Mahindra & Mahindra Shares Surge 7% on Profit Rise
Feb 15, 2024 19:25
Mahindra & Mahindra shares soared 7% on Thursday after the auto giant reported a 34% jump in its Q3 profit, driven by strong sales across segments. The stock hit a 52-week high on both NSE and BSE.
New Delhi, Feb 15 (PTI) Shares of Mahindra & Mahindra (M&M) surged 7 per cent on Thursday after the auto major reported a 34 per cent increase in its profit for the third quarter ended December.
The stock jumped 6.81 per cent to finish at Rs 1,769.85 apiece on NSE.
On BSE, Mahindra & Mahindra shares climbed 6.51 per cent to close at Rs 1,765.55 per piece.
During the day, the stock hit a 52-week high on both bourses.
In volume terms, 98.87 lakh shares changed hands on NSE, and 4.81 lakh equity shares were traded on BSE.
Sensex on Thursday rose 227.55 points or 0.32 per cent to settle at 72,050.38 points, while NSE Nifty climbed 0.32 per cent to close at 21,910.75 points.
In a regulatory filing on Wednesday, Mahindra & Mahindra (M&M) reported a 34 per cent increase in its consolidated profit after tax (PAT) at Rs 2,658 crore for the third quarter ended December 2023, driven by robust sales across verticals.
The auto major had reported a PAT of Rs 1,984 crore for the October-December quarter of the last financial year, the company said.
Its revenue increased 15 per cent to Rs 35,299 crore for the period under review compared to Rs 30,621 crore in the year-ago period, it added.
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