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Mahindra & Mahindra nears 52-week low; stock slips 12% in one month
Posted on 6th December 2019
Shares of Mahindra & Mahindra (M&M) slipped 2 per cent to Rs 512 on the BSE on Friday and was trading close to its 52-week low level. The car & utility vehicles maker's stock is less than 2 per cent away from its 52-week low price of Rs 503, touched on August 14, in intra-day trade.
In past one month, M&M has underperformed the market by falling 12 per cent as the company's tractor sales delivered disappointing performance. In comparison, the benchmark index S&P BSE Sensex was up marginally by 0.33 per cent.

In November, M&M's tractor segment's volumes declined 19 per cent to 21,032 units, over the same month previous year. Within tractors, domestic volumes declined 19 per cent to 20,414 units, while exports were lower by 22 per cent to 618 units.

Yesterday, the Reserve Bank of India (RBI) cut the real GDP growth forecast for the second half (October-March) H2FY20 to 4.9 per cent to 5.5 per cent from 6.6-7.2 per cent earlier. Consequently, the real GDP growth forecast for FY20 has also been reduced sharply from 6.1 per cent earlier to 5 per cent (down by 240bp since the Feb'19 monetary policy meet).

While the RBI expects past measures such as monetary easing and the government's policy initiatives to spur domestic demand, weak domestic and external demand conditions have led to a cut in the growth forecast for FY20.

"Overall, an unexpected status quo confirms that the RBI prioritized rising inflation over grim economic growth. Our estimates suggest that inflation will remain close to or above 5 per cent by Mar'20, implying that a rate cut in the next MPC in Feb'20 is highly unlikely. Further, since our projections suggest that inflation will retreat toward 4 per cent only by Q3FY21, there is a good probability of a prolonged pause over the next 3-4 quarters," Motilal Oswal Securities said in a note.
Related Companies: Mahindra India   

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WHO in contact with Russia on new Covid-19 vaccine: Spokesman
Posted on 12th August 2020
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Gold price falls to Rs 53,951 per 10 gram, silver drops to Rs 71,211 a kg
Posted on 12th August 2020
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J&K: Indian Army jawan martyred, terrorist slain in encounter at Pulwama
Posted on 12th August 2020
An Indian Army jawan was martyred during an encounter between terrorists and security forces in Jammu and Kashmir's Pulwama district on Tuesday (August 12), while an unidentified terrorist was also killed in the encounter. Sources said that the injured Army jawan was shifted to Army hospital in Srinagar for treatment, following which he succumbed to his death.

The Chinar Corps of the Indian Army confirmed that one AK-47 along with grenades, pouches, and other warlike stores, has been recovered from the terrorists' stash. A search operation is currently underway.

Coronavirus Outbreak: With spike of 60,963 cases, India's COVID-19 tally tops 23.29 lakh
Posted on 12th August 2020
With nearly 61,000 new cases reported in the last 24 hours, India's COVID-19 count on Wednesday crossed the 23.29 lakh-mark, while the death toll has crossed the 46,000-mark as well.

At 9:30 AM on this day, the COVID-19 tally in the country has reached 23,29,639 cases, which include 6,43,948 active cases; 16,39,600 cured, discharged, or migrated patients, and 46,091 deaths.

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