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m&m share price slips 6% on weak feb production, sales data

Friday, Mar 6 2020 11:18AM

Mahindra and Mahindra (M&M) share price slipped 6 percent intraday on March 6 after the Mumbai-headquartered company reported poor production and sales numbers for February 2020.

The company's February production was down 56 percent to 25,643 vehicles against 58,231 units in the year-ago period.

The sales also declined 43 percent to 30,083 units against 52,799, while exports were down 40 percent at 1,831 units, YoY.

Mahindra Holidays & Resorts India (MHRIL), a subsidiary of the company, said that Are Villa 1 AB and Are Villa 2 AB have ceased to be the subsidiaries of Holiday Club Sweden AB and in tum of Holiday Club Resorts Oy, Finland and in tum of MHRIL.

Consequently, Are Villa 1 AB and Are Villa 2 AB ceased to be the subsidiaries of the company from March 4.

At 1055 hours, Mahindra and Mahindra was quoting at Rs 468.00, down Rs 11.25, or 2.35 percent, on the BSE.

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