Quote on M&M has reported a good sales numbers for June`21 by Mr. Milan Desai, Angel Broking Ltd
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Below are Quote on M&M has reported a good sales numbers for June’21 by Mr. Milan Desai, Lead Equity Analyst, Angel Broking
M&M has reported a good sales numbers for June’21. The total units including tractors are up 95% MoM to 81,186 units on the back of strong rebound across categories. Utility vehicles were up 109% MoM to 16,636 units, LCVs/pick-ups were 75% MoM to 12,347units while total tractors grew by 99% MoM to 48,222 units. Domestic tractor sales were up 105% MoM to 46,875 units. In-line with commentary were expect the auto demand recovery to play out over the next few months. As for tractors, we expect the demand to remain strong as the rural incomes have been relatively unaffected from the impact of the 2nd wave.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
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