Read more about M&M slips 7% as firm expects slower tractor sales growth in FY22 on Business Standard. While growth in tractors is slowing down after robust growth in FY21, M&M s auto segment is expected to see strong momentum in both LCVs and SUVs, brokerage MOSL said
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Shares of Mahindra & Mahindra (M&M) rallied 10 per cent to Rs 952 on the BSE in Monday s intra-day trade after the firm reported a healthy operational performance in the October-December quarter (Q3FY21). The stock of cars and utility vehicles company surpassed its previous high of Rs 893 touched on February 4. It s trading close to its all-time high level of Rs 992 hit on August 30, 2018. Till 09:34 am, a combined 6.2 million equity shares have changed hands on the NSE and BSE so far. In Q3FY21, the company said its consolidated profit after tax or PAT (after EI & NCI) was at Rs 704 crore, an increase of 252 per cent year on year (YoY). The key drivers were capital allocation actions, a 220 bps increase in standalone operating margins on the back of a 20 per cent growth in tractor volumes and a 12 per cent revenue increase in the auto business.
Mahindra & Mahindra on Wednesday regained the market-capitalisation (market-cap) of Rs 1-trillion after the firm s stock hit an over two-year high of Rs 817, surging 5 per cent on the BSE. At 11:39 am, the company had a market-capitalisation of Rs 1.01-trillion, BSE data shows. The stock of car and utility vehicles company was trading at its highest level since October, 2018. It hit a record high level of Rs 992 on August 30, 2018. Thus far in the month of January 2021, M&M stock has soared 13 per cent after the company increased price in the tractor segment across models; and personal & commercial range of vehicles due to the increase in commodity prices. The management said the price increase was necessitated due to the unprecedented increase in commodity prices and various other input costs over the past many months.
Shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 768.75, up 3 per cent, on the BSE in intra-day trade on Friday after the company announced price increase for its personal & commercial range of vehicles from today, January 8, 2021, due to rise in input costs. The stock surpassed its previous high of Rs 764.10, touched on December 8, 2020. The price will increase by around 1.9 per cent, resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant, M&M said in a press release. The company further said that in the case of new Thar, the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021. All fresh bookings for new Thar, effective January 8, 2021, will have prices as applicable on the date of delivery, it said.