The Mahindra Group has secured ₹104 crore from the Ministry of Heavy Industries as part of its incentive claims under the Production Linked Incentive (PLI) scheme for the auto sector. The incentive was granted for the sale of electric three-wheeler (e3w) cargo and passenger vehicles, according to CNBC-TV18 reports.
Shares of Mahindra and Mahindra Ltd. are trading down by 1.75%, currently at ₹2,928.35, compared to the previous close of ₹2,980.60. The stock has been fluctuating in the range of ₹2,903.10 to ₹2,970.35 during today’s session. The company has a market capitalization of ₹3.50 trillion with a P/E ratio of 27.56 and a dividend yield of 0.72%.
The PLI scheme, which aims to boost domestic manufacturing capabilities and promote EV adoption, has provided a positive push to the company’s efforts in the electric vehicle segment.
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