Stock to watch: M&M shares in focus after Thar Roxx sets record with 1.76 lakh bookings in just 60 minutes
Thar ROXX received 1.76 lakh bookings within the first hour of availability.
The booking period started at 11:00 AM, marking the highest first-day booking figures for any Mahindra product. Deliveries for the Thar ROXX will begin on Dussehra day, with the company promising to update customers on their tentative delivery schedules over the next three weeks.
The impressive response to the Thar ROXX indicates its strong appeal among consumers. Mahindra stated, «The unprecedented response reflects the broad appeal of Thar ROXX, captivating customers nationwide.» The SUV is designed to combine style with a robust driving experience, enhanced performance, and top-notch safety features. It aims to stand out in the crowded SUV market, where it competes with established models like the Hyundai Creta.
This massive response comes on the heels of Mahindra’s impressive performance in September, where the automaker posted a robust 24% year-on-year (YoY) growth in SUV sales, delivering over 51,000 units. Export figures were equally strong, with a 25% YoY increase, totaling 3,027 units.
On Thursday, M&M shares closed at Rs 3,129.2, down 1.2% on the BSE, while the benchmark Sensex fell 2.1%. Its shares have surged 84% in 2024 to date and 150% over the past two years, with the company currently holding a market capitalization of Rs 3,89,125 crore.
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