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M&M hits 1 lakh crore market cap, recovery in tractor sales a positive trigger

Updated : January 13, 2021 03:17 PM IST

Mahindra & Mahindra (M&M) stock surged on Wednesday to trade at fresh record high and hit 1 lakh crore market cap. It is up 50 percent in just the last six months.

There has been a big recovery in the tractor segment and December tractor sales for M&M went up 25 percent on a year-on-year basis. Their tractor margins have hit record highs of 24.3 percent.

Also, the market share in the tractor business has risen to about 41 percent as in the end of FY20.

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