Mahindra's Farm Equipment Sector Sells 33,562 Units in India during January 2021

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 January 2021.

Domestic sales in January 2021 were at 33,562 units, as against 22,329 units during January 2020.

Total tractor sales (Domestic + Exports) during January 2021 were at 34,778 units, as against 23,116 units for the same period last year.

Exports for the month stood at 1,216 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 33,562 tractors in the domestic market during January 2021 with a growth of 50% over last year. Tractor demand continues to be strong with expansion in Rabi acreage, very high reservoir levels and higher liquidity in the hands of farmers with timely Kharif procurement. Demand is expected to remain robust on account of these factors and higher allocations which are expected for Agriculture in the upcoming Budget in line with Government's continued focus on Agriculture & Rural sector. In the exports market, we have sold 1,216 tractors, a growth of 55% over last year."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.749.9 as compared to the previous close of Rs. 765.75. The total number of shares traded during the day was 260004 in over 8949 trades.

The stock hit an intraday high of Rs. 799.85 and intraday low of 746.2. The net turnover during the day was Rs. 201831907.

Source : Equity Bulls

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