M&M trades marginally higher on lining up new products and investments
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Mahindra & Mahindra is currently trading at Rs. 1305.60, up by 4.75 points or 0.37% from its previous closing of Rs. 1300.85 on the BSE.
The scrip opened at Rs. 1314.90 and has touched a high and low of Rs. 1315.55 and Rs. 1302.70 respectively. So far 20263 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1365.90 on 09-Sep-2022 and a 52 week low of Rs. 671.00 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1365.90 and Rs. 1281.15 respectively. The current market cap of the company is Rs. 161720.70 crore.
The promoters holding in the company stood at 19.45%, while Institutions and Non-Institutions held 66.94% and 13.61% respectively.
Mahindra & Mahindra (M&M) is lining up new products and investments while firming up production plans as it remains very optimistic about gradual evolution of electric vehicle penetration in the country over the next few years.
Five years from now, the company expects about 20-30 per cent of its Sports Utility Vehicles (SUVs) to be electric. Betting big on green mobility, Mahindra has lined up five new electric SUVs with the first four expected to hit the market between December 2024 and 2026. The automaker plans to roll out the five electric SUV models under two brands - XUV and the all-new electric-only brand called ‘BE’.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
