Mahindra & Mahindra’s stock price rose more than six percent on Monday, reaching an all-time high after the company reported a 31 percent increase in its total sales in July and its all-new Scorpio-N model received more than 1 lakh orders within 30 days. minutes from start of bookings.
On the BSE at around 1:48pm, Mahindra & Mahindra shares were trading 6.37 percent higher against Rs 1239.
Earlier, the scrip hit an all-time high of Rs 1247.60 in the intra-day, its all-time high.
During the month of July, Mahindra & Mahindra Ltd’s total sales increased 31 percent to 56,148 vehicles.
In the commercial vehicle segment, Mahindra sold 27854 vehicles in July 2022.
Exports for the month were 2798 vehicles. In the commercial vehicle segment, Mahindra sold 20946 vehicles in July 2022.
“We continue our strong performance with sales of 27854 SUVs in July, growing 34 percent, driven by strong demand for all of our brands, including XUV700, Thar, Bolero and XUV300,” said Veejay Nakra, President, Automotive Division, M&M Ltd, said in a statement.
“Our commercial vehicles also grew and exports increased by 32%. The supply chain situation remains dynamic and we are closely monitoring the situation,” said Mr. Nakra.
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