The announcement was made on Wednesday, 1 May 2013, when the stock market was closed on account of Maharashtra Day.
Meanwhile, the BSE Sensex was up 177.80 points, or 0.91%, to 19,681.98.
On BSE, 88,000 shares were traded in the counter as against an average daily volume of 84,407 shares in the past one quarter.
The stock hit a high of Rs 948 and a low of Rs 910.10 so far during the day. The stock had hit a record high of Rs 974.80 on 10 January 2013. The stock had hit a 52-week low of Rs 621.75 on 18 May 2012.
The stock had outperformed the market over the past one month till 30 April 2013, rising 7.18% compared with the Sensex's 3.55% rise. The scrip had also outperformed the market in past one quarter, rising 3.27% as against Sensex's 2.50% fall.
The large-cap utility vehicles and tractors maker has an equity capital of Rs 306.99 crore. Face value per share is Rs 5.
Mahindra & Mahindra's (M&M) farm equipment sector (FES) reported 38% rise in total tractor sales to 23,202 units in April 2013 over April 2012. Total domestic tractor sales rose 38% to 22,196 units in April 2013 over April 2012. Tractor exports rose 34% to 1,006 units during the period.
"We are happy with the 38% growth which we have achieved during April 2013. We feel that this is on the back of improved market sentiments. In addition the expectation of a normal monsoon is clearly being seen as a positive indicator, said Rajesh Jejurikar, Chief Executive, Farm Equipment Sector, M&M.
M&M's automobile segment reported a 2% rise in total sales to 41,432 units in April 2013 over April 2012. Total domestic sales rose 2% to 39,902 units in April 2013 over April 2012. Exports rose 8% to 1,530 units during the period.
The passenger vehicles segment (which includes the utility vehicles and Verito) registered a growth of 1%, having sold 20,748 units in April 2013, as against 20554 units during April 2012.
The 4-wheeler commercial segment, which includes the passenger and load vehicles, registered a 10% growth, having sold 14,414 units, while the 3-wheeler segment clocked 4,036 units in April 2013.
Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra said, "We are extremely disappointed that the additional 3% excise duty on SUVs has not been reversed in the Finance Bill, which would have brought about some cheer and momentum for SUV makers and provided them with a level playing field. We remain cautiously optimistic of the current situation and do hope that with the much awaited and needed reduction in interest rates announcement by the RBI next week, the auto industry will look up. At Mahindra, we hope to create excitement with the launch of the Verito Vibe and other product variants."
The combined net profit of M&M and its 100% subsidiary -- Mahindra Vehicle Manufacturers (MVML) -- jumped 29.6% to Rs 915 crore on 27.5% growth in gross revenue plus other income to Rs 11522.30 crore in Q3 December 2012 over Q3 December 2011. MVML, located at Chakan near Pune in Maharashtra, has been set up as a 100% subsidiary of M&M with a view to source contemporary products for expanding the market offering of M&M. The company will announce its year ended March 2013 results on 30 May 2013.
The $15.9 billion 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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