This automobile giant to invest Rs 1,000 crore for the production of electric vehicles

In the last one-year shares of this company have surged more than 55 per cent

On February 9, 2023, Mahindra & Mahindra Limited informed in the exchange filing that, the company has signed an MOU with the Government of Telangana for its proposed expansion plans at its existing manufacturing facility at Zaheerabad Plant in Medak District.

The proposed expansion is towards setting up of manufacturing facility including development and production of electric 3 and 4 wheelers. The estimated investment for this proposed expansion is expected to be approximately Rs 1,000 crore to be made over 8 years by the company.

Mahindra & Mahindra Ltd. is a part of the Mahindra Group, which is engaged in the business of manufacturing and sales of automobile vehicles. Mahindra & Mahindra is one of the most diversified automobile companies in India with a presence in 2-wheelers, 3-wheelers, passenger and commercial vehicles and tractors.

Today, the stock opened at Rs 1386.95, with a high and low of Rs 1387.00 and Rs 1373.65. The stock is currently trading at Rs 1381.65, up by 0.66 per cent.  

In the last 6 months, the shares of the company have given more than 7 per cent returns and on a YTD basis, the stock has given about 8 per cent returns.

The stock has a 52-week high of Rs 1392.00 and a 52-week low of Rs 671.00. The company has a ROCE of 11.3 per cent and an ROE of 14.2 per cent with a market capitalisation of Rs 1,71,803 crore.