M&M rallies 19% in four days, hits fresh 52-wk high on strong tractor sales

The tractor demand continues to be strong with expansion in Rabi acreage, very high reservoir levels and higher liquidity in the hands of farmers with timely Kharif procurement

Shares of Mahindra & Mahindra hit a fresh 52-week high of Rs 893 on the BSE aftre rallying 7 per cent on Thursday. The stock has surged 19 per cent in the past four days after reporting strong tractor sales volume of 35,000 units for January 2021, up 50 per cent over the same month previous year. The stock is 10 per cent away from its all-time high level of Rs 992, touched on August 30, 2018.

At 10:37 am, M&M was trading 5 per cent higher at Rs 877 on the BSE, as compared to 0.4 per cent