One of the largest vehicle manufacturers in the world, Mahindra and Mahindra's market capital surged past Rs 1 trillion as its share gained as much as 2.23% to reach Rs 819.10 a share on BSE today. Rs 819.10 has been its intraday high for today and also its 52 week high.
M&M is the largest manufacturer of tractors in the world. It is now the second most valued automaker in India beating Tata Motors Ltd, Eicher Motors Ltd and Bajaj Auto Ltd. Maruti Suzuki India Ltd still remains the highest valued vehicle manufacturer in the country with a market cap of Rs 2.77 trillion.
The company's sales in tractor sales was up by 46.23% in March at 28,277 units compared to last year's sales of 19,337 units for the same month. In the fiscal year 2018, it experienced its best ever performance with a sale of 3 lakh tractors in the domestic markets; up by 22% in comparison to last year.
M&M has not yet released its results for the fourth quarter ending March 2018.