M&M extends rally to hit a new high; stock up 63% from 52-week low levels

While the food prices continue to remain high, the company believes that a better compensation for farmers would create a positive sentiment and lift demand for tractors and agri-implements

Shares of Mahindra & Mahindra hit a new high of Rs 1,092.75, up 2 per cent on the BSE in Monday’s trade and outperformed the market on strong business outlook.

In the past one week, the stock rallied 12 per cent as compared to 3 per cent rise in the S&P BSE Sensex. With this, M&M has zoomed 63 per cent over three and a half months. Earlier, the stock had hit a 52-week low of Rs 671 on March 8, 2022.

M&M is a conglomerate with presence in auto, IT, financial services, logistics, hospitality and real estate