Share price of Mahindra and Mahindra (M&M) surged 5 percent intraday Friday on the back of better sales number declared by the company for the month of January 2019.
The company's total sales stood at 55,722 vehicles, a rise of 7 percent compared to 52,063 vehicles during January 2018.
The company's domestic sales was 52,500 vehicles versus 49,432 vehicles in January 2018, a growth of 6%. Its Passenger Vehicles segment sold 23,872 vehicles against 23,686 vehicles.
In the commercial vehicles segment, the company sold 22,625 vehicles versus 21,002 vehicles, a growth of 8%. In its Medium and Heavy Commercial Vehicles (MHCV) segment, company sold 849 vehicles for the month. Exports stood at 3,222 vehicles, a growth of 22%.
Rajan Wadhera, President, Automotive Sector, M&M said, "The first month of the new calendar year continues to be on an overall growth path. There is buoyancy in rural growth, commodity costs are levelling, fuel prices are coming down and we see improvement in Forex movement, which in turn will drive positive customer sentiment."
At 13:15 hrs Mahindra and Mahindra was quoting at Rs 713.55, up Rs 32.75, or 4.81 percent on the BSE.
For more market news, click here First Published on Feb 1, 2019 01:27 pm
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