Mahindra and Mahindra Ltd fell 2.4 percent on worries that weak monsoon may hit its tractor sales, investors say.
Nearly a third of the company`s revenues come from tractor sales which are largely dependent on farmers` incomes that can get severely impacted due to any shortfall in rains, analysts say.
The monsoon has covered half of India`s landmass four days behind the usual schedule, failing to recover from a late start that has slowed sowing of summer crops in a country where half of the farmland still lacks irrigation.
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