Mahindra & Mahindra has announced that its subsidiary Mahindra Gujarat Tractors Limited, now known as Gromax Agri Equipment Limited will provide distinctive and affordable mechanisation solutions to the farming community.
Gromax has announced the launch of its all new tractor brand 'Trakstar'. The brand will be present across five HP points in the 30-50 HP category. Mahindra & Mahindra has already four brands of tractors, Mahindra, Arjun Arjun Nuvo and Yuvo, in this category
In the 30-60 HP categaory, Gromax already manufactures and sells Shaktiman and Hindustan brand of tractors.
Mahindra & Mahindra, the world's largest tractor maker in terms of volume, said that Gromax will be an important element of the group's journey of transformation towards a higher penetration of farm mechanization and agricultural development for the welfare of the farmers to accelerate agricultural modernization.
Gromax is jointly owned by M&M and the Government of Gujarat with an equity ratio of 60% and 40%, respectively.
The Mahindra & Mahindra stock has not made any notable progress so far in the session. In fact, the stock is quite sluggish till now. However, the counter has witnessed unusually large volumes today.
At Rs 1373, the stock is down marginally from its previous closing price. It touched a high of Rs 1380.45 and a low of Rs 1366.50 in the session.
On the National Stock Exchange, the Mahindra & Mahindra counter has clocked a volume of around 8.93 lakh shares so far in the session. On BSE, more than 3.5 lakh shares have changed hands so far at the Mahindra & Mahindra counter today, as compared to average daily volume of just around 30,000 shares.
