M&M Share Price in Focus on Feb 24 After Sharp Drop on Friday

Mahindra & Mahindra Ltd has been in focus on Monday. On February 24, 2025, M&M share price opened at ₹2,669.00, almost the same as its previous close of ₹2,669.35. At 10:36 AM, the share price of Mahindra & Mahindra was trading at ₹2,695.25, up by 0.97% on the NSE. Notably, the stock price touched its 52-week high recently on February 10, 2025, at ₹3,270.95.

M&M Share Price Performance

On Friday, February 21, M&M shares tumbled as much as 6.5%, marking their steepest intraday fall in seven months. During the trading session, the stock dropped nearly 7%, reaching an intraday low of ₹2,653.35. The decline came after the company’s board approved a ₹4,500 crore investment in its subsidiaries through rights issues, as announced in an exchange filing on Thursday.

The Board of Directors approved fund-raising plans for its two listed subsidiaries:

• Mahindra & Mahindra Financial Services Ltd (MMFSL): A rights issue of equity shares to raise up to ₹3,000 crore.
• Mahindra Lifespace Developers Ltd (MLDL): A rights issue of equity shares to raise up to ₹1,500 crore.

M&M’s Board further approved the company’s participation in these rights issues. The company will subscribe to its full entitlement of equity shares in MMFSL and MLDL. Additionally, it may subscribe to extra shares, including any unsubscribed portion of the rights issues, subject to compliance with applicable laws. The Board also delegated authority to principal officers to finalise the investment upon receiving details of the rights issue terms from MMFSL and MLDL.

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