Shares of automobile companies were leading the charge on the bourses on Tuesday, with Mahindra & Mahindra (M&M) rising as much as 5.15 per cent on the BSE during intraday trade.
The stock hit a record high of 2,169.25 apiece on Tuesday, and was the top gainer on the BSE and National Stock Exchange (NSE). This came after the company launched a compact sports utility vehicle (SUV) XUV 3X0 at a competitive starting price of ₹7.49 lakh.
With 3XO's launch, M&M aims to be among the top two players in the compact SUV segment in around three years.
Meanwhile, analysts see the development as M&M's attempt to take on Tata Motors' Nexon, Hyundai Venue and Maruti Suzuki Brezza, in the sub-four metre segment.
This story is from the May 01, 2024 edition of Business Standard.
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This story is from the May 01, 2024 edition of Business Standard.
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