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“It will vary from one company to another company. M&M has a completely different mix of products. M&M, of course, has a very large tractor portfolio and farm equipment portfolio, so that has a meaningful impact on revenues. We will have to wait and watch what exactly the auto companies report in terms of their overall numbers.”
The Nifty opened the week on a weak note. The weakness intensified in the last hour of the session to close with a net loss.
Sensex rose 32 points to 65,430 and Nifty gained 8 points to 19,550. Bajaj Finance, ICICI Bank, M&M and Bajaj Finserv were the top Sensex gainers
Mahindra & Mahindra received an intimation from the Principal Commissioner of Income Tax-2 informing that the Income Tax Department has filed an appeal under the provisions of Section 260A of the Income Tax Act, 1961, before the High Court of Bombay, Mahindra & Mahindra said in a regulatory filing.
Mahindra Tax Dispute: Mahindra & Mahindra received an intimation from the Principal Commissioner of Income Tax-2 informing that the Income Tax Department has filed an appeal under the provisions of Section 260A of the Income Tax Act, 1961, before the High Court of Bombay, Mahindra & Mahindra said in a regulatory filing.