M&M declares price hike
Mahindra and Mahindra (M&M) announced a price hike of 0.5 per cent to 2.7 per cent across its range of products with effect from April 1, 2019.
The price hike will be levied on its personal and commercial vehicles. It will ultimately result in an increase of Rs. 5,000 to Rs. 73,000 across its models.
The increase in commodity prices was at a record high this year. Moreover, the regulatory requirements which come to effect from April, 2019 have escalated the costs incurred by auto companies. While M&M has certainly undertaken measures to keep costs in check, the price is still inevitable.
On Thursday, the shares of Mahindra & Mahindra (M&M) opened at Rs. 660.10 and hit a high and low of Rs. 663.30 and Rs. 653.60, respectively. The stock closed at Rs. 656.90, down 0.71 per cent.