditions prevailing in several states this year has added to the risks of domestic companies.
M&M is India's premier utility vehicles and farm-equipment company.
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