Mahindra & Mahindra bounces 3% from day's low on good tractor sales in June

Shares of Mahindra & Mahindra (M&M) moved higher by 2 per cent to Rs 521, gaining 3 per cent from day’s low of Rs 506, on the BSE on Wednesday after it reported double digit growth in domestic tractor sales in the month of June 2020.

Mahindra & Mahindra’s farm equipment sector (FES) reported 12 per cent year on year (YoY) growth in domestic tractor sales at 35,844 units in June 2020 as against 31,879 units sold in June last year. This is the second highest June sales ever, the company said.

Meanwhile, its export shipments declined 42 per cent during the