M&M inches higher on reporting 10% growth in September sales

Mahindra & Mahindra (M&M) is currently trading at Rs 865.05, up by 0.55 points or 0.06 % from its previous closing of Rs 864.50 on the BSE.

The scrip opened at Rs 864.50 and has touched a high and low of Rs 871.70 and Rs 859.45 respectively. So far 58590 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 874.75 on 28-Oct-2011 and a 52 week low of Rs 621.75 on 18-May-2012.

Last one week high and low of the scrip stood at Rs 871.50 and Rs 809.05 respectively. The current market cap of the company is Rs 53060.22 crore.

The promoters holding in the company stood at 25.45% while Institutions and Non-Institutions held 47.55% and 21.26% respectively.

Mahindra & Mahindra (M&M), India’s leading SUV manufacturer has reported 9.53% rise in September auto sales at 48,342 units as compared to 44,137 units in September 2011. The half-yearly consolidated auto sales numbers for the period April to September 2012 stood at 2,67,266 units, up by 20% over the corresponding period of the last fiscal. The company’s passenger vehicles have registered a growth of 22% at 23,808 units. However it is noteworthy that September 2012 and September 2011 are not comparable as the festive season had started early in 2011.

The company’s domestic sales stood at 45,231 units during September 2012, as against 41136 units during September 2011, an increase of 10%. The 4 wheeler commercial segment which includes the passenger and load categories has registered a growth of 7%.  Exports for the month of September 2012 stood at 3079 units, with an overall growth of 40% during the period April- September, 2012.