M&M share price hits record high as brokerages raise target price on growth strategy
₹3,006.45 apiece on the BSE.Auto major Mahindra & Mahindra (M&M), in its Investor Day presentation, announced its plans to launch a total of 23 new vehicles by 2030, including new SUVs. M&M's SUV market share has risen from 15% in FY21 to 18% in FY24.The company also plans to introduce seven Born Electric Vehicles (BEV) by the end of the decade.
It showcased three feature-rich BEV - E8, E9, BE.5 - which have high range, showing the focus on performance and aspirational value. Also Read: M&M outshines Tata Motors to become India's second-largest auto major; shares hit fresh 52-week highBrokerage firm Jefferies found these three new electric SUVs well-designed and believes they can provide a compelling proposition for customers.Jefferies sees M&M's auto volumes rising at 14% CAGR over FY24-27E, led by 18% CAGR for SUVs.
Read more on livemint.com
