M&M gains on introducing subscription based service for retail buyers

Mahindra & Mahindra (M&M) is currently trading at Rs. 544.60, up by 2.80 points or 0.52% from its previous closing of Rs. 541.80 on the BSE.

The scrip opened at Rs. 542.70 and has touched a high and low of Rs. 548.00 and Rs. 542.70 respectively. So far 17862 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 976.50 on 21-Sep-2018 and a 52 week low of Rs. 502.85 on 14-Aug-2019.

Last one week high and low of the scrip stood at Rs. 552.00 and Rs. 519.00 respectively. The current market cap of the company is Rs. 67716.70 crore.

The promoters holding in the company stood at 19.87%, while Institutions and Non-Institutions held 58.78% and 21.36% respectively.

Mahindra & Mahindra (M&M) has introduced an innovative subscription-based initiative, in partnership with Revv, for retail customers. This unique, flexible ownership experience for customers of Mahindra’s personal range of vehicles is an all new way of using a brand new vehicle, without actually having to buy or own one.

With this launch, the company has made the ownership experience of its vehicles more flexible, affordable and convenient. The offer begins at an extremely attractive subscription price starting from Rs 19,720 per month, inclusive of insurance and routine maintenance charges.

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.

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