M&M zooms on reporting 17% rise in overall auto sales in May
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Mahindra & Mahindra is currently trading at Rs. 2627.40, up by 120.95 points or 4.83% from its previous closing of Rs. 2506.45 on the BSE.
The scrip opened at Rs. 2580.00 and has touched a high and low of Rs. 2633.55 and Rs. 2556.60 respectively. So far 26672 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2,649.75 on 3-June-2024 and a 52 week low of Rs. 1,320.75 on 02-Jun-2023.
Last one week high and low of the scrip stood at Rs. 2654.00 and Rs. 2479.75 respectively. The current market cap of the company is Rs. 311684.28 crore.
The promoters holding in the company stood at 18.59%, while Institutions and Non-Institutions held 67.94% and 13.46% respectively.
Mahindra & Mahindra (M&M) has reported a 17% rise in its overall auto sales (including exports) at 71,682 units for the month of May 2024 as compared to 61,415 units in the same month last year. Of the total, the company has posted 31% increase in domestic passenger vehicles sales at 43,218 units in May 2024, as compared to the same month last year. The company had sold 32,886 units of passenger vehicles in May 2023.
Domestic sales of three-wheelers, including electric 3Ws, were at 5967 units in May 2024, as compared to 5851 units in May 2023, a growth of 2%. The domestic sales for Small Commercial Vehicles (LCV 2 T - 3.5 T) stood at 13781 vehicles. Sales of Commercial Vehicles (LCV > 3.5T + MHCV) stood at 2889 units. The exports of the company increased 2% to 2671 units in May 2024 as compared to 2616 units in May 2023.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
