Wed Nov 27 05:28:37 UTC 2024: ## Mahindra & Mahindra Stock Soars After Electric SUV Launch

**Mumbai, India** – Shares of Mahindra & Mahindra (M&M) surged over 2.5 percent on Monday, reaching Rs 3,055, following the company’s announcement of two new electric SUVs, the XUV 9e and BE 6e. The launch, based on the company’s new ‘INGLO’ platform, marks a significant step in M&M’s electric vehicle (EV) strategy.

Deliveries are expected to begin in the last quarter of the fiscal year, with the BE 6e priced at Rs 18.90 lakh and the XUV 9e at Rs 21.90 lakh. Analysts noted that the pricing aligns with premium EV variants. While overall EV sales have lagged expectations, the success of these new models will be crucial for M&M’s performance and compliance with upcoming CAFE 3 emission norms.

International brokerage Morgan Stanley has issued an “overweight” rating for M&M stock, setting a target price of Rs 3,336, representing a potential 12 percent upside. The XUV 9e boasts features like a connected LED DRL setup, 360-degree camera, and ADAS, while the BE 6e features a sporty design with 20-inch alloy wheels.

M&M shares have already seen impressive growth this year, rallying 74 percent since January. However, the long-term success of these new EVs remains a key factor to watch for investors. This article contains information obtained from Moneycontrol.com. Always consult with a financial professional before making investment decisions.

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