Mahindra and Mahindra , India's largest utility vehicle maker, said it would halt production for up to three days this month at its automotive factories to align output with sales requirements.
"The management does not envisage any adverse impact on availability of vehicles in the market due to adequacy of vehicle stocks to serve the market requirements," the company said in a statement to the stock exchange on Saturday.
The Indian auto industry is facing a second year of falling sales as high interest rates and fuel costs keep a lid on consumer spending in a slowing economy.
M&M stock price On January 17, 2014,
Mahindra and Mahindra closed at Rs 898.45, up Rs 5.90, or 0.66 percent. The 52-week high of the share was Rs 1026.45 and the 52-week low was Rs 741.50. The company's trailing 12-month (TTM) EPS was at Rs 59.31 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 15.15. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 3.77. Read more...
Source: Business News India
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