Shares of Mahindra & Mahindra jumped over 6%, most in nine weeks. The surge comes after the domestic major clocked over 1 lakh bookings for the all-new Scorpio-N within half an hour of its booking commencement on Saturday.
- The amount of booking translated to ex-showroom value of Rs 18,000 crore and the commencement of deliveries is scheduled for September 26. Over 20,000 units of Scorpio-N are planned for delivery by December 2022.
- Trading volume is more than five times the 30-day average. Of the 46 analysts tracking the company, 41 maintain ‘buy’, three suggest ‘hold’ and two recommend ‘sell’. The return potential of the stock is 6.9%.
Source: Exchange filing