India's Mahindra slides as September tractor sales drop

Mahindra And Mahindra

01/10/2026 05:30

** Shares of Mahindra & Mahindra MAHM.NS fall 2.2% to 2,887 rupees; at lowest since April 2025
** Co's September total tractor sales, which include domestic and export sales, fall 21% y/y
** MAHM's total vehicle exports, which include passenger vehicles, three-wheelers and commercial vehicles, drop 7% in September 
** Total domestic passenger vehicle sales, however, rise 14%   
** Stock has been below its 50-day, 100-day, 200-day simple moving avgs since early Sept, indicating bullish sentiment
** Avg rating of 34 analysts covering the stock is "buy" and median PT is 4,200 rupees - data compiled by LSEG
** YTD, MAHM down ~22%

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))