new Delhi. Automobile major Mahindra & Mahindra has decided to increase the prices of its personal and commercial vehicles by around 1.9 per cent from Friday. After which the company’s vehicles have increased to 40 thousand rupees. Since this decision, the company’s shares have been increasing by 3%.
Mahindra’s vehicles have become so expensive
Mahindra & Mahindra, one of the country’s largest automobile companies, has increased the price of its personal and commercial vehicles after a breakup with Ford. The price of cars has been increased by 1.9 percent. Due to this, the price of vehicles has increased by Rs 4,500-40,000 depending on the model and variant. The increased prices will be effective from Friday itself.
So had to increase the price
In the case of ‘All New Thar’, the company said, the price increase will also apply to all bookings made between 1 December 2020 and 7 January 2021. According to VJ Nakra, CEO of M&M, the automotive division, there has been an unprecedented rise in commodity prices over the last several months, which necessitated a price increase of vehicles. We have made all efforts to reduce our costs for a period, but we are implementing this price increase from 8 January 2021 due to increase in input costs.
Share reached 52-week high
After the decision to increase the price of vehicles, Mahindra & Mahindra shares are seeing an increase in the price. At 1.15 pm, the company’s stock is trading at Rs 766.10 with an increase of 2.92 per cent i.e. Rs 21.70. While the shares of the company opened at Rs 750 today. The day hit a low of Rs 744.95. At the same time, the company’s stock reached a height of 52 weeks at Rs 769.60. Let us tell you that the company’s stock closed at Rs 744.40 on Thursday.
More than 95 thousand crores earned before cars are sold
With the increase in the price of cars, the company’s shares saw a boom. Due to which the market cap of the company increased by more than 3100 crores. While the company’s stock reached a 52-week high of Rs 769.60, the market cap had come down to Rs 95613.91 crore. Whereas yesterday the market cap of the company stood at Rs 92489.02 crore. That is, since yesterday, the company has raised Rs 3125 crore from the stock market.