Today, Mahindra & Mahindra, the Auto major, reported a 14 per cent rise in total sales to 40,591 units in August. The company had sold 35,634 units in the same month last year. Mahindra share price closed with the rise of almost 2% in today’s trade.
In the domestic market, Mahindra sales increased by 15 per cent and stood at 36,944 units last month compared with 32,122 in August 2015. Exports went up by 4 per cent to 3,647 units during the month as against 3,512 in August last year.
Meanwhile, Mahindra share price closed at Rs. 1453.55
The passenger vehicles sales, including Scorpio, XUV500, Xylo, Bolero, and Verito, also went up 29 per cent and were reported to be at 18,246 units, from 14,198 units in the same month last year. Commercial vehicle sales rose 7 per cent to 13,993 units in August as compared to 13,023 in the year-ago period.
M&M Chief Executive of auto division ,Pravin Shah said that good monsoon and new product launches had helped the auto industry in performing positively. Coupled with this, the uncertainty surrounding diesel vehicles has been lifted by the honorable Supreme Court, providing the customer the choice to buy the preferred vehicle which will help improve sentiment, going forward.
Mahindra is the top 500 pick by Dynamic Levels for the quarter. Mahindra share price last closed at Rs. 1436, near its first support level. For details on the support and resistance level of Mahindra, drop by at Mahindra share price forecast page of Dynamic Levels website.
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