Mah & Mah up 3% on launch of Quanto

Company hopes to gain market share on account of competitive pricing

Shares of auto major Mahindra & Mahindra were up over 3% after the company late Thursday announced the launch of its new utility vehicle Quanto at competitive pricing.

The seven-seater vehicle which is slightly smaller than its Xylo is fitted with a 1.5-litre three-cylinder turbo diesel engine and gives an average of 17 kms to the litre, reports suggest. The 55-litre fuel tank is also suited for long journeys.

The company has competitively priced the vehicle between Rs 5.82 lakh to Rs 7.36 lakh (ex-showroom Thane).

Over 900,000 shares were traded on both the stock exchanges so far.