Mahindra & Mahindra
gained 1.98% to Rs 685.30 at 15:12 IST on BSE after total automotive
sales rose 22% at 44,717 in January 2012 over January 2011.
The announcement was made during market hours today, 1 February 2012.
Meanwhile, the BSE Sensex was up 83.27 points, or 0.48% to 17,276.82
On BSE, 4.51 lakh shares were traded in the counter as against average daily volume of 2.77 lakh shares in the past one quarter.
The stock hit a high of Rs 699 and a low of Rs 672.20 so far during the day. The stock had hit a record high of Rs 874.75 on 28 October 2011. The stock had hit a 52-week low of Rs 585.10 on 28 February 2011.
The stock had underperformed the market over the past one month till 31 January 2012, falling 1.49% compared with Sensex's 11.25% return. The scrip had also underperformed the market over the past one quarter, sliding 22.05% as against Sensex's 2.89% fall.
India's largest utility vehicles and tractors maker by sales has an equity capital of Rs 306.99 crore. Face value per share is Rs 5.
Mahindra & Mahindra (M&M's) domestic sales stood at 41,369 units during January 2012, as against 34601 units during January 2011, an increase of 20%. Exports jumped 95% at 3,348 units while the 4-wheeler commercial segment which includes the passenger and load categories registered a growth of 35% at 13,725 units in January 2012 over January 2011
Speaking on the numbers, Arun Malhotra, Senior VP, Sales & Customer Care, Automotive Division, Mahindra & Mahindra said, "We are happy to achieve all time high sales of 44,717 units and a strong growth of 22% thanks to the good performance of all our brands. The XUV500 continues to create excitement in the market and the second round of bookings has evoked an overwhelming response".
The company's tractors sales, however, registered a decline. Domestic tractor sales in January 2012 stood at 17,950 units, as against 19430 units during January 2011. Total tractor sales (domestic + exports) in January 2012 stood at 19,354 units, as against 20,499 units for the same period last year. Exports for the month stood at 1404 units, having registered a growth of 31%, M&M said in a statement.
M&M will declare its Q3 results on 7 February 2012. The company's net profit fell 2.8% to Rs 737.38 crore on 37.6% spurt in net sales to Rs 7306.81 crore in Q2 September 2011 over Q2 September 2010.
M&M is India's premier utility vehicle and farm equipment company.
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