Dec 12, 2013, 06.01 PM IST
The company's wholly owned unit Renault India sells five models in India, including the sports utility vehicle Duster and compact car Pulse.
Tags Mahindra, Nissan, BMW, Hyundai, Maruti Suzuki India, Tata Motors, Micra, Duster
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Mahindra to increase vehicle prices by up to 2% from Jan
The company's wholly owned unit Renault India sells five models in India, including the sports utility vehicle Duster and compact car Pulse.
Like this story, share it with millions of investors on M3
Mahindra to increase vehicle prices by up to 2% from Jan
The company's wholly owned unit Renault India sells five models in India, including the sports utility vehicle Duster and compact car Pulse.
"This increase would be effective January 1, 2014. The price increase is primarily due to rising materials, input and higher freight costs," the company said in a statement. "We have been holding back prices for a while, but now it has become necessary to raise them to partly compensate the increase in materials, input and freight costs," said Pravin Shah, Chief Executive of Mahindra's Automotive Division.
The company sells a range of vehicles from three-wheelers to high-end sports utility vehicles. Yesterday, French auto major Renault announced it would increase vehicle prices in India from next month to offset higher costs . The company's wholly owned unit Renault India sells five models in India, including the sports utility vehicle Duster and compact car Pulse.
Earlier, Nissan said prices of its vehicles, including hatchback Micra and sports utility vehicle Terrano in India, would be hiked by up to 4 per cent from next month. Tata Motors, Maruti Suzuki India and Hyundai have also announced price increases from January, joining Mercedes, BMW, Audi and Honda.
M&M stock price
On December 12, 2013, Mahindra and Mahindra closed at Rs 942.35, down Rs 8.2, or 0.86 percent. The 52-week high of the share was Rs 1026.45 and the 52-week low was Rs 741.50.
The company's trailing 12-month (TTM) EPS was at Rs 59.31 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 15.89. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 3.96.
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