The announcement was made during trading hours today, 8 November 2012.
Meanwhile, the BSE Sensex was down 59.41 points, or 0.31%, to 18,843.
On BSE, 59,000 shares were traded in the counter as against an average daily volume of 1.86 lakh shares in the past two weeks.
The stock hit a high of Rs 923.05 and a low of Rs 910 so far during the day. The stock had hit a 52-week high of Rs 926 on 7 November 2012. The stock had hit a 52-week low of Rs 621.75 on 18 May 2012.
In Q2 September 2012, some of the major group companies like Mahindra Finance, Mahindra Satyam and Mahindra Holidays significantly improved their performance over Q2 September 2012. Mahindra Finance grew its consolidated revenue by 46% and its profit by 42%, Mahindra satyam's consolidated revenue grew by 23% with a 17% increase in its profits and Mahlndra Holidays operating revenue grew by 11% with a profit growth of 12%.
In view of the disposal of shares by a joint venture partner, Tech Mahindra became an associate of the company with effect from 1 September 2012 and its Gross Revenue and Other Income have been included in this consolidation only upto 31 August 2012. Hence the Consolidated Revenue for the current quarter and half year are not strictly comparable with that of the corresponding periods In the previous year.
As on 30 September 2012, the group comprised of 118 subsidiaries, 5 joint ventures and 12 associates.
Mahindra and Mahindra (M&M) during trading hours on 1 November 2012 said its total auto sales jumped 29% to a record 53,438 in October 2012 over October 2011. M&M's total passenger vehicles jumped 44% to a record 26,932 units in October 2012 over October 2011.
The company's domestic auto sales jumped 30% to 51,316 units during October 2012 over October 2011. The 4 wheeler commercial segment which includes the passenger and load categories registered a growth of 26% at 16,561 units in October 2012 over October 2011. Exports declined 1% to 2,122 units.
M&M said that the production of XUV500 has been increased to 5,000 units per month starting October 2012, which will help in reducing the waiting period for one of the flagship products of the company.
M&M on 1 November 2012 said its farm equipment sector (FES) maintained its leadership position in the tractor industry in October 2012. Domestic tractor sales declined 5.39% to 28,872 units in October 2012 over October 2011. The company's total tractors sales including exports declined 7.13% to 29,565 units in October 2012 over October 2011. Exports for the month of October 2012 stood at 693 units.
The combined net profit of M&M and its 100% subsidiary -- Mahindra Vehicle Manufacturers (MVML) -- jumped 28.4% to Rs 978.10 crore on 31% growth in gross revenue plus other income to Rs 10786.70 crore in Q2 September 2012 over Q2 September 2011. MVML, located at Chakan near Pune in Maharashtra, has been set up as a 100% subsidiary of M&M with a view to source contemporary products for expanding the market offering of M&M.
The Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.
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