Shares of Indian multinational automotive corporation Mahindra & Mahindra which holds a 1.09% weightage in the Nifty50 Index achieved its all-time high on Tuesday. During the day, the stock reached an all-time high of ₹1121.45 and is currently trading at ₹1113, up by 2.80%, IST: 11:40.
The shares of the company have given a multibagger return of 296% in the past 2 years. The stock has also given a return of 65% in the past 4 months, from the point of its 52-week low of ₹671.15 on 8th March 2022.
For the financial year 2022, the company reported consolidated revenue of ₹90,170 crores, an increase of 21.39% compared to the previous financial year. Consolidated
net profit was reported at ₹5,397 crores a huge increase of 122% compared to the previous financial year.
A major factor for the increase in the share price might be the decrease in commodity prices, especially steel and aluminium, which are the key cost components in the manufacture of vehicles. The decline in these prices are expected to increase the profit margins of the company.
Written By: Aaron Vas
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
