Stock Trading Tips- Mahindra forays into construction equipment space

Stocks of Mahindra & Mahindra was trading at Rs 1,282.55/share, up by Rs 28.8

M&M stocks Mahindra & Mahindra on Tuesday, by launching its first motor grader, announced a venture into construction equipment business. The Mumbai-based company today rolled out its first motor grader, Mahindra Road Master G75, under the business vertical, and is targeting to sell 200 units over the next 1 year, as stated by the company.

The Road Master G75, rolled out of the company’s Chakan plant, was developed and designed after deeply understanding of the needs of the road contractor fraternity. It aims to liberate them from deployment of different sub-optimal methods with limited mechanization whereby, improve their productivity, the statement added.

In an another development, Mahindra & Mahindra,  has announced its auto sales performance for Sept 2017 which stood at 53,663 vehicles as compared to 46,130 vehicles during Sept 2016, representing a growth of 16%. The company’s domestic sales witnessed a growth of 19%, selling 50,456 vehicles in Sept 2017 as compared to 42,545 vehicles in Sept 2016.

Stocks of M&M was trading at Rs 1,282.55 per share, up by Rs 28.8 or 2.3% as at during noon hours on Tuesday, on the BSE. The stock hit an intraday high of Rs 1256.05 and a low of Rs 1291.5