📅 Mahindra & Mahindra Limited Seasonality
Mahindra & Mahindra Limited (M&M) has ended September higher in 14 of the last 22 years (64%), with an average September move of +2.0%. The strongest September was 2012 (+13.3%) and the weakest was 2008 (-12.0%).
M&M · data since 2004 (23 yrs)
Prices through 01 Sep 2026
14/22
Septembers closed higher
+2.0%
Avg September move
+0.9%
September so far
April
Best month · avg +5.8%
March
Weakest month · avg -1.1%
23
Years of history
Current month: September 2026
historically up 64% of years (14/22)
avg +2.0%
best 2012 +13.3%
worst 2008 -12.0%
so far +0.9%
Mahindra & Mahindra Limited's historically strongest month is April — up in 15 of 23 years (65%) with an average gain of +5.8%. The weakest month has been March, averaging -1.1% with gains in only 10 of 23 years. The most consistent month by hit rate is July (19/23 years positive).
📊 Average return by month
Bars above the zero line are months M&M typically gained; hover for hit rates.
🗓️ Month-by-month returns (2004–2026)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | -0.8 | -0.7 | -1.1 | +5.8 | +5.2 | +3.2 | +4.7 | +1.3 | +2.0 | +0.2 | +3.3 | +2.0 |
| Up % | 41% | 43% | 43% | 65% | 65% | 74% | 83% | 52% | 64% | 59% | 68% | 55% |
| 2026 | -7.5 | -1.0 | -13.0 | +4.8 | -1.7 | +0.8 | +10.7 | -3.4 | +0.9 | · | · | · |
| 2025 | -0.6 | -13.5 | +3.1 | +9.9 | +1.6 | +6.9 | +0.6 | -0.1 | +7.1 | +1.8 | +7.7 | -1.3 |
| 2024 | -4.5 | +17.0 | -0.6 | +12.2 | +16.2 | +14.4 | +1.4 | -3.5 | +10.3 | -11.8 | +8.7 | +1.4 |
| 2023 | +10.4 | -7.9 | -8.7 | +5.9 | +7.5 | +10.2 | +1.5 | +6.8 | -1.3 | -6.2 | +13.0 | +5.0 |
| 2022 | +5.8 | -10.7 | +2.0 | +14.3 | +12.2 | +5.7 | +6.5 | +12.4 | -3.1 | +6.3 | -3.2 | -4.3 |
| 2021 | +4.0 | +7.6 | -1.4 | -5.4 | +7.4 | -3.7 | -4.4 | +6.8 | +1.2 | +10.1 | -5.5 | +0.2 |
| 2020 | +6.7 | -19.4 | -37.7 | +28.7 | +19.0 | +17.0 | +18.7 | +0.1 | +0.2 | -2.3 | +21.5 | -0.2 |
| 2019 | -15.4 | -5.0 | +1.6 | -1.6 | +0.3 | +1.3 | -16.1 | -3.9 | +3.5 | +10.8 | -12.5 | +0.2 |
| 2018 | +9.3 | -4.5 | +1.4 | +18.2 | +5.7 | -2.7 | +4.3 | +3.1 | -10.8 | -11.0 | +3.3 | +1.6 |
| 2017 | +4.7 | +5.8 | -1.9 | +3.8 | +6.1 | -4.8 | +5.0 | -4.2 | -6.7 | +7.2 | +4.6 | +6.8 |
| 2016 | -3.1 | -0.4 | -1.4 | +9.9 | -0.7 | +8.1 | +3.4 | -2.1 | -2.2 | -6.7 | -9.7 | -0.0 |
| 2015 | +2.5 | +1.2 | -7.2 | -3.6 | +9.9 | +1.9 | +7.3 | -10.5 | +3.5 | -6.3 | +15.4 | -6.8 |
| 2014 | -5.7 | +9.5 | +0.6 | +9.5 | +15.0 | -7.1 | +6.0 | +17.1 | -3.3 | -4.0 | +1.3 | -6.7 |
| 2013 | -4.5 | -1.7 | -1.4 | +7.3 | +4.7 | +0.3 | -4.7 | -14.1 | +5.6 | +7.3 | +6.5 | -0.1 |
| 2012 | -1.2 | +5.4 | -1.4 | +1.4 | -8.1 | +8.4 | +0.8 | +8.9 | +13.3 | +2.3 | +7.1 | -1.6 |
| 2011 | -8.3 | -13.7 | +13.7 | +8.0 | -11.1 | +4.4 | +4.4 | +2.4 | +9.0 | +7.5 | -16.2 | -6.0 |
| 2010 | -5.9 | -1.0 | +7.4 | -2.8 | +8.8 | +9.5 | +7.1 | -5.3 | +10.3 | +6.1 | +4.3 | +1.7 |
| 2009 | +10.1 | +3.1 | +23.1 | +27.2 | +37.1 | +3.3 | +26.0 | +0.5 | +2.3 | +4.4 | +11.6 | +5.0 |
| 2008 | -22.9 | +4.0 | +0.8 | -3.9 | -11.9 | -17.2 | +9.7 | +10.7 | -12.0 | -26.5 | -25.0 | -2.3 |
| 2007 | -0.8 | -10.0 | -2.9 | -0.3 | -2.6 | -4.5 | +1.3 | -2.8 | +6.2 | +0.3 | -3.3 | +18.1 |
| 2006 | +9.1 | +5.3 | +6.6 | -0.4 | -2.2 | +3.6 | -5.1 | +9.5 | +5.2 | +15.0 | +5.0 | +10.6 |
| 2005 | -1.0 | -0.5 | -7.5 | -10.9 | +15.4 | +11.7 | +22.2 | +5.9 | +4.7 | -4.9 | +26.9 | +12.3 |
| 2004 | · | +13.6 | -0.0 | +1.1 | -9.9 | +6.7 | +2.2 | -5.2 | -0.1 | +3.9 | +10.1 | +11.4 |
🏆 Top 25 seasonal picks — September 2026
| # | Stock | Record | Win % | Avg return | So far |
|---|---|---|---|---|---|
| 1 | TVSMOTOR TVS Motor Company Limited | 20/22 yrs up | 91% | +10.8% | +0.2% |
| 2 | GAIL GAIL (India) Limited | 18/22 yrs up | 82% | +4.7% | -2.5% |
| 3 | FEDERALBNK The Federal Bank Limited | 18/22 yrs up | 82% | +4.3% | -1.8% |
| 4 | BALKRISIND Balkrishna Industries Limited | 16/20 yrs up | 80% | +3.3% | +2.2% |
| 5 | RPGLIFE RPG Life Sciences Limited | 17/22 yrs up | 77% | +9.7% | -1.7% |
| 6 | ESCORTS Escorts Kubota Limited | 17/22 yrs up | 77% | +8.6% | +0.4% |
| 7 | BBTC The Bombay Burmah Trading Corporation Limited | 17/22 yrs up | 77% | +8.3% | +2.2% |
| 8 | MUNJALAU Munjal Auto Industries Limited | 17/22 yrs up | 77% | +7.7% | +4.4% |
| 9 | VIPIND VIP Industries Limited | 17/22 yrs up | 77% | +7.5% | +0.5% |
| 10 | MARUTI Maruti Suzuki India Limited | 17/22 yrs up | 77% | +7.1% | -1.1% |
| 11 | GMBREW GM Breweries Limited | 17/22 yrs up | 77% | +7.0% | -0.2% |
| 12 | SPLPETRO Supreme Petrochem Limited | 17/22 yrs up | 77% | +6.9% | -1.7% |
| 13 | MOTHERSON Samvardhana Motherson International Limited | 17/22 yrs up | 77% | +6.1% | -2.3% |
| 14 | BAJAJ-AUTO Bajaj Auto Limited | 17/22 yrs up | 77% | +5.8% | +3.5% |
| 15 | GRASIM Grasim Industries Limited | 17/22 yrs up | 77% | +5.0% | +0.2% |
| 16 | BANKBARODA Bank of Baroda | 17/22 yrs up | 77% | +4.1% | +0.3% |
| 17 | ZFCVINDIA ZF Commercial Vehicle Control Systems India Limited | 17/22 yrs up | 77% | +3.7% | +1.2% |
| 18 | BLUESTARCO Blue Star Limited | 17/22 yrs up | 77% | +3.4% | +0.7% |
| 19 | DEEPAKNTR Deepak Nitrite Limited | 12/15 yrs up | 80% | +4.6% | +2.7% |
| 20 | CEATLTD CEAT Limited | 14/18 yrs up | 78% | +8.6% | -0.6% |
| 21 | PANACEABIO Panacea Biotec Limited | 16/22 yrs up | 73% | +9.5% | +1.4% |
| 22 | TATAINVEST Tata Investment Corporation Limited | 16/22 yrs up | 73% | +8.4% | -1.1% |
| 23 | CCL CCL Products (India) Limited | 16/22 yrs up | 73% | +7.9% | -1.4% |
| 24 | SURYAROSNI Surya Roshni Limited | 16/22 yrs up | 73% | +7.3% | +0.5% |
| 25 | EICHERMOT Eicher Motors Limited | 16/22 yrs up | 73% | +7.2% | +0.2% |
“So far” = return in the current (incomplete) period. Full methodology and the
past-performance record of these lists: Seasonality hub →
Current quarter: Q3 2026
historically up 68% of years (15/22)
avg +7.9%
so far +8.7%
By quarter, Q2 (Apr–Jun) has been the strongest for M&M: up in 18 of 23 years, averaging +15.9%. Q1 (Jan–Mar) has been the softest (-3.2% on average). The current quarter (Q3) has historically closed higher 68% of the time.
📊 Average return by quarter
Calendar quarters, close-to-close. Hover for hit rates.
🗓️ Quarter-by-quarter returns
| Year | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| Avg | -3.2 | +15.9 | +7.9 | +5.9 |
| Up % | 41% | 78% | 68% | 64% |
| 2026 | -20.3 | +3.9 | +8.7 | · |
| 2025 | -11.3 | +19.4 | +7.7 | +8.2 |
| 2024 | +11.1 | +49.2 | +8.0 | -2.8 |
| 2023 | -7.2 | +25.5 | +6.9 | +11.3 |
| 2022 | -3.7 | +35.5 | +16.0 | -1.5 |
| 2021 | +10.4 | -2.2 | +3.3 | +4.2 |
| 2020 | -46.4 | +79.2 | +19.0 | +18.5 |
| 2019 | -18.4 | -0.1 | -16.5 | -2.9 |
| 2018 | +5.9 | +21.5 | -4.1 | -6.6 |
| 2017 | +8.6 | +4.8 | -6.1 | +19.8 |
| 2016 | -4.8 | +18.1 | -0.9 | -15.7 |
| 2015 | -3.8 | +8.0 | -0.5 | +0.7 |
| 2014 | +3.9 | +17.0 | +20.0 | -9.3 |
| 2013 | -7.6 | +12.7 | -13.5 | +14.1 |
| 2012 | +2.7 | +1.0 | +24.4 | +7.7 |
| 2011 | -10.0 | +0.2 | +16.5 | -15.3 |
| 2010 | +0.2 | +15.9 | +11.9 | +12.5 |
| 2009 | +39.8 | +80.2 | +29.5 | +22.4 |
| 2008 | -19.1 | -29.9 | +6.9 | -46.1 |
| 2007 | -13.3 | -7.3 | +4.6 | +14.6 |
| 2006 | +22.6 | +0.9 | +9.4 | +33.6 |
| 2005 | -8.9 | +14.9 | +35.4 | +35.5 |
| 2004 | · | -2.8 | -3.2 | +27.5 |
🏆 Top 25 seasonal picks — Q3 2026
| # | Stock | Record | Win % | Avg return | So far |
|---|---|---|---|---|---|
| 1 | LALPATHLAB Dr. Lal Path Labs Ltd. | 10/10 yrs up | 100% | +15.0% | +15.5% |
| 2 | TVSMOTOR TVS Motor Company Limited | 19/22 yrs up | 86% | +17.5% | +24.9% |
| 3 | BERGEPAINT Berger Paints (I) Limited | 19/22 yrs up | 86% | +15.6% | -4.0% |
| 4 | KAJARIACER Kajaria Ceramics Limited | 19/22 yrs up | 86% | +15.2% | +2.7% |
| 5 | TORNTPHARM Torrent Pharmaceuticals Limited | 19/22 yrs up | 86% | +11.8% | +7.3% |
| 6 | ASIANPAINT Asian Paints Limited | 19/22 yrs up | 86% | +10.2% | -2.5% |
| 7 | SUVEN Suven Life Sciences Limited | 18/21 yrs up | 86% | +78.8% | +36.3% |
| 8 | PAGEIND Page Industries Limited | 16/19 yrs up | 84% | +9.6% | -14.0% |
| 9 | ALKEM Alkem Laboratories Limited | 9/10 yrs up | 90% | +12.7% | -4.1% |
| 10 | ATUL Atul Limited | 18/22 yrs up | 82% | +20.3% | -0.7% |
| 11 | ESCORTS Escorts Kubota Limited | 18/22 yrs up | 82% | +19.3% | +2.4% |
| 12 | IGARASHI Igarashi Motors India Limited | 18/22 yrs up | 82% | +16.8% | -7.5% |
| 13 | APOLLOTYRE Apollo Tyres Limited | 18/22 yrs up | 82% | +14.0% | +1.8% |
| 14 | BLUESTARCO Blue Star Limited | 18/22 yrs up | 82% | +13.9% | -9.7% |
| 15 | GRASIM Grasim Industries Limited | 18/22 yrs up | 82% | +12.0% | +6.6% |
| 16 | PRICOLLTD Pricol Limited | 18/22 yrs up | 82% | +11.5% | +29.6% |
| 17 | BAJAJ-AUTO Bajaj Auto Limited | 18/22 yrs up | 82% | +11.5% | +23.5% |
| 18 | ARVIND Arvind Limited | 18/22 yrs up | 82% | +10.8% | -6.0% |
| 19 | SANOFI Sanofi India Limited | 18/22 yrs up | 82% | +5.8% | -7.9% |
| 20 | KANSAINER Kansai Nerolac Paints Limited | 17/21 yrs up | 81% | +13.7% | -4.8% |
| 21 | BANCOINDIA Banco Products (I) Limited | 15/19 yrs up | 79% | +21.4% | -6.5% |
| 22 | EMAMILTD Emami Limited | 15/19 yrs up | 79% | +11.5% | -9.0% |
| 23 | UNOMINDA UNO Minda Limited | 15/19 yrs up | 79% | +10.1% | +18.0% |
| 24 | CGPOWER CG Power and Industrial Solutions Limited | 17/22 yrs up | 77% | +52.7% | -6.5% |
| 25 | PCBL PCBL Chemical Limited | 17/22 yrs up | 77% | +29.1% | -0.6% |
“So far” = return in the current (incomplete) period. Full methodology and the
past-performance record of these lists: Seasonality hub →
❓ M&M seasonality — FAQ
How often does Mahindra & Mahindra Limited rise in September?
Historically M&M has closed September with a gain in 14 out of 22 years — a 64% hit rate — averaging +2.0% for the month (data since 2004).
Which is the best month to buy Mahindra & Mahindra Limited historically?
Based on 23 years of data, April has been M&M's strongest month: positive in 65% of years with an average return of +5.8%. Past seasonality does not guarantee future results.
Which is the weakest month for Mahindra & Mahindra Limited?
March has historically been the weakest month for M&M, with an average move of -1.1% and gains in just 10 of 23 years.
Which quarter is historically strongest for Mahindra & Mahindra Limited?
Q2 (Apr–Jun) — positive in 18 of 23 years with an average return of +15.9%.
Does seasonality guarantee future returns?
No. Seasonality is a historical tendency, not a prediction. It reflects how a stock happened to trade in past calendar periods and can break at any time. Use it as one research input alongside fundamentals and technicals, and consult a SEBI-registered adviser before investing.
Methodology: returns are close-to-close over calendar months and quarters, computed from adjusted daily prices since 2004. A period's return is only counted when the immediately preceding period also traded. Statistics cover completed periods; the current period is shown separately as “so far”. Seasonality is a historical tendency, not a prediction or investment advice. Consult a SEBI-registered adviser before investing.
