Mahindra shares jump 4% after announcement of vehicle price hike from January
Shares of Mahindra & Mahindra (M&M) gained nearly 4 per cent in early trade on Wednesday after the firm said it will hike prices of its entire range of passenger and commercial vehicles from next month to partially offset the impact of rise in input costs.
The stock jumped 3.80 per cent to ₹745.55 on the BSE.
At the NSE, it gained 3.94 per cent to ₹746.25.
Effective January 1, the company will increase the prices of its range of passenger and commercial vehicles, across models, the Mumbai-based automaker said in a statement on Tuesday.
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This has been necessitated due to the increase in commodity prices and various other input costs, it added.
Details of price increase across different models will be communicated in due course, the automaker, which sells models like Thar and Scorpio, said.