Multibagger Stock: Mahindra & Mahindra soared over 160% in 2 years, advanced 490% in 4 years

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Also Read: Stock to buy: Anand Rathi recommends Olectra Greentech as its stock pick of the monthAs a result, companies in the passenger vehicle (PV) segment have demonstrated strong performance, reporting impressive volume growth. This has subsequently driven increased demand for these companies' stocks, leading to a significant rise in their market value.Notably, Mahindra & Mahindra (M&M), the automotive and farm equipment flagship of the Mahindra Group, was one of the stellar performers in recent years.

The company's shares, which began their upward journey in April, have continued to maintain the momentum to date, rewarding shareholders handsomely.Over the past year, the shares have surged nearly 99%. In the last two years, they have gained 167%, and over the past four years, they have gained 490%, appreciating from ₹436 apiece to the current price of ₹2,569 apiece.Also Read: Eicher Motors: Up 50% from its 52-week low, is it the right time to buy the stock?Mahindra & Mahindra is one of the most diversified automobile companies in India, with a presence across 2-wheelers, 3-wheelers, passenger vehicles (PVs), commercial vehicles (CVs), tractors, and earthmovers.

It also has a significant presence in financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading and processing, IT businesses, agriculture, aerospace, consulting services, defence, energy, and industrial equipment through its subsidiaries and group companies.In FY24, the company experienced significant growth in its SUV revenue market share, climbing by 130 basis points year-on-year to reach 20.4%. This remarkable achievement was fueled by the company's best-ever sales performance, with a total of 459,877 units (SUVs)