Mahindra & Mahindra hits new high, up 3% on hopes of strong domestic demand

Company says is seeing high interest for new launched Scorpio-N; In the last three months, the stock has outperformed the market, by gaining 38 per cent as against a 9 per cent decline on the Sensex.

Shares of Mahindra & Mahindra (M&M) rallied 3 per cent and hit a new high of Rs 1,058.60 on the BSE in Friday’s intra-day trade on hopes of strong demand outlook. The stock of the passenger cars & utility vehicles maker surpassed its previous high of Rs 1,057.75 touched on June 2, 2022.

In the past one month, M&M has outperformed the market, gaining 12 per cent, when compared with a 2.6 per cent decline in the S&P BSE Sensex. In the last three months, the stock has rallied 38 per cent, against 9 per cent decline in the