Shares of Mahindra & Mahindra (M&M) fell nearly 3% in early trade on Friday, slipping to ₹3,204.10 on the NSE, compared to the previous close of ₹3,295.30. The stock witnessed heavy volumes with over 2.3 million shares traded, reflecting increased selling pressure.
The decline likely comes amid profit-booking by investors after a sharp rally in auto sector stocks through August. With M&M recently hitting the upper end of its 52-week range of ₹2,425 to ₹3,432, traders appear to be booking gains, leading to the short-term pullback.
Market participants also pointed out that large-cap auto names have seen heightened volatility this week as investors rebalanced portfolios ahead of the festive season, contributing to the dip. Despite today’s correction, M&M remains among the top performers in the auto pack this year, supported by its strong SUV sales and expanding market share.
On the other hand, Mahindra & Mahindra is gearing up to introduce a facelifted version of its popular D-segment SUV, the XUV700, which has been a strong performer since its debut in 2021. The SUV has now been spotted testing once again, offering a closer look at its updated design.
The heavily camouflaged test mule hints at a redesigned grille, while the open layout suggests that this particular version is an ICE (internal combustion engine) model. The headlamp cluster also appears to have been reworked, with a more refined setup compared to the current offering. The C-shaped DRLs seem to carry a new design, though details remain partially hidden under camouflage.
Other visible changes include front parking sensors, a bonnet similar to the existing version, and a side profile that retains its muscular look with the addition of new alloy wheels. The facelift will also bring in flush pop-out door handles and updated side body cladding for a fresher appearance.
The XUV700 facelift remains one of the most anticipated launches in Mahindra’s lineup, with consumers eagerly waiting for its official debut.
