Mahindra & Mahindra (M&M) shares rose by 2% to ₹ 2,784 on Monday following the company's announcement of its new light commercial vehicle (LCV), the Mahindra Veero. The positive market response reflects investor optimism about Veero’s potential to strengthen M&M’s position in the competitive commercial vehicle market.
The Mahindra Veero, designed to enhance urban transportation, boasts impressive specifications, including a best-in-class payload capacity of 1,600 kg and fuel efficiency of 18.4 km/l for the diesel variant. The new LCV also features modern safety enhancements and advanced technology, catering to the growing demand for efficient and reliable commercial vehicles.
Veejay Nakra, President of Mahindra's Automotive Division, expressed confidence in Veero’s ability to elevate the company’s standing in the sub-3.5-ton LCV segment. Nakra highlighted the vehicle’s key attributes, stating, “The Mahindra Veero provides top-tier payload, excellent mileage, and great manoeuvrability, built to enhance customer earnings.” The Veero is available in both diesel and CNG variants, with an electric version expected in the near future. This new model is anticipated to redefine the segment with its segment-first features, including premium cabin comfort and advanced safety systems.
The Veero launch follows another major announcement from M&M: the introduction of the Thar Roxx, a five-door variant of the popular off-roader. The Thar Roxx is expected to boost M&M’s sales significantly, with the company targeting monthly sales of 15,000-18,000 units. The starting price for the Thar Roxx is ₹ 12.99 lakh for the petrol variant and Rs 13.99 lakh for the diesel version. Bookings for the Thar Roxx will begin on October 3, with deliveries slated to start around Dussehra on October 12.
At approximately 1 pm, M&M shares were trading at ₹ 2,775, reflecting a 1.3% increase from the previous close on the NSE. The company’s share price has surged nearly 60% since the beginning of the year, showcasing strong investor confidence. For those looking to invest in stocks, Mahindra & Mahindra presents a compelling opportunity driven by its innovative product launches and robust market performance.
The launch of the Mahindra Veero underscores the company's commitment to enhancing its commercial vehicle offerings and maximising profitability for its customers. For investors interested in investing in stocks, M&M’s strong performance and promising new models make it an attractive choice in the current market.
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