M&M shares hit all-time high—Here's what is keeping the investors keen

M&M share price: Mumbai-based automobile manufacturer Mahindra and Mahindra shares on Friday, June 7 rose to life high on Dalal Street, a day after the firm informed the bourses about the approval of the merger of three of its subsidiaries - Mahindra Heavy Engines Ltd (MHEL), Mahindra Two Wheelers Ltd (MTWL) and Trringo.com Limited with the company. The auto stock rose as much as 3.5 per cent to its record high of Rs 2,794.95 on NSE in afternoon deals.

"Wherein we had intimated about receipt of Certified Copy of the Order of Hon’ble National Company Law Tribunal, Mumbai Bench (‘NCLT’) dated 7th May, 2024 approving the Scheme of Merger by Absorption of Mahindra Heavy Engines Limited (“Transferor Company 1”) and Mahindra Two Wheelers Limited (“Transferor Company 2”) and Trringo.com Limited (Transferor Company 3”) (“hereinafter referred to as “Transferor Companies”) with Mahindra and Mahindra Limited (“Transferee Company”) and their respective shareholders (“Scheme”) under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Act”)," the company's filing dated June 6 read. 

M&M Q4 results 2024: How did the auto firm fare in March quarter?

Mahindra & Mahindra posted a 4 per cent increase in consolidated profit after tax (PAT) to Rs 2,754 crore for the March quarter, driven by a strong performance of its automotive and farm sector segments.

M&M's revenue increased to Rs 35,452 crore in the fourth quarter, registering a growth of 9 per cent, compared to Rs 32,456 crore in the corresponding period a year ago.

M&M share price performance

Shares of the company have gained nearly 100 per cent in the last one year. (June 7, 2023), outperforming a 70 per cent rise in the Nifty Auto index and a 24 per cent rally in the benchmark index Nifty50. 

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