Mahindra & Mahindra rallies 6%, nears record high on solid Q3 performance

The company said the automotive business continues to gain market share with SUV at 21.0% and LCV at 49.6%, and the farm market share has improved 80 bps to 41.8% despite a decline in the industry.

Shares of Mahindra & Mahindra (M&M) rallied 6 per cent to Rs 1,750 on the BSE in Thursday’s intra-day trade amid heavy volumes after the company said the group delivered ‘solid’ operating performance across all business verticals except Tech Mahindra. The stock of Mahindra Group automobile company was trading close to its record high of Rs 1,758 touched on December 29, 2023.

At 12:03 pm; M&M quoted 5.3 per cent higher at Rs 1,745.70, as compared to an umoved S&P BSE Sensex at 71,822. The average trading volumes at the counter nearly doubled. A combined 4.5 million equity shares of the