Mon, Jul 22, 2024

M&M: M&M Stock Hits Record High on XUV 3XO Launch

The Mahindra & Mahindra company launched New compact SUV car XUV 3X0 today and it is going to pick up to 2nd or 3rd spot in the next three years currently it is in 6th place as per forecast view of Company CEO of Auto and farm segment. So M&M share prices are picked up 4% today after the New launch of SUV.

MAHINDRA & MAHINDRA Market Price has broken Ascending channel in upside

MAHINDRA & MAHINDRA Market Price has broken Ascending channel in upside

Shares of Mahindra & Mahindra (M&M) experienced a notable surge, climbing over 4 percent to reach a new peak of Rs 2,152 per share on April 30. This surge followed the launch of its compact SUV, the XUV 3XO, which debuted at a competitive starting price of Rs 7.49 lakh. Positioned to rival popular models like the Maruti Suzuki Brezza, Tata Nexon, and Hyundai Venue, the XUV 3XO launch was accompanied by ambitious goals from M&M’s management. They expressed their intention to secure a prominent position within the compact SUV segment, aiming to rank among the top two players over the next three years.

Rajesh Jejurikar, Executive Director and CEO of the Auto and Farm Equipment Sector at M&M, articulated this aspiration, stating, “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.”

Following this development, analysts at Investec maintained their ‘buy’ recommendation on M&M, setting a target price of Rs 2,200, reflecting a potential increase of over 2 percent from the current valuation. They anticipate that the introduction of the XUV 3XO will bolster M&M’s market share in the compact SUV segment, thereby fortifying its overall utility vehicle (UV) portfolio.

golden coin on a stair stack of golden coins with an increased graph

The XUV 3XO will offer both petrol and diesel variants, with transmission options including 6-speed manual, 6-speed automatic, and a 6-speed AMT. Sales for the model will commence both online and offline starting May 15, with deliveries slated to begin from May 26. Manufactured at M&M’s Nashik facility, the compact SUV boasts features such as a panoramic sunroof and level-2 Advanced Driver Assistance Systems (ADAS), encompassing functionalities like adaptive cruise control, lane keep assist, and blind spot monitoring.

KEC International: KEC Intl. Stock Rises 3% on Rs 1,036 Crore Order Wins

The KEC International Company bags the order of Rs.1036 cr today from Middle east and Americas. Transmission and Distribution segment bagged the orders from UAE and Poles, Towers fixing segment received orders from the US. Railway segment received orders from Government of India, Cables also received from states of India.

KEC is moving in Ascending channel and market has fallen from the higher high area of the channel

KEC is moving in Ascending channel and market has fallen from the higher high area of the channel

Intraday on April 30, the share price of KEC International witnessed a nearly 3 percent increase following the announcement of new orders totaling Rs 1,036 crore across its diverse business segments.

The Transmission & Distribution (T&D) business secured orders for projects in the Middle East and Americas, involving the establishment of overhead transmission lines in the United Arab Emirates (UAE) and the provision of towers, hardware, and poles in the Americas.

Additionally, the Railways business clinched an order for supplementary work in the conventional segment within India, while the Cables business sealed deals for the supply of various cable types both domestically and internationally.

Stay updated on market developments with our live blog.

Power lines over railroad track

A board of directors meeting is scheduled for Tuesday, May 07, 2024, to review and endorse the audited standalone and consolidated financial results for the quarter and fiscal year ended March 31, 2024, and to propose any dividend on equity shares for the fiscal year ended March 31, 2024.

Earlier, on April 3, the company had secured orders amounting to Rs 816 crore across its diverse business verticals.

Coromandel International: Coromandel Intl. Plans Phosphoric Acid Plants; Stock Dips

The Coromandel international company setup Rs.1000 cr phosphoric Acid and Sulphuric acid plant in Kakinada plant, Andhra Pradesh. This project will down the imports of Sulphuric acid 50% from other countries and for producing phosphatic fertilisers  in the company by own production of Sulphuric and phosphoric Acid.

COROMANDEL INTL Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel

COROMANDEL INTL Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel

Intraday on April 30, the share price of Coromandel International experienced a 1 percent decline, despite the company initiating project activities for the establishment of its phosphoric acid-sulphuric acid complex facility in Kakinada, Andhra Pradesh.

The project, with an anticipated investment of Rs 1,000 crore, is projected to be operational within a two-year timeframe, as stated by the company.

The proposed facility, boasting a capacity of 650 tons per day (tpd) for Phosphoric Acid production, is designed with advanced DA-HF (Dihydrate Attack-Hemihydrate Filtration) process technology and an automated Distributed Control System (DCS).

Coromandel International anticipates that this initiative will bolster its backward integration capabilities and ensure a consistent supply of phosphoric acid for its fertilizer manufacturing operations, replacing more than 50 percent of the imported acid currently required by the Kakinada plant.

various hanging on railing

The company also outlined plans to establish an 1800 tpd sulphuric acid plant to cater to the internal demands of phosphoric acid manufacturing, in addition to leveraging waste heat generation to enhance power generation capacity.

Both phosphoric acid and sulphuric acid serve as critical intermediates in the production of phosphatic fertilizers such as DAP (Di-Ammonium Phosphate) and NPKs (Nitrogen, Phosphorus, and Potassium fertilizers)


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