M&M shares drop from intraday high despite strong August sales
Mahindra & Mahindra shares traded at ₹3,302 on the National Stock Exchange as of 12:36 pm on Tuesday, up ₹20 or 0.61 per cent from the previous close of ₹3,282. The stock had opened sharply higher at ₹3,367 following the release of strong August 2026 sales data before market hours, but failed to sustain the early gains.
By midday, the share price had fallen nearly ₹86 from its intraday peak of ₹3,368, trading closer to the day’s low of ₹3,282. Selling pressure dominated the session, with 60.73 per cent of the total queued quantity on the sell side compared to 39.27 per cent on the buy side, reflecting cautious trader sentiment.
Traded volume reached 8.81 lakh shares with a traded value of ₹292.33 crore by midday. Deliverable volume accounted for 52.24 per cent of total trades, indicating a meaningful share of non-speculative activity.
The company reported a 50 per cent year-on-year increase in domestic SUV sales to 59,257 units in August, driving total vehicle sales up 42 per cent to 1,07,648 units. The Farm Equipment Business sold 27,595 tractors, a 5 per cent rise, while the Trucks and Buses segment recorded 2,495 units, up 47 per cent.
Despite the operational strength, the stock’s year-to-date return remains negative at 12.20 per cent, lagging behind the Nifty 50’s 7.80 per cent gain over the same period. The 52-week high of ₹3,839.90, set in January 2026, remains well above current levels, though the stock has recovered from its 52-week low of ₹2,896 touched in March. Annualised volatility stood at 33.82 per cent at the time of reporting.
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