July 18, 2024
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M&M enters the top 15 auto makers in the world with $44.2 billion market cap

Mahindra & Mahindra (M&M), with a market capitalization of $44.2 billion, stands as India’s second-largest automaker and ranks among the top 15 globally. Tesla Inc leads with a market cap of approximately $600 billion, followed by Toyota Motor Corporation at $306 billion, and BYD Company from China at $97 billion, focusing on electric vehicles (EVs).

M&M recently surpassed Hyundai Motor Company in rankings. Notably, Indian automakers Maruti Suzuki, M&M, and Tata Motors hold positions in the top 15. Maruti Suzuki is 12th with a market cap of $47.4 billion, while M&M and Tata Motors follow closely behind Ford Motor Company at 14th and 15th places.

In 2024, M&M’s stock has shown strong performance, rising by 71% year-to-date, outperforming all Nifty50 companies. The company plans significant investments, amounting to ₹27,000 crore from FY25 to FY27, aiming to expand production capacities for EVs and SUVs to 72,000 units monthly by March 2026.

Despite challenges in the tractor industry during FY24, M&M maintained its leadership with a 41.6% market share. Notably, its farm equipment division demonstrated resilience, particularly in the 20-30 HP segment, bolstered by successful launches like the OJA & Target tractor series.

On Tuesday, M&M shares hit a new high of ₹3,013.95 on the NSE, marking a third consecutive day of gains.

Picture Courtesy: Google/images are subject to copyright

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