Mahindra & Mahindra – M&M share prices increased after the announcement of Electrical Sedan model launch announcement.
The Indian automobile Manufacturer M&M has announced the launch of its latest upcoming model cars. The electrical Sedan model might rock the show on the roads. The expectations had a direct impact on the share values of the company. Yesterday, i.e., on Jun 2nd the company announced the introduction of the latest model car and today immediately on the opening of the share market on the Bombay Stock Exchange (BSE), the values of the shares for the Mahindra company fetched the increment.
Compared to the last year sales, the company has noticed an 11% growth.
The face value of the company’s share is Rs.5 each and the total equity share capital is Rs.310.55 crores. The company has gained 6% net profits announced on June 1st, 2016. A 14.80% growth in net sales which amounts to Rs. 10,666.43 Crores.
Coming to the details of the newly announced vehicle’s features, specifications, and price details –
- The model is named as eVerito.
- It would be initially available in major cities like New Delhi, Mumbai, Bangalore, Pune, Kolkata, Chandigarh, Hyderabad, Jaipur and Nagpur with immediate effect.
- An expected price of Rs 9.50 lakh (ex-showroom Delhi).
- The vehicle comes with the model as D2 variant.
- Direct drive single speed transmission engine.
- eVerito can be charged at home.
- 1 hour and 45 minutes charge the vehicle fully through fast charging technology.
- On a full charge, the eVerito can travel for up to 110 km (based on vehicle loading) with a top speed of 86 kmph.
- An estimated running cost is Rs 1.15/km assuming the cost of electricity at Rs 7 per unit.
- The eVerito also features Boost Mode and Telematics which include real time and immediate assistance.
The M&M group enjoys a leadership position in tractors, utility vehicles, commercial vehicles and two-wheeler industries.
Mahindra also enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, information technology, financial services and vacation ownership.