Mahindra and Mahindra shares opened at 672.00 on Friday. The stocks rose by 4.73 percent ahead of union budget. The stock closed at 640.35.
Earlier this week, Mahindra and Mahindra reported auto sales at 42,547 vehicles in June 2019, compared to 45,155 vehicles during June 2018, registering a fall of 6%. The company’s domestic sales touched 39,471 vehicles during June 2019, as against 41,689 vehicles in June 2018. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,826 vehicles in June 2019.
In the commercial vehicles segment, the company sold 16,394 vehicles in June 2019, as against 19,229 vehicles in June 2018. In the medium and heavy commercial vehicles segment, M&M sold 705 vehicles for the month. Exports for June 2019 stood at 3,076 vehicles.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing.
The BSE group ‘A’ stock of face value Rs 5 has touched a 52-week high of Rs 992 on 30 August 2018 and a 52-week low of Rs 598 on 16 May 2019.
M&M shares have lost 25% value in the last one year compared with a 12% rise in the benchmark Nifty 50 index.
The promoter holding in the company stood at 21.51%, while Institutions and Non-Institutions held 54.93% and 23.56%, respectively.
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