The company made the announcement after trading hours on Wednesday, 10 April 2013.
Meanwhile, the S&P BSE Sensex was up 86.50 points or 0.47% at 18,500.95.
On BSE, 13,945 shares were traded in the counter as against average daily volume of 77,877 shares in the past one quarter.
The stock hit a high of Rs 839.90 and a low of Rs 821.75 so far during the day. The stock had hit record high of Rs 974.80 on 10 January 2013. 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 10 April 2013, sliding 7.21% compared with the Sensex's 6.45% fall. The scrip had also underperformed the market in past one quarter, declining 12.8% as against Sensex's 6.35% fall.
The large-cap company has equity capital of Rs 306.99 crore. Face value per share is Rs 5.
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Mahindra & Mahindra (M&M) after market hours on Wednesday, 10 April 2013 said that there has been a stoppage of work at the company's Igatpuri plant due to tool down strike by the Union. This is post the suspension of two workmen on disciplinary grounds one of them being a union office bearer. The company is in constant dialogue with the union for an early solution of the issue. The company has currently sufficient stock of engines for production of its vehicles, M&M said in a statement.
M&M's total tractor sales declined 0.43% to 17,330 units in March 2013 over March 2012. M&M domestic tractor sales declined 2.31% to 15,551 units in March 2013 over March 2012. Exports jumped 20% at 1,779 units in March 2013 over March 2012. M&M's total tractor sales (domestic + exports) during FY 2013 stood at 2,23,885 units, as against total tractor sales of 2,35,462 units in FY 2012. M&M said that the company maintained its leadership position in the Indian tractor industry during the year ended 31 March 2013 (FY 2013).
M&M's total automobile sales rose 11% to 51,904 units in March 2013 over March 2012. The company's domestic sales rose 11% to 49,225 units in March 2013 over March 2012. Exports for the month of March 2013 stood at 2,679 units. Sales of passenger vehicles (which includes UVs and Verito) rose 13% to 25,847 units in March 2013 over March 2012. Sales of 4 wheeler commercial segment, which includes the passenger and load vehicles, jumped 17% to 17,212 units in March 2013 over March 2012. Sales of 3-wheelers declined 5% to 4,831 units in March 2013 over March 2012. M&M's total auto sales rose 17% to 5,63,373 units in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).
The combined net profit of M&M and its 100% subsidiary -- Mahindra Vehicle Manufacturers (MVML) -- jumped 29.6% to Rs 915 crore on 27.5% growth in gross revenue plus other income to Rs 11522.30 crore in Q3 December 2012 over Q3 December 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 $15.9 billion Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
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