Mahindra Tractors sells 15,918 units in India during November 2016

India Infoline News Service | Mumbai | December 01, 2016 16:44 IST

Domestic sales in November 2016 were at 15,918 units, as against 20,819 units during November 2015. Total tractor sales (domestic+ exports) during November 2016 were at 17,262 units, as against 21,717 units for the same period last year. Exports for the month stood at 1,344 units.

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the US$17.8bn Mahindra Group, announced  its tractor sales numbers for November 2016.
 
Domestic sales in November 2016 were at 15,918 units, as against 20,819 units during November 2015. Total tractor sales (domestic+ exports) during November 2016 were at 17,262 units, as against 21,717 units for the same period last year. Exports for the month stood at 1,344 units.
 
Commenting on the month's performance, Rajesh Jejurikar, President and Chief Executive - Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd. said, "We have sold 15,918 tractors in the domestic market during November 2016. The tractor industry has witnessed this year's first de-growth due to the shift in festive season and added effect of demonetisation. We see the demonetization impact to be short term and expect continued growth against the backdrop of improved agriculture output which will boost tractor demand in the future. In the exports market, we sold 1,344 tractors with a growth of 50% over November 2015".
Farm Equipment Sector
November Cumulative  November
F16 F17 %Change F16 F17 %Change
Domestic 20819 15918 -24% 149325 189207 27%
Exports 898 1344 50% 8077 9485 17%
Total 21717 17262 -21% 157402 198692 26%
*Exports include CKD

Stock commentary:
 
Mahindra & Mahindra Ltd is currently trading at Rs 1171.8, down by Rs 14.15 or 1.19% from its previous closing of Rs 1185.95 on the BSE.
 
The scrip opened at Rs 1186 and has touched a high and low of Rs 1193.6 and Rs 1168.1 respectively. So far 499734(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 73658.45 crore.
 
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1508.8 on 09-Aug-2016 and a 52 week low of Rs 1092 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 1199.05 and Rs 1154 respectively.
 
The promoters holding in the company stood at 25.36 % while Institutions and Non-Institutions held 54.57 % and 14.7 % respectively.
 
The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

Advertisements

  • Get your free IIFL Demat & Trading A/c now...Click here
  • Get IIFL express personal loan disbursal in just 8* hours...Know More
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.