M&M to expand overseas farm business
Bhagyashree Vivarekar / 06 Mar 2017
Mahindra & Mahindra is escalating the international play for its tractors and farm machinery business, targeting to earn 50 per cent of the revenues from the overseas market in the next couple of years.
Mahindra & Mahindra is escalating the international play for its tractors and farm machinery business, targeting to earn 50 per cent of the revenues from the overseas market in the next couple of years. M&M is also open for acquisitions to expand its reach and product capabilities.
The global farm equipment market is estimated at $156 billion of which tractors contribution is only $60 billion. Currently, tractors bring in about 85 per cent of M&M sales for the farm segment, while the rest is from farm machinery. The company’s target is to bring down the share of tractors to 79 per cent by FY19. The company is targeting the markets of North and South America, China, Japan and Turkey to boost its farm exports, where it already has ground presence.
In today’s trading session, M&M’s stock on BSE opened at Rs 1319.5 and rose 1.5 per cent to touch the day's high of Rs 1338.7. The stock is currently trading at Rs 1328, up 0.6 per cent as compared to previous close of Rs 1319.5.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.