Mahindra & Mahindra slips over 2% as sales fall in April; top Sensex loser

NEW DELHI: Mahindra & Mahindra Ltd slipped as much as 2.4 per cent in morning trade on Friday and was also the top Sensex loser, after the automaker reported 12 per cent decline in total sales at 36,274 units in April.

Mahindra & Mahindra (M&M) had sold 41,432 units in the same month last year, the company said in a statement.

At 10:00 a.m.; M&M was trading 1.6 per cent lower at Rs 1054.50. It has hit a low of Rs 1046.10 and a high of Rs 1068 in trade today.

In April, M&M's domestic sales stood at 34,107 units as against 39,902 units in the same month of previous year, down 15 per cent.

The company expects that post the general elections, sentiments would improve, leading to a better economic situation and hence increased demand, he added.

The tractor sales during the month were impacted mainly due to the unseasonal rains in some parts of the country which impacted the sentiments of the farmers.