Monday , September 20 2021

M&M declines on recalling 29,878 pickup vehicles to replace faulty fluid pipe

Mahindra & Mahindra is currently trading at Rs. 769.45, down by 16.95 points or 2.16% from its previous closing of Rs. 786.40 on the BSE.

The scrip opened at Rs. 788.00 and has touched a high and low of Rs. 790.00 and Rs. 768.05 respectively. So far 113737 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 952.15 on 08-Feb-2021 and a 52 week low of Rs. 566.00 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 790.00 and Rs. 755.00 respectively. The current market cap of the company is Rs. 96720.38 crore.

The promoters holding in the company stood at 19.46%, while Institutions and Non-Institutions held 66.24% and 14.30% respectively.

Mahindra & Mahindra (M&M) is recalling 29,878 units of its pick up vehicles to replace faulty fluid pipe amid suspicion of improper assembly. The recall is limited to a batch of 29,878 vehicles and is keeping in line with the company’s customer-centric approach. A proactive inspection and replacement of a fluid pipe in some of the pickup vehicles manufactured between January 2020 and February 2021 for suspicion of improper assembly.

The inspection and subsequent rectification will be carried out free of cost for all customers, who will be individually contacted by the company. In an endeavour to ensure a hassle-free experience for its customers, the company is proactively carrying out this activity,

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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