Mahindra & Mahindra share price hits 52-week high as April sales surge

Mahindra & Mahindra share price: Shares of Mahindra and Mahindra Limited rose over 2 per cent to ₹2,204 today (May 2). With this the stock is at a new 52-week high for the company after it announced that its overall sales jumped 13 per cent at 70,471 vehicles in April.

Mahindra & Mahindra share price: The logo of Mahindra and Mahindra is seen on a car at a showroom in Mumbai, India.(Reuters)

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The company's shares have rallied 27 per cent in the last three months.

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Mahindra & Mahindra performance

Mahindra & Mahindra said that in the Utility Vehicles segment, the company sold 41,008 vehicles in the domestic markets which is a growth of 18 per cent.

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In the farm equipment business, the company recorded domestic sales at 35,805 units against 35,398 units during April 2023. Total tractor sales during the month were at 37,039 units against 36,405 units for the same period last year, the company said.

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Meanwhile, exports for the month stood at 1,234 units- higher than 1,007 reported in the same month last year.

Rajesh Jejurikar, Executive Director and CEO- Auto and Farm Equipment Sector, M&M, said, “We are number five in that sub-segment that is the size of 6 lakh and we hope to get number two or number one position in that.”

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