M&M gains on plan to launch high-end SUV SsangYong Rexton in India

M&M is currently trading at Rs. 873.30, up by 3.45 points or 0.40% from its previous closing of Rs. 869.85 on the BSE.

The scrip opened at Rs. 869.85 and has touched a high and low of Rs. 875.30 and Rs. 869.85 respectively. So far 3,191 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 875.90 on 03-Oct-2012 and a 52 week low of Rs. 621.75 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 875.90 and Rs. 850.90 respectively. The current market cap of the company is Rs. 53,618.00 crore.

The promoters holding in the company stood at 25.45% while Institutions and Non-Institutions held 47.55% and 21.26% respectively.

Mahindra & Mahindra (M&M), country’s leading sport utility vehicle (SUV) manufacturer, would be launching its highly anticipated high-end SUV SsangYong Rexton in India on October 17, 2012 in Mumbai. This would be followed by launches in the cities of New Delhi and Bangalore and a phase wise roll out in other markets.

The Rexton is the first product from Ssangyong’s product portfolio to be launched in India since Mahindra acquired the Korean company back in March 2011. The Rexton has carved out its own niche in 66 countries around the world, including markets like Korea, Europe and Russia.

This third generation Rexton, will create a strong connect with premium SUV buyers in India thanks to its sophisticated styling, luxurious interiors, superior handling and on and off-road performance. Indian buyers can also look forward to a high-performance diesel engine powering the Rexton. It will combine sophistication and refinement, luxurious passenger comfort, high quality performance and the ride and handling of a high-end SUV.