Mahindra & Mahindra rises over 3 per cent post announcing price increase of vehicles

Mahindra & Mahindra Ltd (M&M) announced on Tuesday after the market hours that the company is planning to increase the price of its range of passenger & commercial vehicles across models with effect from January 1, 2021. The company has done this as a result of an increase in commodity prices and other input costs.

Reacting to this, the stock of M&M today rose by 3.55 per cent and made an intraday high of Rs 743.75 per share.

The company reported a total income of Rs 11,590 crore for Q2FY21, a decrease of 6 per cent, as against the total income of Rs 10,935 crore for Q2FY20.

The stock of M&M has recovered by 203.08 per cent from its sharp decline of March 2020. According to BSE data, the stock traded at a price-to-book ratio of 2.59.

It has a 52-week high and a 52-week low of Rs 764.10 per share and Rs 245.80 per share, respectively.

At 12.33 pm today, the share of M&M was trading at Rs 733.70 per share on BSE, up by 2.15 per cent.