Mahindra & Mahindra Ltd. (M&M) saw a 2% share surge in morning trade after April sales beat estimates. As of 9:50 AM, the shares were trading 2.05% higher at Rs 2,988.90.
The company reported a 19% year-on-year increase in overall auto sales, reaching 84,170 units. A standout performer was the passenger vehicle segment, with utility vehicle sales rising by 28%, totaling 52,330 units in the domestic market, compared to 41,008 units in April 2024.
In the commercial vehicle segment, M&M posted domestic sales of 22,989 units, showing strong demand across various vehicle categories.
The farm equipment sector (FES) also delivered positive results. M&M’s total tractor sales, including both domestic and export markets, grew by 8%, reaching 40,054 units. Domestic tractor sales increased by 8% to 38,516 units compared to 35,805 units in April 2024. Exports saw a significant boost, rising 25% to 1,538 units from 1,234 units last year.
Mahindra & Mahindra shares opened at ₹2,950.00, reaching a high of ₹2,991.00 and a low of ₹2,941.80 during the trading session. The stock has experienced a 52-week high of ₹3,270.95 and a low of ₹2,160.00.
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