M&M shares down 1.5 pc on bourses after recall announcement

Shares of homegrown auto major Mahindra & Mahindra fell by 1.5 per cent today following reports that the company is recalling 2,300 units of different variants of its popular SUVs Scorpio and XUV500, and multi purpose vehicle Xylo.
M&M's scrip fell by 1.43 per cent to settle at Rs 1,246.55 on the BSE. In intra-day, it lost 1.78 per cent to Rs 1,242.05.
At the NSE, it was down 1.49 per cent to end at Rs 1,246.
Mahindra & Mahindra is recalling 2,300 units of different variants of its popular SUVs Scorpio and XUV500, and multi purpose vehicle Xylo to rectify a defective vacuum pump in engines manufactured in May this year.

The preventive inspection and replacement, if needed, of the vacuum pump would be free of cost for customers, who would be individually contacted by the company, Mahindra & Mahindra had yesterday said in a statement.
"The inspection is limited to approximately 2,300 vehicles of Scorpio (Vlx/Sle/Lx), XUV500 W4/w6/W8 and Xylo H9/H8/H4 variants," the company had said.