Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, today announced that it plans to increase prices of its passenger and commercial vehicles by up to 3%. This will be effective 1st January 2018.
Commenting on the price hike Rajan Wadhera, President - Automotive Sector, Mahindra & Mahindra Ltd. said, "We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase."
Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.1431.7 as compared to the previous close of Rs. 1412.55. The total number of shares traded during the day was 81793 in over 1960 trades.
The stock hit an intraday high of Rs. 1434.9 and intraday low of 1414.25. The net turnover during the day was Rs. 116795073.