Mahindra Auto Sales August 2020 - Angel Broking

Mr. Jyoti Roy , DVP - Equity Strategist, Angel Broking Ltd

"M&M reported a 16% YoY contraction in automotive sales for August 2020 to 30,426 units. Domestic sales were down by 13% YoY to 29,257 units while exports were down by 54% YoY to 1,169 units. PV sales were up by 1% YoY to 13,651 units while CV sales were up by 4% YoY to 15,299 units led by strong growth in the LCV segment. Three wheeler sales were down by 94% YoY 307 units. The August numbers are a significant improvement over June and July numbers and we expect sales numbers to improve further in September and October led by pent up demand especially from rural areas and inventory push prior to the festive season."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.609.05 as compared to the previous close of Rs. 606.5. The total number of shares traded during the day was 115038 in over 2925 trades.

The stock hit an intraday high of Rs. 621.15 and intraday low of 605. The net turnover during the day was Rs. 70571381.

Source : Equity Bulls

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