Mahindra's Farm Equipment Sector Sells 31,069 Units in India during November 2023

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for November 2023.

Domestic sales in November 2023 were at 31,069 units, as against 29,180 units during November 2022.

Total tractor sales (Domestic + Exports) during November 2023 were at 32,074 units, as against 30,528 units for the same period last year. Exports for the month stood at 1,005 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said "We have sold 31069 tractors in the domestic market during November 2023, a growth of 6% over last year. The festive season saw high demand pull in the domestic market, supported by Kharif harvest realisations, with retails being strong during Dhanteras and Diwali. Terms of trade continue to be favourable for farmers; while rural spending by Government and progress in Rabi sowing are the factors to watch out for. In the exports market, we have sold 1005 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1647.60 as compared to the previous close of Rs. 1618.90. The total number of shares traded during the day was 74770 in over 3878 trades.

The stock hit an intraday high of Rs. 1660.00 and intraday low of 1615.55. The net turnover during the day was Rs. 122939822.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume November2023