Mahindra & Mahindra Shares Zoom Over 70% In 6 Months As Company Looks To Reinforce Its Position With Upcoming Launches

Mahindra & Mahindra Shares Zoom Over 70% In 6 Months As Company Looks To Reinforce Its Position With Upcoming Launches

Mahindra and Mahindra is one of the biggest names in the Indian automobile business. It not only competes with fellow Indian competitors, in the form of Tata, but it also takes on international players in what is deemed by many as a large market with huge potential.

Juviraj AnchilUpdated: Sunday, June 16, 2024, 10:45 AM IST
article-image

Mahindra Group, like a few Indian conglomerates, have become a household name in the country of 1.4 billion citizens. One of the marquee institutions that comes under the umbrella of the Mumbai-based company is the group's auto business.

M&M Shares Jump 70% In 6 Months

Mahindra and Mahindra is one of the biggest names in the Indian automobile business. It not only competes with fellow Indian competitors, in the form of Tata, but it also takes on international players in what is deemed by many as a large market with huge potential.

Mahindra & Mahindra has gained a massive 70.91 per cent or Rs 1,213.20, taking the cumulative value of each share price to Rs 2,924.00.

This comes at a time when, according to a report from the Economic Times, the company is looking to further its positioning in the auto business.

The company has as many as 23 new launches in the pipeline. And it will be releasing these cars in the span of the next 6 years, before 2030.

The company has as many as 23 new launches in the pipeline. And it will be releasing these cars in the span of the next 6 years, before 2030. |

New Launches On Horizon

The company has as many as 23 new launches in the pipeline. And it will be releasing these cars in the span of the next 6 years, before 2030.

In all, the company is planning to execute a capital expenditure of over Rs 27,000 crore. While maintaining its traditional stronghold of SUVs, the company, like many others, is also venturing into the EV race with equal vigour.

The company's performance is not just limited to the equity markets, as company performance on the balance sheets also appears to be in greener territories.

In a more recent development, the maker of the popular SUV Scorpio and tractors for agriculture raised its profile by becoming the second-most valuable auto company in the country, leaving behind another behemoth, Tata.

In a more recent development, the maker of the popular SUV Scorpio and tractors for agriculture raised its profile by becoming the second-most valuable auto company in the country, leaving behind another behemoth, Tata. |

Strong Performance In Q4

In the recently concluded fiscal festivity of Q4 results, the motor company saw its standalone net profits jump 32 per cent. M&M made a total of Rs 2,038 crore, compared to Rs 1,549 crore this time last year.

In a more recent development, the maker of the popular SUV Scorpio and tractors for agriculture raised its profile by becoming the second-most valuable auto company in the country, leaving behind another behemoth, Tata Motors. It currently trails the country's largest automaker, Maruti Suzuki, in market capitalisation.

Before the long weekend, the shares of the company ended the day's trade on Friday, June 14, 2.18 per cent or 62.30 points higher, closing at 2,924.00.

RECENT STORIES

Tier I Cities Dominate In Blue-Collar Gig Job Opportunities: Report

Tier I Cities Dominate In Blue-Collar Gig Job Opportunities: Report

Government Plans To Transfer MTNL Operations To BSNL Amid Financial Struggles, Avoiding Merger:...

Government Plans To Transfer MTNL Operations To BSNL Amid Financial Struggles, Avoiding Merger:...

Softbank Exits Paytm At Loss Of Around $150 Million; Check Details

Softbank Exits Paytm At Loss Of Around $150 Million; Check Details

Legacy in Motion: Ducati Panigale V2 Superquadro Final Edition

Legacy in Motion: Ducati Panigale V2 Superquadro Final Edition

Anant-Radhika Wedding: Meet Kokilaben Ambani, Reliance's Matriarch And Top Stakeholder; Here's...

Anant-Radhika Wedding: Meet Kokilaben Ambani, Reliance's Matriarch And Top Stakeholder; Here's...