Mahindra & Mahindra Limited (OTCMKTS:MAHMF) Shares Shorted: Short Interest Down 49.1% in October

Mahindra & Mahindra Limited (OTCMKTS:MAHMF) was the recipient of a large drop in short interest in 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 currently 243.1 days.

Mahindra & Mahindra Trading Up 2.2%

Shares of MAHMF stock traded up $0.65 during trading hours on Monday, hitting $30.10. 1,419 shares of the company’s stock were exchanged, compared to its average volume of 677. Mahindra & Mahindra has a 12-month low of $29.41 and a 12-month high of $44.00. The business’s 50 day simple moving average is $32.40 and its 200-day simple moving average is $34.11.

Mahindra & Mahindra Company Profile

Mahindra & Mahindra Ltd. is an India-based diversified enterprise and the flagship company of the Mahindra Group. Founded in 1945 as Mahindra & Mohammed, the company initially assembled Willys Jeeps and has since developed into a major manufacturer of vehicles and agricultural equipment.

The company’s automotive business produces sport utility vehicles, passenger vehicles, light commercial vehicles, trucks, buses, and three-wheelers under the Mahindra brand. Its farm equipment business manufactures tractors and related agricultural machinery, serving farmers and other customers in India and international markets.