Shares of Mahindra & Mahindra (M&M) hit a record high in early trade today after Volkswagen inked a supply agreement for electric components of Volkswagen´s MEB and unified cells for use in the Indian firm’s electric platform INGLO. M&M shares rose 6% to a high of Rs 1864.65 against the previous close of Rs 1765.55 on BSE. Market cap of the firm rose to Rs 2.29 lakh crore.
M&M share price: Nuvama Institutional Equities has assigned a 'Buy' call on the counter with a target price of Rs 1,850, suggesting a potential upside of Rs 20.26 per cent. The PV order book is strong at 286,000 units led by Scorpio, XUV700 and Thar," the brokerage said.