Mahindra & Mahindra share price hits 52-week high to become top Nifty 50 gainer. Here's why

Mahindra & Mahindra share price: The company's shares rallied almost 5% to ₹2,158 on the NSE.

Mahindra & Mahindra share price: The share price of Mahindra and Mahindra touched a 52-week high today (April 30) after the carmaker unveiled its compact sports utility vehicle (SUV) XUV 3XO. The company's shares rallied almost 5% to ₹2,158 on the NSE. With this, Mahindra & Mahindra became the top Nifty 50 gainer today as the stock outperformed the sectoral index Nifty Auto which traded 2% higher.

Mahindra & Mahindra share price: Mahindra's XUV 3XO bookings will open online and simultaneously at Mahindra dealerships from May 15.

Mahindra & Mahindra XUV 3XO launched

Mahindra unveiled the XUV 3XO which is a facelift of the 2024 XUV300, with prices starting from ₹7.49 lakh. The new model will be available in five trims and has a revamped design, a new cabin as well as an updated automatic gearbox. Bookings for XUV 3XO will open online and at Mahindra dealerships from May 15, the company said. Deliveries will commence from May 26.

The XUV 3XO will be available in petrol and diesel options and transmission options will include 6-speed manual, 6-speed automatic, and a 6-speed AMT.

Rajesh Jejurikar, Executive Director and CEO- Auto and Farm Equipment Sector, M&M, said, “We are number five in that sub-segment that is the size of 6 lakh and we hope to get number two or number one position in that.”