M&M stock gains after announcing price rise by 1.9%

Indian multinational vehicle manufacturing corporation, Mahindra & Mahindra announced price increases for its personal and commercial range of vehicles from January 8, 2021. Reacting to the news, the share jumped over one per cent on BSE on Friday.
The company will increase prices by around 1.9 per cent resulting in an increase of Rs 4,500 to Rs 40,000 depending on the model and variant and will be effective from January 8, 2021. The price increase was mainly due to an unprecedented increase in commodity prices and various other input costs.

Mahindra & Mahindra is conducting business in various fields which includes automobile manufacturing with a leadership position in utility vehicles, information technology, financial services and vacation ownership in the country. It is also the world’s largest tractor company by volume. The company commands 39.3 per cent market share in the tractor segment, 47.5 per cent in light commercial vehicles segment and 5.1 per cent in passenger vehicles segment.

At around 12:15 pm, the share of Mahindra & Mahindra Ltd is trading at Rs 766.10, up by 2.92 per cent or 21.70 on BSE. The share recorded an intraday high of Rs 760.2 and an intraday low of Rs 744.95.

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