Mahindra & Mahindra today rose as much as 2.5 per cent in the early trade on the BSE, a day after the auto major said it will raise prices of all its products up to Rs 8,000 effective October 1.
Buoyed by the announcement, shares of the company witnessed a jump of 2.51 per cent to touch an early high of Rs 711.60 per piece on the Bombay Stock Exchange.
The scrip was among the top performers on the 30-share benchmark and was the major contributor in the overall Sensex gain which was trading 20,127.74.
Similarly on the National Stock Exchange, Mahindra & Mahindra shares gained up to 2.5 per cent to Rs 711.90 per stock in the morning session.
Yesterday, the company had announced the price hike of all its products up to Rs 8,000 with effect from October 1 due to higher raw material costs and implementation of new emission norms.
Shares of the other major auto companies, however, were trading mixed with the two-wheeler major Hero Honda up by 0.33 per cent while the country's largest car maker Maruti Suzuki was trading with a loss of 0.03 per cent.
Shares of Tata Motors, which according to sources, is also planning to hike prices from next month, were down by 0.42 per cent in the early session on BSE.
