Mahindra & Mahindra hits record high after Volkswagen tieup

Shares of automaker Mahindra and Mahindra up as much as 3.12% to Rs 1298.70, their record high.

MAHM and Volkswagen AG, on Monday, announced expansion of their MEB alliance to accelerate the electrification of the Indian auto market.

Venture targets one million units, including integration of MEB components into five all-electric SUVs.


Nearly 855,434 shares traded, 0.2x times its 30-day moving average of about 4 million shares.

Thirty-seven of 42 brokerages rate the stock "buy" or higher, three "hold" and two "sell"; median PT is Rs 1,400, shows Refinitiv Eikon.

As of last close, MAHM stock up 62.26% YTD vs 1.45% gain in the benchmark Nifty Auto index.