Mahindra shares rose by 2.6% in the last two trading sessions in spite of sentiment being dull on the Street. Graphic: Sarvesh Sharma/MintAfter a considerably long spell of deceleration, Mahindra and Mahindra Ltd (M&M) staged a strong comeback in the September quarter. The tractor and utility vehicle (UV) maker pulled off a gratifying operating performance through superior product mix, price hikes and strong sales in both its farm equipment and automotive divisions. Fuelling this was a strong 31% year-on-year jump in farm equipment sales and a 9% rise in automotive sales. As a result, profit (before interest and tax) margins for the farm equipment and auto divisions expanded from the year-ago period.

Source: Mint November 15, 2017 01:52 UTC