M&M Stock Up 7% Intraday At All-time High, Record Booking For Scorpio-N In 30 Minutes

The share price of Mahindra & Mahindra Ltd (M&M) is up around 6.4% at Rs. 1,238.95/share, till 1.06 pm today, August 1. The company has made a milestone of 1,00,000 bookings for the all-new Scorpio-N in just 30 minutes on Saturday. Today, on NSE, its share price opened at Rs. 1,189.40 and reached its all-time high level at Rs. 1,248, intra-day. Interested investors can watch this stock.

In the past 5 days, M&M's share price clicked above 9% gain, and in the past 1 month, it was up by around 12%. Also, in the past 1 year, its share price gained by 63.51% amid a bearish market trend, making it a lucrative investment opportunity.

According to the available reports, Scorpio-N's book value stood at Rs. 18,000 crore on an ex-showroom price basis. Additionally, M&M mentioned that the rush for Scorpio-N echoed to a record high of 25,000 bookings in the first one minute. Due to high booking pressures, the website faced certain glitches which led to the booking failures of many customers. Otherwise, the number could have been higher. Commenting on the matter, Anand Mahindra stated, "From our press release. And I add my reassurance: There was a brief glitch with the payment gateway provider. We assure all customers that their time stamp prior to payment is duly recorded, so each customer will have their rightful place in the order sequence."