Mahindra & Mahindra (M&M) has made a significant leap in the Indian market, overtaking Tata Motors to become the country’s second most valuable company. M&M’s market capitalization has soared to INR 3,65,193 crore, surpassing Tata Motors’ market cap of INR 3,29,041 crore. This milestone was achieved as M&M’s stock price surged by 3% to reach a new 52-week high of INR 2,946.
The impressive performance of M&M’s stock is evident in its remarkable rally over the past year, with a staggering 112% increase. In 2024 alone, the company has delivered an impressive return of 72%, outperforming both its sectoral index and the broader Nifty50. The Nifty auto index has also experienced a robust growth, surging by over 75% in the last year and gaining 38% year-to-date.
This remarkable achievement underscores M&M’s strong position in the market and its ability to deliver consistent growth and value to its shareholders. The company’s performance reflects the positive sentiment towards the auto sector and its potential for further growth in the future.
