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M&M Share Price: After booking 1 lakh new Scorpio in 30 minutes, M&M’s stock rises to a record high

M&M Share Price: The stock of the legendary automobile company Mahindra & Mahindra is witnessing tremendous buying in Monday’s trading session, due to which the stock has reached a lifetime high today. The share of M&M has climbed by Rs 84, that is, with a jump of 7 per cent, it has reached Rs 1248. But the shares of Mahindra & Mahindra (M&M Share Price) The reason for the boom is the new version of its SUP Scorpio which has got tremendous response.

1 lakh new scorpio book in 30 minutes
The company said that within 30 minutes of opening of bookings for Mahindra & Mahindra’s SUP Scorpio-N at 11 am on Saturday, July 30, 2022, 1 lakh Scorpio vehicles were booked. The company said that within a minute of the start of booking, 25,000 new Scorpio vehicles of all variants of the same mall were booked.

Booked vehicles value at Rs 18,000 crore
According to Mahindra & Mahindra, if the total value of the new Scorpio that has been booked, then it becomes $ 2.3 billion i.e. Rs 18,000 crore. This is a new record for booking any vehicle in the country. The company said that the delivery of the new Scorpio-N will start on 26 September 2022 and by December 2022, the company has set a target of delivering 20,000 new Scorpios. At the end of August, the company will provide its customers with information about the date of delivery.

Brokerage house is bullish
On this achievement of Mahindra & Mahindra, the brokerage house is very bullish about the stock and is advising investors to buy the stock. Axis Capital has a buy call on the share with a target of Rs 1400. Prabhudas Liladhar has also set a target of going up to Rs 1380 for the share.

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