Mahindra & Mahindra Shares Rally 3% as June Sales Jump 37%, EV Momentum Strengthens

Mumbai, July 1: Mahindra & Mahindra (M&M) share price gained as much as 3% on Wednesday after the automaker reported a strong jump in June sales, reinforcing investor confidence in its growth outlook. Sentiment was further boosted by continued momentum in the company’s electric vehicle (EV) business and bullish commentary from brokerages, which expect policy support to drive future growth.

The stock rose as investors cheered the combination of robust operating performance, improving EV adoption and favourable analyst views. As of writing the stock was up 2% at Rs 3,133. 

June Auto Sales Rise 37% 

M&M reported total auto sales of 1,06,207 units in June, a 37% year-on-year increase. Domestic SUV sales rose 28 per cent year-on-year to 60,393 units. Commercial vehicle domestic sales saw 35 per cent year-on-year growth at 26,076 units. 

The robust numbers reinforced expectations that M&M continues to outperform the broader industry. 

EV Business Continues to Gather Pace

The stock is down over 16% this year, promising upside for investors looking to bet on the company’s future. Source: Google

Investor sentiment also received a boost from the company’s growing presence in the electric vehicle segment.

Industry data showed India’s EV market continued to expand in the June quarter, with manufacturers such as M&M and Tata Motors registering strong growth in electric passenger vehicle sales as consumers increasingly shift towards cleaner mobility. Rising fuel prices, an expanding charging network and new model launches have supported the industry’s growth trajectory. 
M&M, the second-largest electric passenger vehicle maker, almost doubled registrations to 20,112 units. 

Brokerages See Further Upside 

 Nomura reiterated its positive stance, saying the proposed Delhi EV policy could act as a significant tailwind for automakers with established electric vehicle portfolios. The brokerage expects government spending on EV incentives, charging infrastructure and tax benefits to accelerate adoption and identified M&M among the key beneficiaries.  

Growth Outlook Remains Strong 

Analysts expect M&M to remain one of the strongest performers in the Indian auto sector, supported by its leadership in SUVs, expanding EV lineup and healthy execution. 

With robust June sales, improving electric vehicle momentum and supportive policy developments, investors are increasingly betting that the automaker is well positioned to sustain its growth trajectory in the coming quarters.  

Source

•  https://www.nseindia.com/get-quote/equity/M&M/Mahindra-&-Mahindra-Limited