Mahindra & Mahindra Limited (OTCMKTS:MAHMF) Sees Large Decrease in Short Interest

Mahindra & Mahindra Limited (OTCMKTS:MAHMF) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 19,693 shares, a drop of 49.1% from the September 30th total of 38,652 shares. Based on an average daily trading volume, of 81 shares, the days-to-cover ratio is presently 243.1 days.

Mahindra & Mahindra Price Performance

Shares of OTCMKTS:MAHMF traded up $0.04 during midday trading on Friday, reaching $29.45. The company had a trading volume of 509 shares, compared to its average volume of 637. The business’s 50 day moving average price is $32.40 and its 200 day moving average price is $34.11. Mahindra & Mahindra has a 1-year low of $29.41 and a 1-year high of $44.00.

Mahindra & Mahindra Company Profile

Mahindra & Mahindra Ltd. is an India-based diversified company whose principal businesses include automotive manufacturing and farm equipment. Through its automotive operations, the company produces sport utility vehicles, multipurpose vehicles, commercial vehicles, pickup trucks and electric vehicles, as well as related automotive components and services.

Mahindra is also a major manufacturer of tractors and other agricultural machinery. Its broader group interests have included financial services, information technology, hospitality, logistics, real estate and renewable energy, although the company’s core operations are centered on mobility and farm equipment.

Founded in 1945 as Mahindra & Mohammed and renamed Mahindra & Mahindra in 1948, the company is headquartered in Mumbai, India.