Mahindra & Mahindra stock climbs over 5% on multifold rise in Q2 profit
The large cap stock touched an intraday high of Rs 905, gaining 5.32% against the previous close of Rs 859.25 on the BSE.
- Nov 9, 2021,
- Updated Nov 9, 2021 5:00 PM IST
Shares of auto major Mahindra & Mahindra rose over 5% today after the firm reported a multifold rise in its net profit for July-September quarter. The large cap stock touched an intraday high of Rs 905, gaining 5.32% against the previous close of Rs 859.25 on the BSE.
M&M share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has risen 25% since the beginning of this year and zoomed 46% in year 2021.
Total 12.42 lakh shares of the firm changed hands amounting to turnover of Rs 24.50 crore. Market cap of the firm rose to Rs 1.11 lakh crore.
Later, the stock closed 5.21% higher at Rs 904. Net profit rose to Rs 1,432 crore in the July-September quarter against Rs 162 crore in the year-ago period.
Revenue climbed 15 per cent year-on-year (YoY) to Rs 13,305 crore in Q2, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined 19 per cent to Rs 1,660 crore.
M&M said its auto business continues to maintain strong booking pipeline for its key products. The company sold 9 per cent higher vehicles during the quarter at 99,334 units, while its tractor sales declined 5 per cent to 88,920 units.
Shares of auto major Mahindra & Mahindra rose over 5% today after the firm reported a multifold rise in its net profit for July-September quarter. The large cap stock touched an intraday high of Rs 905, gaining 5.32% against the previous close of Rs 859.25 on the BSE.
M&M share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has risen 25% since the beginning of this year and zoomed 46% in year 2021.
Total 12.42 lakh shares of the firm changed hands amounting to turnover of Rs 24.50 crore. Market cap of the firm rose to Rs 1.11 lakh crore.
Later, the stock closed 5.21% higher at Rs 904. Net profit rose to Rs 1,432 crore in the July-September quarter against Rs 162 crore in the year-ago period.
Revenue climbed 15 per cent year-on-year (YoY) to Rs 13,305 crore in Q2, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined 19 per cent to Rs 1,660 crore.
M&M said its auto business continues to maintain strong booking pipeline for its key products. The company sold 9 per cent higher vehicles during the quarter at 99,334 units, while its tractor sales declined 5 per cent to 88,920 units.