Mahindra & Mahindra (M&M), witnesses a rise in its share price by 3%, on Thursday. Also, the stock turns out to be the top gainer on BSE Sensex.
At 12:02 IST, M&M quoted its share price at Rs 796.75, an upward incline by Rs 11.95, or 1.52%.
Well, the company issued a statement earlier and revealed that due to the cavalier rate of the Covid-19 spreading as well as lockdowns being imposed in several parts of the country, it is expected that demand and supply for vehicles & tractors may witness downfall, i.e., it may be impacted for a temporary period.
In addition to this, the company also specified that the estimated sales volume for the quarter ending June 2021 will see a decline by 15-20% as compared to Q4F21.