Mahindra and Mahindra (M&M) is trading higher by 2% at Rs 986, bouncing back nearly 4% from intra-day’s low, after recording 19% year-on-year growth in domestic tractor sales at 26,723 units in June 2013. The company had sold 22,493 units during the same month year ago.
The company’s total tractor sales, both domestic and exports, have also grown by 17% at 27,748 units in June over the previous year, M&M said in a statement.
The domestic growth of 19% achieved during June 2013 is indicative of the positive momentum this year. The improved kharif crop output prospect is expected to spur the rural economy further, it added.
The company’s cumulative sales rise of 25% in April-June 2013 at 74,577 units against 59,581 units during the same period previous fiscal.
The stock opened at Rs 969 and hit a low of Rs 951 on BSE. A combined 1.02 million shares have changed hands on the counter till 1445 hours on BSE and NSE.
The company’s total tractor sales, both domestic and exports, have also grown by 17% at 27,748 units in June over the previous year, M&M said in a statement.
The domestic growth of 19% achieved during June 2013 is indicative of the positive momentum this year. The improved kharif crop output prospect is expected to spur the rural economy further, it added.
The company’s cumulative sales rise of 25% in April-June 2013 at 74,577 units against 59,581 units during the same period previous fiscal.
The stock opened at Rs 969 and hit a low of Rs 951 on BSE. A combined 1.02 million shares have changed hands on the counter till 1445 hours on BSE and NSE.
