Wednesday, January 2, 2019

M&M tanks 4% for second consecutive day

Image result for mahindra and mahindra logo

 Mahindra & Mahindra shares have lost 4 per cent  and closed at Rs 740 in today's trade. The stock had lost similar percentage in yesterday's trading. The company reported disappointing sales numbers for December 2018 due to tight liquidity and low buying sentiment.

The company said it has sold 17,404 units of tractors in December, down 6 per cent as compared to 18,488 units sold in the same month last year.

Domestic tractor sales were down 2 per cent year-on-year to 16,210 units, while exports sales almost halved to 894 units in the month of December against 1,633 units in the previous year.

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