Mahindra & Mahindra (M&M) shares fell 5% today to ₹2,692.75 on the BSE in early Monday trading, experiencing heavy volumes.
At 10:06 AM, M&M was the top loser on both the BSE Sensex and Nifty 50 indices, with a 4.6% decline compared to a 0.73% dip in the benchmarks. This marks the sixth consecutive day of losses, with M&M down 13% over this period. The stock has fallen 15% from its peak of ₹3,276.30 on February 10, 2025. However, over the past year, M&M has outperformed the market, rising 52% versus the BSE Sensex’s 3.8% gain.
Mahindra Lifespace Developers Raises Funds
On February 13, Mahindra Lifespace Developers Limited (MLDL), a subsidiary of M&M, announced a ₹1,500 crore rights issue to raise funds for reducing debt and supporting future growth. M&M holds a 51.15% stake in MLDL. MLDL shares hit a 52-week low of ₹345.95, falling 49% from their 52-week high of ₹679.15 in April 2024. MLDL’s real estate footprint spans 39.44 million sq. ft. across 7 Indian cities, and the company is developing over 5,000 acres in industrial and residential clusters.
Electric Vehicle Launches and Strong Demand
In a separate announcement on February 14, M&M reported record bookings for its new electric SUVs, the XEV 9e and BE 6, which together garnered 30,179 bookings on the first day, totalling ₹8,472 crore in booking value (ex-showroom price). The XEV 9e accounted for 56% of the bookings and the BE 6 for 44%, with 73% of customers opting for the premium variant. M&M’s electric SUVs, unveiled in November 2024, have attracted significant attention, signalling rising demand for premium EVs in India. Deliveries are expected to begin in mid-March 2025, and M&M is planning to produce about 5,000 EV units per month initially.
About Mahindra & Mahindra
Mahindra & Mahindra, an Indian automobile manufacturer based in Mumbai, Maharashtra, was founded in 1945 as Mahindra & Mohammed before being renamed Mahindra & Mahindra.
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