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M&M auto sales Impetus, Stock Up

MAHINDRA HOLIDAYS STAKE

Mahindra&Mahindra Limited (M&M) sold 17,723 Vehicles (UV) in June 2019, a growth of 8pc over June 2018, the company reported. The Passenger Vehicles variants sold 18,826 nos in June 2019, V/s 18,137 variants during the corresponding period last year, a growth of 4%. In the CV segment, the company sold 16,394 vehicles in June 2019, on year on year basis, whereas exports for June 2019 stood at 3,076 vehicles.

With response to this positive development, the stock of Mahindra&Mahindra which opened at Rs.657 per share has touched an intraday high at Rs.663.45 and closed at Rs.660per share on the NSE, whose benchmark Nifty closed at 11865.60 up 76.75 points and the Sensex scaled at 39,686.50 up by 39,686.50 on Monday, 1-July.