New Delhi, Dec 16 (PTI) Shares of Mahindra & Mahindra (M&M) closed the day with nearly 2 per cent gain after the firm said it will hike prices of its entire range of passenger and commercial vehicles from next month to partially offset the impact of rise in input costs.

On Wednesday, the stock, which jumped 3.80 per cent to Rs 745.55 during the day on the BSE, later closed at Rs 731.85, up 1.89 per cent.

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On the NSE, it closed with 1.88 per cent gain at Rs 731.45 after jumping 3.94 per cent to Rs 746.25 during the day.

Effective January 1, the company will increase the prices of its range of passenger and commercial vehicles, across models, the Mumbai-based automaker said in a statement on Tuesday.

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This has been necessitated due to the increase in commodity prices and various other input costs, it added.

Details of price increase across different models will be communicated in due course, the automaker, which sells models like Thar and Scorpio, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)