M&M zooms ahead on buying support

Dalal Street Spikes

 More than 3.65 lakh shares of M&M were traded on the BSE. The counter moved up on good buying support at lower levels.

 The M&M stock has been on the rise over the last few months. One analyst attributed the rise to the re-rating of the stock, and hopes of good future prospects.

 For the quarter ended June 30, 2003, the company posted a net profit of Rs 42.49 crore (Rs 7.79 crore) on total income of Rs 1,013.77 crore (Rs 831.48 crore).