Mahindra & Mahindra recalls 2300 SUVs; stock slips in red

MUMBAI: Shares of Mahindra & Mahindra (M&M) were witnessing profit booking after the company recalled 2300 units of different variants of Scorpio, XUV 500 and Xylo vehicles.

The company discovered a faulty defective pump in all engines which were manufactured in May this year.

M&M says it will carry out a preventive check and replace the faulty part free of cost if required, and every customer will be indiviually contacted.

The exercise is in keeping with SIAM's voluntary code on vehicle recall, it added.

Earlier in July this year, Mahindra & Mahindra had recalled around 23,000 units of a select variant of its popular sports utility vehicle Scorpio to rectify faulty pressure regulating valves.

At 09:45 a.m.; the stock was at Rs 1,259.65, down 0.39 per cent, on the BSE. It touched a high of Rs 1,267.90 and a low of Rs 1,255.95 in trade today.