M&M Shares Rally Nearly 5% After Strong Q2 Results

M&M shares surged nearly 5% to ₹3,104 on November 5 after the company reported strong Q2 FY27 results, supported by robust growth in its automotive business. Consolidated net profit rose 25% year-on-year to ₹4,588 crore, while revenue increased 25% to ₹57,553 crore compared with the same quarter last year. The automotive segment remained the key growth driver, with vehicle sales increasing 26% to 3.31 lakh units. Revenue from the automotive business climbed 39% to ₹37,756 crore, while its profit after tax jumped 55% to ₹2,388 crore. The company's standalone net profit also grew 13% to ₹5,102 crore, with revenue from operations rising 26% to ₹44,282 crore. However, the farm equipment business reported some weakness, with revenue declining 6% to ₹9,572 crore and net profit falling 9% to ₹1,053 crore. Despite the moderation in the farm segment, strong automobile demand and improved performance across key businesses supported investor sentiment, driving Mahindra & Mahindra! shares higher following the earnings announcement.