Mahindra & Mahindra shares surged more than 6% to hit a new 52-week high on Thursday, marking their sharpest intraday rise since February 2021. The rally came after the GST Council, in its 56th meeting, announced a major tax cut for the automobile sector.
The Council has slashed the Goods and Services Tax (GST) from 28% to 18% on key vehicle categories, a move that is expected to make cars, SUVs, and two-wheelers more affordable for buyers. The new rates will come into effect from September 22, 2025.
The decision is being seen as a “historic Diwali gift” for consumers, especially ahead of the festive season when auto sales typically pick up.
Mahindra & Mahindra shares witnessed a sharp rally in today’s session, hitting an all-time high of ₹3,550, marking a significant surge from the previous close of ₹3,286. The stock opened strong at ₹3,527 and touched a day’s low of ₹3,474 before climbing to its record high. With this move, the stock also surpassed its 52-week high of ₹3,550, while the 52-week low stands at ₹2,425.
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