Mahindra & Mahindra Share Crashed Today: Heavy selling has been seen in Mahindra & Mahindra shares today. The company’s shares fell more than 7 percent on Wednesday. Let us tell you, at the time of market closing, the price of the company’s shares closed at the level of Rs 2732.10 with a decline of 6.62 percent in BSE.
This is the reason behind the decline in Mahindra shares
The company had said in the information given on Tuesday that the prices of different variants of XUV700 will be reduced by up to Rs 2 lakh. The company has announced this cut ahead of the third anniversary of the XUV700. Let us tell you, this announcement made by Mahindra will be effective from July 10. Through this offer the company will try to attract more customers.
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The AX7 range of Mahindra XUV700 will now start at Rs 19.49 lakh. Let us tell you, prices have also been cut by Tata Motors. The company has announced price cuts for Harrier and Safari. The new prices of Tata Motors will be effective from July 31.
There is a race to sell the company’s shares
Shares of Mahindra & Mahindra opened at Rs 2930.05 on BSE on Wednesday. After this, the shares of the company could not reach this level twice in a day. The company’s shares fell by 7.7 percent today and reached the level of Rs 2697.80. This is the biggest fall in the company’s shares in a single day in the last 28 months. Earlier, a decline of 8.6 percent in the company’s shares was seen on February 14, 2022. At the same time, on June 4, 2024, the day when the results of Lok Sabha elections were coming, this stock had fallen by 7.1 percent.
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The overall performance of this company in the stock market has been good. During the last 8 months, positional investors have gained 92 percent. So far this year, the company’s shares have seen a rise of 70 percent. Whereas during the same period, a rise of 37 percent has been recorded in BSE Auto Index and a rise of 10 percent in BSE Sensex.
