Mahindra's Farm Equipment Sector Sells 42,361 Units in India during September 2020, registers a growth of 18%

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for September 2020.

Domestic sales in September 2020 were at 42,361 units, as against 36,046 units during September 2019.

Total tractor sales (Domestic + Exports) during September 2020 were at 43,386 units, as against 37,011 units for the same period last year.

Exports for the month stood at 1,025 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 42,361 tractors in the domestic market during September 2020, a growth of 18% over last year. Retail demand continued to be buoyant backed by a very good monsoon, higher kharif acreage and continued government support, including higher MSPs for key crops. We are looking forward to a very robust demand for the festive season ahead. In the exports market, we have sold 1,025 tractors, a growth of 6% over last year."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.606.45 as compared to the previous close of Rs. 613. The total number of shares traded during the day was 416079 in over 3173 trades.

The stock hit an intraday high of Rs. 623 and intraday low of 605.5. The net turnover during the day was Rs. 254730444.

Source : Equity Bulls

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