Todays Market Nifty 8510.10 (-55.75) (-0.65%)

Sensex 27710.52 (-205.37) (-0.74%)

M&M drops ex-dividend

Rs 1,460.10 and a low of Rs 1,437.35 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 0.82% based on the closing price of Rs 1,460.50 yesterday, 20 July 2015.

M&Ms net profit rose 6% to Rs 583.73 crore on 14.8% growth in net sales to Rs 10666.43 crore in Q4 March 2016 over Q4 March 2015.

The Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.