Stock Report

Mahindra's Farm Equipment Sector Sells 24,168 Units in India during July 2023

Posted On : 2023-08-01 18:44:14( TIMEZONE : IST )

Mahindra's Farm Equipment Sector Sells 24,168 Units in India during July 2023

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for July 2023. Domestic sales in July 2023 were at 24,168 units, as against 21,684 units during July 2022.

Total tractor sales (Domestic + Exports) during July 2023 were at 25,175 units, as against 23,307 units for the same period last year. Exports for the month stood at 1,007 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 24168 tractors in the domestic market during July, with a growth of 11% over last year. The cumulative seasonal rainfall spread across the country has recovered very well in the month of July and this has helped sowing of kharif acreage to pick up momentum. Aggregate sowing of Kharif crops is now ahead of last year, with most key crops including paddy and oil seeds have recovered, though pulses is still lagging in sowing. Terms of trade are now in favour of farmers, with continued decrease in input costs. The sentiments are positive in rural economy, and this is likely to support demand in the coming months. In the exports market, we have sold 1007 tractors".

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1493.25 as compared to the previous close of Rs. 1475.95. The total number of shares traded during the day was 119707 in over 9663 trades.

The stock hit an intraday high of Rs. 1503.85 and intraday low of 1470.05. The net turnover during the day was Rs. 178485872.00.

Source : Equity Bulls


MahindraandMahindra INE101A01026 Tractors SalesVolume July2023