M&M share rose nearly 4% today after the firm said it would raise price of passenger, commercial vehicles from January 1. Share of M&M gained up to 3.8% to Rs 745.55 against previous close of Rs 718.25 on BSE. The stock has gained 2.87% in the last 2 days.
The stock opened with a gain of 2.33% at Rs 735 today. The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.
It has gained 44.14% in one year and risen 38.07% since the beginning of this year.
In a month, the share has gained 16.23%.
At 1: 05 pm, the share was trading 2.12% higher at rs 733 on BSE. Market cap of the firm rose to Rs 91,181 crore.
The auto firm said it would hike prices of its entire range of passenger and commercial vehicles from next month in order to partially offset the impact of rise in input costs. Effective January 1, the company will increase the price of its range of passenger and commercial vehicles, across models, the Mumbai-based automaker said in a statement.
This has been necessitated due to the increase in commodity prices and various other input costs, it added.
Details of price increase across different models will be communicated in due course, the automaker, which sells models like Thar and Scorpio, said.
Meanwhile, Sensex hit record high of 46,592 and Nifty too logged a lifetime high of 13,666 in today's session. Yesterday, Sensex ended 9 points higher at 46,263 and Nifty gained 9 points to 13,567.