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M&M Plunges 4%; BSE AUTO Index Down 0.5%
Wed, 10 Jul 9:27

M&M Plunges 4%; BSE AUTO Index Down 0.5%Image source: asbe/www.istockphoto.com

M&M share price has plunged 4% and is presently trading at Rs 2,805.9.

Meanwhile, the BSE AUTO index is at 58,427.8 (down 0.5%).

Among the top losers in the BSE AUTO index today are TUBE INVESTMENTS OF INDIA (down 0.5%) and Bosch (down 0.3%).

Maruti Suzuki (up 1.4%) and Eicher Motor (up 1.1%) are among the top gainers today.

Over the last one year, M&M has moved up from Rs 1,550.7 to Rs 2,805.9, registering a gain of Rs 1,255.2 (up 80.9%).

On the other hand, the BSE AUTO index has moved up from 35,457.3 to 58,427.8, registering a gain of 64.8% during the last 12 months.

The top gainers among the BSE AUTO index stocks during this same period were Motherson Sumi (up 124.5%), Cummins India (up 110.7%) and Bajaj Auto (up 95.5%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,188.6 (down 0.2%).

The top losers among the BSE Sensex today are Kotak Bank (down 0.9%) and HDFC Bank (down 0.7%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,398.4 (down 0.1%). Axis Bank and TATA STEEL 2% CCPS are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 80,188.6, registering a gain of 14,844.4 points (up 22.7%).

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 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 31.3.

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