M&M Shares Price: Mahindra & Mahindra shares at record high, sales increased by 13 percent in April
[Mahindra & Mahindra Share Price: Shares of Mahindra & Mahindra rose more than 2 per cent to Rs 2,204, its highest ever level, during Thursday’s trade. After heavy selling in April, the company’s shares have risen sharply. Mahindra & Mahindra has said that its total sales in the month of April have increased by 13 percent to 70,471 units as compared to last year. Around 3 pm, shares of Mahindra & Mahindra closed at Rs 2183.80 on NSE with a gain of 1.27 per cent. The company has made a profit of about 29 percent since the beginning of this year.
Mahindra & Mahindra said it sold 41,008 utility vehicles in its domestic market during the month of April, an increase of 18 percent from the same month last year. In the agricultural equipment business, the company sold 35,805 units in the month of April, whereas in the same month last year the company had sold 35,398 units.
Total sales of tractors in the month of April stood at 37039 units, which was 36405 units in the same period last year. This includes figures for both domestic sales and exports. During the month of April, the company has registered 1234 units, while compared to last year, 1007 units have been registered in this month.
Earlier, on April 30, Mahindra had launched a new compact SUV named ‘XUV 3XO’. The company has launched this compact SUV ‘XUV 3XO’ with an aggressive starting price of Rs 7.49 lakh, which will compete with Maruti Suzuki Brezza, Tata Nexon and Hyundai Venue in the market. The company claims that the mileage of the SUV is more than 20 km per liter.
XUV 3XO is offered in both petrol and diesel options. Its transmission options will include 6-speed manual, 6-speed automatic and 6-speed AMT. M&M will open online and offline orders for this model from May 15 and deliveries will begin from May 26. The company has said in a statement that its aim is to be among the top-2 companies in the compact SUV segment within 3 years.
