Mahindra & Mahindra rose 1.14% to Rs 1,347.85 at 09:45 IST on BSE after the company announced the launch of new electric sedan eVerito.
The announcement was made after market hours yesterday, 2 June 2016.Meanwhile, the S&P BSE Sensex was up 154.26 points or 0.57% at 26,997.40
On BSE, so far 20,424 shares were traded in the counter as against average daily volume of 89,670 shares in the past one quarter. The stock had hit a high of Rs 1,351.35 and low of Rs 1,343 so far during the day. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016.
The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.
M&M said that the eVerito would be available in key cities like New Delhi, Mumbai, Bangalore, Pune, Kolkata, Chandigarh, Hyderabad, Jaipur and Nagpur with immediate effect. It will be priced at Rs 9.50 lakh (ex showroom Delhi, for D2 variant, post state subsidy and FAME incentive). The direct drive single speed transmission eVerito can be charged at home. It can be charged in 1 hour and 45 minutes through fast charging technology. On a full charge, the Mahindra eVerito can travel for up to 110 kms (based on vehicle loading) and can achieve a top speed of 86 kmph. Its running cost is Rs 1.15/km assuming cost of electricity at Rs 7 per unit. The eVerito also features Boost Mode and Telematics which include real time and immediate assistance wherever the vehicle may be.
Mahindra & Mahindra (M&M)'s total auto sales rose 11% to 40,656 units in May 2016 over May 2015. Separately, M&M said that total sales of tractors rose 20% to 23,018 units in May 2016 over May 2015. The sales figures were announced during market hours on 1 June 2016.
Also Read
M&M's net profit rose 6% to Rs 583.73 crore on 14.8% growth in net sales to Rs 10666.43 crore in Q4 March 2016 over Q4 March 2015.
Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.
Powered by Capital Market - Live News