Auto major Mahindra & Mahindra is in the final stages of testing its premium 390cc motorcycle Mojo, a top official said in Chennai on Thursday.
Asked when the motorcycle is expected to hit the road, he said, "very soon", but did not divulge further details. The engine of this motorcyle has been designed at the research and development centre at Pune, set up at a cost of Rs 100 crore.
Unveiling the company's latest 110cc motorcycle-models Centuro and Pantero in Tamil Nadu market in Chennai, Anoop Mathur, Mahindra & Mahindra president- two-wheelers and member of the board said the company wants to become a player of substance with the launch. He added that two motorcycle-models were designed at the Pune research and development centre facility.
Admitting that M&M was a late entrant in the crowded two-wheeler market,he said they have been steadily increasing market share after the launch of scooters. He said the company plans to launch three more scooter-variants before this year end. "Hopefully we should have three more variants coming this year", he said.
The company currently manufactures its two-wheelers in Pithampur facility. Popli replied in the affirmative when asked whether the company was looking for exports of its motorcycles, saying some markets would be South Africa, Latin America and Southeast Asia. "Already we are exporting our scooters to some overseas markets. We will stretch it further", he said.
While 110cc motorcycle-model Pantero would be immediately available in Tamil Nadu at Rs 44,190 ex-showroom, the Centuro would hit the roads in four to six weeks, he said.
M&M stock price
On November 30, 2015, Mahindra and Mahindra closed at Rs 1367.25, up Rs 19.05, or 1.41 percent. The 52-week high of the share was Rs 1441.45 and the 52-week low was Rs 1095.00.
The company's trailing 12-month (TTM) EPS was at Rs 52.62 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 25.98. The latest book value of the company is Rs 310.09 per share. At current value, the price-to-book value of the company is 4.41.
Set email alert for
ADS BY GOOGLE
video of the day
Mkt resilient at current level; bullish auto: ICICI Pru AMC