Mahindra and Mahindra (Mahindra) has ascended to the position of India’s second most valuable automobile company, following a significant rise in its share value during today’s market trading session. Tata Motors previously held this distinction.
Maruti Suzuki India maintains the top spot with a market capitalization of Rs. 4.04 lakh crore. Mahindra and Mahindra follows closely with Rs. 3.64 lakh crore. Notably, Mahindra’s shares have been the best performers in the Nifty 50 index for 2024, soaring nearly 65 percent. This impressive surge has boosted the company’s market value by nearly Rs. 2 lakh crore over the past year.
Looking ahead, Mahindra is planning substantial business expansions. In a recent investor meeting, the company announced plans to invest Rs. 27,000 crores between 2025-27. It aims to ramp up its EV and SUV production capacity to 72,000 units per month by March 2026. By 2030, Mahindra plans to introduce six new products, including both diesel and gasoline-powered SUVs.
By the close of the market, Mahindra’s shares had risen by 2.18 percent, settling at Rs. 2,924.00.
