Latest News | BIZ-STOCKS-MAHINDRA  M&M Shares Gain 3.5 Pc as Co Hikes Prices of Personal, Commercial Vehicles

New Delhi, Jan 8 (PTI) Shares of Mahindra & Mahindra (M&M) on Friday gained 3.5 per cent after the company announced hike in prices of its various personal and commercial vehicles.

The stock closed at Rs 770.50, a gain of 3.51 per cent on BSE. During the day, it jumped 3.78 per cent to Rs 772.60 -- its 52 week high.

On NSE, it gained 3.50 per cent to settle at Rs 770.50.

M&M, part of the USD 19.4 billion Mahindra Group, will raise the prices of range of personal and commercial vehicles by Rs 4,500 - Rs 40,000, depending on the model and variant, the Mumbai-based automaker said in a regulatory filing.

M&M said in the case of 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 the new Thar, effective January 8, 2021, will have prices as applicable on the date of delivery, the company added.

Veejay Nakra, CEO Automotive Division, M&M said the price increase was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months.

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