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M&M Gains 3%; BSE AUTO Index Up 1.3%
Mon, 24 Jun 21:6

M&M Gains 3%; BSE AUTO Index Up 1.3%Image source: Nikada/www.istockphoto.com

M&M share price has zoomed 3% and is presently trading at Rs 2,915.9.

Meanwhile, the BSE AUTO index is at 57,497.0 (up 1.3%).

Among the top gainers in the BSE AUTO index today are TUBE INVESTMENTS OF INDIA (up 7.5%) and Cummins India (up 3.8%).

Escorts (down 1.8%) and Tata Motors (down 0.3%) are among the top losers today.

Over the last one year, M&M has moved up from Rs 1,374.0 to Rs 2,915.9, registering a gain of Rs 1,541.9 (up 112.2%).

On the other hand, the BSE AUTO index has moved up from 34,139.4 to 57,497.0, registering a gain of 68.4% during the last 12 months.

The top gainers among the BSE AUTO index stocks during this same period were Motherson Sumi (up 119.3%), Cummins India (up 117.8%) and M&M (up 112.2%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 77,341.1 (up 0.2%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 2.2%) and Sun Pharma (up 1.9%). The most traded stocks in the BSE Sensex are SBI and ICICI Bank.

In the meantime, NSE Nifty is at 23,537.8 (up 0.2%). Power Grid Corp. and Shriram Transport are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,523.2 to 77,341.1, registering a gain of 13,817.9 points (up 21.8%).

M&M Financial Update...

M&M net profit fell 1.2% YoY to Rs 27,302 million for the quarter ended March 2024, compared to a profit of Rs 27,622 million a year ago. Net sales rose 9.2% to Rs 354,517 million during the period as against Rs 324,557 million in January-March 2023.

For the year ended March 2023, M&M reported 56.8% increase in net profit to Rs 113,745 million compared to net profit of Rs 72,530 million during FY22. Revenue of the company grew 34.5% to Rs 1,212,686 million during FY23.

The current Price to earnings ratio of M&M, based on rolling 12 month earnings, stands at 32.5.

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