Mahindra announces price increase for its Personal & Commercial range of vehicles from January 8, 2021

Mahindra & Mahindra Ltd. (M&M), part of the USD 19.4 billion Mahindra Group, today announced that effective January 8, 2021, the prices of its range of Personal and Commercial vehicles will increase by around 1.9%, resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant. In the case of All New Thar, the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021. All fresh bookings for All New Thar, effective January 8, 2021, will have prices as applicable on the date of delivery.

According to Veejay Nakra, CEO - Automotive Division, M&M Ltd., "The price increase was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months. We have made all efforts to reduce our costs and deferred price increase for a significant duration, but due to the quantum of input cost increase, consequently we are taking this price increase effective January 8, 2021."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.743.2 as compared to the previous close of Rs. 736.4. The total number of shares traded during the day was 243396 in over 6974 trades.

The stock hit an intraday high of Rs. 755 and intraday low of 741. The net turnover during the day was Rs. 182176936.

Source : Equity Bulls

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