IndiaCatalog.com
India News
Search Web Directory
News Home
Floods, delayed start to festive season may hit tractor sales in July-September: Mahindra and Mahindra
Posted on 6th September 2018
Mahindra and Mahindra (M&M) managing director Pawan Goenka on Wednesday said tractor sales may be subdued during the July-September quarter because of floods in Kerala and several other parts of the country as well as a delayed start to the festival season which perks up buying.

However, Goenka added that sales are expected to pick up during the October-December quarter.

Speaking to a business news channel, he said the tractor industry will grow as per guidance at 12-14% during the current fiscal.

Unlike last year when the major festivals fell in September, this year they fall in October. Sales of passenger vehicles, tractors etc got dented in August because of floods in certain parts of the country and September is a month when Shraddh falls which is considered inauspicious for new purchases.

Goenka said M&M sold a total of 77,380 units of tractors during the July-September quarter in FY18, but during July-August this fiscal, sales have been of around 37,949 units. “In spite of rising input costs, we will be able to maintain our margins with rise in volumes in the festive season since increased volumes give enough opportunity to spread fixed cost,” he added.

During April-June, the company commanded a market share of 43.3% ahead of other major industry palyers, including TAFE (Tractors and Farm Euipment), Sonalika and Escorts which have 18.8%, 11.3% and 10.7% market share, respectively.

During the April-June quarter, M&M tractor sales were up 19% year-on-year at 97,360 units while the overall tractor sales grew by 27%.

Related Companies: Mahindra India   

Other Latest News
L&T buys shares of Mindtree worth Rs44 crore through open market
Posted on 23rd May 2019
MUMBAI: Construction major L&T on Thursday bought shares worth about ₹44.16 crore of Mindtree through open market transactions.

According to the bulk deal data available with the NSE, the firm bought over 0.45 million shares, at an average price of ₹979.91 a share.


Paytm Payment bank turns profitable: Reports net profit of Rs 19 crore in FY19
Posted on 23rd May 2019
Paytm Payments Bank Limited (PPB) Thursday said it has turned profitable within its second year of operation, reporting a profit of Rs 19 crore for the financial year 2018-2019. PPBL claimed to lead mobile banking transactions with over 19 per cent market share as of March 2019.

“Nearly a third of the total mobile banking transactions in India are powered by PPB and it processes over Rs 3 lakh crore worth of digital transactions on an annualised basis,” the company said in a statement.


NSE gets interim relief from SAT in co-location case
Posted on 23rd May 2019
The Securities Appellate Tribunal (SAT) on Wednesday stayed Sebi rulings that directed the National Stock Exchange to disgorge profits of over Rs 625 crore in the co-location case.

However, the tribunal directed the bourse to deposit Rs 625 crore with Sebi in two weeks. The exchange would have to continue to deposit revenues from the co-location facility to an escrow account.


Rupee rises 26 paise to 69.40/USD in early trade ahead of Lok Sabha elections outcome
Posted on 23rd May 2019
The rupee appreciated by 26 paise to 69.40 against the US dollar in opening trade Thursday, as counting of votes for the seven-phase Lok Sabha elections began across the country.

The counting exercise is on in over 4,000 counting centres. Most of the exit polls have predicted that the BJP-led National Democratic Alliance (NDA) is on course to retain power for a second term.


Hulst BV acquires additional 98,100 shares in NIIT Technologies
Posted on 23rd May 2019
New Delhi: Hulst BV has acquired additional 98,100 shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to 32.04 per cent, a regulatory filing said on Thursday.

On Wednesday, Hulst BV had acquired 1.23 lakh shares of NIIT Technologies taking its shareholding in the company to 31.88 per cent.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Floods, delayed start to festive season may hit tractor sales in July-September: Mahindra and Mahindra
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Floods, delayed start to festive season may hit tractor sales in July-September: Mahindra and Mahindra

Most Read News

Infosys to allocate up to 50 mn shares to incentivise staff

What Imran Khan should do to prevent Pakistan from FATF blacklisting

Reliance tops IOC in sales

Amazon's $575 mn investment delivers a $1 bn blow to food delivery sector

Ashok Leyland ready to ride on Elon Musk's India dream

More India News

Photo Gallery

Hero HX250R(11 Images) Hero HX250R
Kodi(10 Images) Kodi
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement