Mahindra & Mahindra (M&M) witnessed a 3% rise in its share price on November 27, reaching ₹3,070 after unveiling two electric SUVs under the 'Born Electric' series. These SUVs, the XEV 9e and BE 6e, are built on M&M's cutting-edge 'INGLO' platform, showcasing the company's shift towards electric mobility. Deliveries for these vehicles are slated to begin in the final quarter of the financial year, with prices starting at ₹18.90 lakh for the BE 6e and ₹21.90 lakh for the XEV 9e.
If you're tracking market movements and looking to capitalise on opportunities, this development is a timely reminder to buy shares online and stay ahead of market trends.
Morgan Stanley's 'overweight' call boosts sentiment
Adding to the momentum, international brokerage Morgan Stanley assigned an 'overweight' rating to M&M's stock, setting a target price of ₹3,336. This translates to a 12% upside potential from its last close of ₹2,985 on the NSE. Analysts highlighted that the pricing of the BE 6e and XEV 9e aligns well with premium offerings, making them competitive in the EV market. However, their performance in the market will be crucial, especially in meeting the upcoming CAFE 3 norms.
M&M's shares have already surged 74% since the beginning of the year, and many investors are eager to buy shares online to benefit from the company's promising trajectory in the EV segment.
Innovative features of the new electric SUVs
Both SUVs are packed with features designed to impress tech-savvy buyers. The XEV 9e boasts a connected LED DRL setup, ADAS, a 360-degree camera, and front parking sensors. On the other hand, the BE 6e offers a bold, aerodynamic design with 20-inch alloy wheels and a driver-focused dashboard. These attributes position M&M as a strong contender in the premium EV market.
With these innovations, M&M's 'Born Electric' series is set to redefine electric mobility, encouraging investors to take advantage of this growth phase and buy shares online to capture potential returns.
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