Homegrown auto firm Mahindra and Mahindra reported that it has sold 15,460 units in the same month last year. On 1st August 2016, Monday it reported a 13.53 per cent increase in total tractor sales at 17,553 units for the month of July.
Mahindra share price made a lifetime high of Rs 1,493.75 and is currently trading at Rs 1,470.25, down by 0.24 per cent. The intraday low for the day is Rs 1,456.05.
Domestic tractor sales rose around 15.26 per cent to reach 16,452 units in the month of July as against 14,273 units in the corresponding month of the previous year, the company declared in a BSE filing. Exports during the month went down by 7.25 per cent fall down to 1,101 units compared with 1,187 units in the same month a year ago.
Commenting on the outlook of the sales, Mahindra & Mahindra President and Chief Executive Farm Equipment as well as Two-wheeler Division Rajesh Jejurikar said that with normal rainfall spread across India in the month of July, Kharif sowing has been more than last year. The Company hopes for an improved agricultural output and tractor demand in the future.
About the Company
Mahindra and Mahindra (M&M) is an Indian multinational automobile manufacturing corporation which is headquartered in Mumbai, Maharashtra, India. It is one of the biggest vehicle manufacturers by production in the Country and the largest manufacturer of tractors worldwide. It is a part of Mahindra Group, an Indian conglomerate.
The Company was ranked as the 10th most trusted brand in India, by The Brand Trust Report, India Study 2014. It was ranked 21st in the list of top companies of India in Fortune India 500 in 2011.
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