Mahindra & Mahindra rose 0.48% to Rs 948 at 13:39 IST on BSE after the company's total tractor sales rose 15% to 17,037 units in December 2013 over December 2012.
The company made the announcement during trading hours today, 1 January 2014.
Meanwhile, the BSE Sensex was up 1.63 points, or 0.01%, to 21,172.31.
On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 88,649 shares in the past one quarter.
The stock hit a high of Rs 952.20 and a low of Rs 943.15 so far during the day. The stock hit a 52-week high of Rs 1,026.45 on 20 May 2013. The stock hit a 52-week low of Rs 741.50 on 28 August 2013.
The stock had underperformed the market over the past one month till 31 December 2013, sliding 0.22% compared with the Sensex's 1.82% rise. The scrip had, however, outperformed the market in past one quarter, rising 13.98% as against Sensex's 9.24% rise.
The large-cap company has an equity capital of Rs 307.94 crore. Face value per share is Rs 5.
Mahindra & Mahindra's (M&M) total tractor sales in the domestic market jumped 19% to 16,257 units in December 2013 over December 2012.
Total tractor exports tumbled 26% to 780 units in December 2013 over December 2012.
Speaking on the sector's monthly performance, Rajesh Jejurikar, Chief Executive, Tractor and Farm Mechanization, M&M said, "I am happy to share that at the end of the first 9 months of the current fiscal year, we have achieved a domestic growth of 24%. With expectations of a bumper Rabi crop, we believe we will see a double digit growth in the next 3 months. A continued shift towards greater mechanization on farms will provide an impetus to sales."
M&M also unveiled its auto sales numbers for December 2013. Its total auto sales fell 13% to 39,611 units in December 2013 over December 2012. Total domestic sales fell 13% to 36,881 units, while exports fell 9% to 2,730 units.
Speaking on the monthly performance, Pravin Shah, Chief Executive, Automotive Division, M&M said, "During the first nine months of the current fiscal, the auto Industry has seen a negative growth due to sustained deceleration in economic activity and consequent weakness in consumer and business sentiments. While the immediate turnaround in the auto Industry is not expected without certain policy corrections and support, the worst seems to be over. At Mahindra we continue to focus on customer centricity and do hope that the new year will bring in the much needed cheer for the Auto Sector."
M&M's net profit rose 9.7% to Rs 989.50 crore on 8.7% decline in net sales to Rs 8814.33 crore in Q2 September 2013 over Q2 September 2012.
The Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
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