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M&M Plunges 3%; BSE AUTO Index Down 0.9%
Thu, 28 Nov 11:53

M&M Plunges 3%; BSE AUTO Index Down 0.9%Image source: Nikada/www.istockphoto.com

M&M share price has plunged 3% and is presently trading at Rs 2,924.0.

Meanwhile, the BSE AUTO index is at 52,669.7 (down 0.9%).

Among the top losers in the BSE AUTO index today are Eicher Motor (down 2.0%) and Balkrishna Ind (down 1.1%).

TUBE INVESTMENTS OF INDIA (up 5.2%) and Tata Motors (up 0.2%) are among the top gainers today.

Over the last one year, M&M has moved up from Rs 1,566.0 to Rs 2,924.0, registering a gain of Rs 1,358.1 (up 86.7%).

On the other hand, the BSE AUTO index has moved up from 39,243.6 to 52,669.7, registering a gain of 34.2% during the last 12 months.

The top gainers among the BSE AUTO index stocks during this same period were M&M (up 86.7%), Cummins India (up 85.0%) and Motherson Sumi (up 80.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,537.5 (down 0.9%).

The top losers among the BSE Sensex today are Infosys (down 2.8%) and Tech Mahindra (down 2.6%). The most traded stocks in the BSE Sensex are MUNDRA PORT & SEZ and Axis Bank.

In the meantime, NSE Nifty is at 24,107.2 (down 0.7%). Infosys and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,174.2 to 79,537.5, registering a gain of 13,363.3 points (up 20.2%).

M&M Financial Update...

M&M net profit grew 27.9% YoY to Rs 28,947 million for the quarter ended September 2024, compared to a profit of Rs 22,637 million a year ago. Net sales rose 10.1% to Rs 379,237 million during the period as against Rs 344,355 million in July-September 2023.

For the year ended March 2024, M&M reported 7.9% increase in net profit to Rs 122,698 million compared to net profit of Rs 113,745 million during FY23. Revenue of the company grew 14.0% to Rs 1,382,793 million during FY24.

The current Price to earnings ratio of M&M, based on rolling 12 month earnings, stands at 31.4.


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