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M&M gains as bookings for KUV100 top 21,000 units

Shares of Mahindra & Mahindra were up nearly 1% at Rs 1213 on the Bombay Stock Exchange after the company announced that its recently launched sports utility vehicle KUV 100 has crossed 21,000 bookings in just a month post launch.

Conceptualised and developed with the aim of creating a new category with the SUV proposition at an attractive price point, the KUV100 has appealed significantly amongst youth and first time car buyers, the company said in a release.

More than half of the bookings are for the KUV100 petrol variant, the release added.

The stock opened at Rs 1,220 and touched a high of Rs 1,223. At 11:40am, over 175,000 shares were traded on both the stock exchanges.