Mahindra's Farm Equipment Sector Sells 21,173 Units in India during December 2020

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 December 2020.

Domestic sales in December 2020 were at 21,173 units, as against 17,213 units during December 2019.

Total tractor sales (Domestic + Exports) during December 2020 were at 22,417 units, as against 17,991 units for the same period last year.

Exports for the month stood at 1,244 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 21,173 tractors in the domestic market during December 2020 with a growth of 23% over last year. The wholesale volumes continued to be strong fueled by restoration of channel inventory post the festive season, announcement of hike in tractor prices by major OEMs and anticipation of sustained demand on the back of higher Rabi acreage, GoI support in Kharif procurement & rural development schemes. In the exports market, we have sold 1,244 tractors, a growth of 60% over last year."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.720.4 as compared to the previous close of Rs. 720.65. The total number of shares traded during the day was 111810 in over 2387 trades.

The stock hit an intraday high of Rs. 725.2 and intraday low of 713.65. The net turnover during the day was Rs. 80478483.

Source : Equity Bulls

Keywords