Mahindra's Farm Equipment Sector Sells 45888 Units in India during June 2024

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for June 2024.

Domestic sales in June 2024 were at 45888 units, as against 43364 units during June 2023.

Total tractor sales (Domestic + Exports) during June 2024 were at 47319 units, as against 44478 units for the same period last year. Exports for the month stood at 1431 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said "We have sold 45888 tractors in the domestic market during June '24, a growth of 6% over last year. The government's announcement of increased foodgrain production, an increase in MSP for major Kharif crops, and further advancement of the Southwest monsoon across the country brings positive sentiments with farmers. With retail momentum having picked up, supported by land preparation and an increase in Kharif crop sowing, demand for tractors is likely to remain strong in the upcoming months. In the export market, we have sold 1431 tractors, a growth of 28% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 2868.20 as compared to the previous close of Rs. 2884.80. The total number of shares traded during the day was 159236 in over 17265 trades.

The stock hit an intraday high of Rs. 2895.00 and intraday low of 2854.65. The net turnover during the day was Rs. 457604046.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume June2024