Mahindra & Mahindra Farm Equipment Sector (FES), a part of the USD 16.5 billion Mahindra Group, maintained its leadership position in the Indian tractor industry during September 2014. Domestic sales in September 2014 stood at 27,321 units, as against 25,922 units during September 2013.
Total tractor sales (domestic + exports) during September 2014 stood at 28,739 units, as against 26,637 units for the same period last year, a growth of 7.89%. Export for the month stood at 1,418 units.
Commenting on the monthly performance, Rajesh Jejurlkar, chief executive, farm equipment and two wheeler division, Mahindra & Mahindra, ''We are happy to have achieved a domestic growth of 5% during September 2014. The festive season has provided a boost to domestic tractor industry growth. We do hope that this growth continues over the next few months.''
Shares of the company gained Rs 29.7, or 2.18%, to trade at Rs 1,392. The total volume of shares traded was 53,071 at the BSE (3.21 p.m., Wednesday).