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M&M catches speed on offering discount, other benefits to govt employees on vehicle purchase

06 Nov 2020 Evaluate

Mahindra & Mahindra is currently trading at Rs. 616.40, up by 13.90 points or 2.31% from its previous closing of Rs. 602.50 on the BSE.

The scrip opened at Rs. 603.95 and has touched a high and low of Rs. 619.20 and Rs. 602.00 respectively. So far 239834 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 666.35 on 21-Sep-2020 and a 52 week low of Rs. 245.80 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 619.20 and Rs. 590.00 respectively. The current market cap of the company is Rs. 76518.50 crore.

The promoters holding in the company stood at 19.58%, while Institutions and Non-Institutions held 65.64% and 14.78% respectively.

Mahindra & Mahindra (M&M) has offered various benefits, including an additional cash discount of up to Rs 11,500, lower interest rates and easy EMIs, for government employees on its vehicle purchases. Under the 'Sarcar 2.0' programme, all government employees are eligible for additional cash discounts of up to Rs 11,500, zero processing and foreclosure fee, and lower interest rates starting from 7.25 per cent.

The festive season sale benefits also include the highest tenure of up to eight years with multiple finance partners and monthly EMIs starting as low as Rs 799 per lakh for personal utility vehicles. Some of these schemes are offered through various financial institutions, and customers will need to get in touch with the nearest dealer to avail of these offers. The company has also arranged contactless payment convenience along with instant EMI facilities, partnering with financial technology companies.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

Mahindra & Mahindra Share Price

3261.80 94.50 (2.98%)
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