Mahindra & Mahindra rose 1.54% to Rs 720.40 at 14:31 IST after posting 30 % growth in sales in August 2007 over August 2006.

The BSE Sensex, meanwhile, was up 66 points, or 0.44 %, to 15,386, as fears of a US economic slowdown eased after US President George W. Bush and Federal Reserve Chairman Ben Bernanke reassured investors on Friday, 31 August 2007, they would do what was needed to shelter the world's largest economy from recent market turmoil. Data released during trading hours on Friday (31 August 2007) showing strong economic growth in India in Q1 June 2007 and easing of inflation also aided upmove on the bourses.
On BSE, 89,110 shares were traded on the counter today. The scrip had an average daily volume of 1.86 lakh shares in the past one quarter.
Shares of India's largest tractor maker by sales had hit a high of Rs 721 and a low of Rs 685.10 so far during the day. The stock had touched a 52-week high of Rs 1002 on 16 January 2007 and a 52-week low of Rs 608 on 21 August 2007.
Mahindra & Mahindra (M&M) had outperformed the market over the last one month to 31 August 2007, rising 4.94% compared to the Sensex’s rise of 2.22%. It had however underperformed the market over the past quarter, declining 7% compared to the Sensex’s gain of 5.13%.
From a recent high of Rs 689.85 on 13 August 2007 the scrip declined 11.29% to Rs 611.95 on 21 August 2007. It rose since then to Rs 709.05 on 31 August 2007.
The company's current equity is Rs 245.53 crore. Face value per share is Rs 10.
The current market price of Rs 720.40 discounts its Q1 June 2007 annualised EPS of Rs 31.3 by a PE multiple of 23.01.
India's top utility vehicle maker, Mahindra & Mahindra said on Monday 3 September 2007 that its vehicle sales rose 30 % to 18,269 units in August 2007 over August 2006. Mahindra said domestic auto sales, including utility vehicles, light commercial vehicles and three-wheelers, rose 34 % to 17,438 units from 12,981 units a year earlier. Exports fell 21% to 831 units from 1,051 units.
Mahindra said it sold 2,252 units of the Logan sedan in August 2007, which it makes in a joint venture with Renault Mahindra. M&M sold 6,572 tractors in August 2007, up 4% from 6,310 a year earlier.
As per reports, Mahindra & Mahindra (M&M) is conducting due diligence on Jaguar and Land Rover, put on the block by Ford. Other potential bidders include private equity groups TPG Capital, Cerberus Capital Management, Ripplewood Holdings, One Equity Partners and Tata Motors.
Net profit of Mahindra & Mahindra declined 6.37% to Rs 191.17 crore on a 16.84% rise in sales to Rs 2612.78 crore in Q1 June 2007 over Q1 June 2006.
M&M, a home grown automobile major, manufactures and markets utility vehicles and tractors.