Mahindra & Mahindra rides high on reporting 19% rise in overall auto sales in August

Mahindra & Mahindra is currently trading at Rs. 1586.35, up by 10.25 points or 0.65% from its previous closing of Rs. 1576.10 on the BSE.

The scrip opened at Rs. 1578.95 and has touched a high and low of Rs. 1604.55 and Rs. 1576.00 respectively. So far 51996 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1604.55 on 01-Sep-2023 and a 52 week low of Rs. 1124.00 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1604.55 and Rs. 1523.05 respectively. The current market cap of the company is Rs. 197913.83 crore.

The promoters holding in the company stood at 19.37%, while Institutions and Non-Institutions held 67.08% and 13.55% respectively.

Mahindra & Mahindra (M&M) has reported a 19.16% rise in its overall auto sales at 70,350 units for the month of August 2023, as compared to 59,039 units for August 2022. Of the total, the company has posted 25% increase in domestic passenger vehicles sales at 37,270 units in August 2023, as compared to the same month last year. The company had sold 29,852 units of passenger vehicles in August 2022. Among passenger vehicles, domestic sales of utility vehicles were at 37,270 units last month, as against 29,516 units in the year-ago period, a growth of 26%.

Sales of three-wheelers, including electric 3Ws, were at 7044 units, as compared to 4793 units in August 2022, a growth of 47%. The domestic sales for Small Commercial Vehicles (LCV < 3.5T) stood at 18768 vehicles. Sales of Commercial Vehicles (LCV > 3.5T + MHCV) stood at 949 units. However, the exports of the company fell 17% to 2423 units in August 2023 over 2912 units in August 2022.

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.

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