M&M shares hit new all-time high on XUV 3XO launch
The shares of M&M gained 5% to scale a fresh all-time high of ₹2,166, while the market capitalisation climbed to ₹2.68 lakh crore.
The shares of M&M gained 5% to scale a fresh all-time high of ₹2,166, while the market capitalisation climbed to ₹2.68 lakh crore.
The XUV400 customers will have access to more than 1,100 chargers on the Bluesense+App through the joint venture, which will enhance the convenience and reach of electric vehicle charging.
Shares of Mahindra & Mahindra fell 4% to ₹1,885 on the BSE.
Hybrid is not really the technology for the future that EV is, says Mahindra Group CEO Anish Shah
Mahindra expects its utility vehicle sales to grow faster than the industry.
Mahindra & Mahindra's revenue rises 16% to ₹25,642 crore.
The domestic wholesales of two-wheeler manufacturers including electric vehicles grew by 26.2% YoY to 14,95,183 units against 11,84,376 units in the same period last year.
Massive demand at the lower end of the market means the segment is key to government meeting its target of 30% electric car penetration.
India-Japan Fund will invest ₹400 crore at a valuation of up to ₹6,600 crore, resulting in IJF's ownership ranging between 6.06% and 8.25% stake in Mahindra Last Mile Mobility.
The IPO of SoftBank-backed FirstCry comprises a fresh issue of equity shares worth ₹1,816 crore and an offer for sale of up to 5.43 crore shares by existing shareholders.