Mahindra & Mahindra rallies 4%, hits 52-week high post Q4 results

Given the recent fiscal and monetary measures by Government of India and RBI, the company's management foresees the cost pressures in the economy to ease out.

Shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 988, as they rallied 4 per cent on the BSE in Monday’s trade after the company reported a 17 per cent year-on-year (YoY) rise in standalone profit (before exceptional items) at Rs 1,167 crore for the March quarter (Q4FY22) compared with Rs 998 crore in the same quarter last year. After accounting for exceptional items, profit rose 427 per cent to Rs 1,292 crore from Rs 245 crore in the same quarter last year.

The stock of passenger cars & utility vehicles maker has surpassed its previous