Mahindra & Mahindra shares rise after launch of Mahindra Veero

Mahindra & Mahindra shares rose by as much as 0.8 per cent on Tuesday to hit an intraday high of Rs 2,778.85, following the launch of its new light commercial vehicle, the Mahindra Veero. The stock gained momentum after the company unveiled the Veero, starting at Rs 7.99 lakh, positioning it as strong player in the sub-3.5-tonne light commercial vehicle (LCV) segment.

The Mahindra Veero has been designed to optimise operational efficiency with a 1,600 kg payload capacity and 18.4 km per litre mileage for the diesel variant. The vehicle's introduction is expected to strengthen Mahindra's dominance in the light commercial vehicle market, offering features like driver-side airbags, reverse parking cameras, and a premium infotainment system, analysts said.

Veejay Nakra, President of Mahindra 's Automotive Division, highlighted that the Veero is built to maximise customer earnings while delivering superior performance and safety, further solidifying the company’s leadership in the segment.

As of 11:41 am, Mahindra & Mahindra shares traded 0.7 per cent to Rs 2,776, outperforming the Nifty which was trading on a flat note.