Mahindra stock surges over 4%; top gainer on Sensex

Mahindra & Mahindra shares today surged over 4 per cent after the company announced the launch of its new car 'NuvoSport'.
The stock was the biggest gainer among the 30 blue-chips on the BSE benchmark, Sensex.
Mahindra stock gained 4.29 per cent to end the day at Rs 1245.75. During the day, the scrip soared 4.5 per cent to Rs 1248.40.
On NSE, the shares jumped 3.96 per cent to settle at Rs 1,242.50.
On the volume front, 1.55 lakh shares changed hands on BSE, while over 14 lakh shares traded on NSE.
Mahindra today launched NuvoSport at price starting Rs 7.35 lakhs (ex-showroom Thane), to be available across Mahindra dealership pan-India with immediate effect, the company said in a BSE filing.

Meanwhile, the company had reported a 17 per cent rise in total sales to 52,718 units in March as against 45,124 units in the same month last year.
In domestic market, sales were up 19 per cent at 48,967 units last month compared with 41,105 units in March 2015, M&M had said in a regulatory filing on April 1.