M&M down 6%, top Nifty 50 loser on profit booking, XUV 7OO price cut

Over the past year, shares of M&M jumped 80 percent in trade.

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26 Aug, 2025 12:21

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Automotive major Mahindra & Mahindra was the top Nifty 50 loser, falling over six percent in early trade on July 10 after the firm decided to slash prices on its best-selling SUV amid low demand.

At 9.45 am, M&M shares were quoting Rs 2,794.8 apiece, down 4.5 percent on the NSE.

As the SUV price-war heats up, M&M cut its price on the AX7 range of the XUV 700 by Rs 2 lakh. The model now starts at  Rs 19.49 lakh compared to Rs 21.4 lakh earlier, said the firm. The “celebratory pricing” will only be available for four months.

“The refreshed pricing aims to make the XUV 7OO even more accessible to a broader range of customers while providing exceptional value,” said M&M in the statement.

During the July 9 trading session, auto stocks saw a surge in demand with Maruti Suzuki jumping seven percent on UP government's waiver of registration tax on hybrid cars to promote environmentally friendly vehicles in the state. M&M shares could also be falling on account of investors taking some profits off the table, experts said.

June car sales noticed slow demand owing to election-related disruptions and weather-related difficulties such as an intense heatwave or overwhelming monsoon. Around Rs 60,000 crore worth of inventory is lying unsold with dealers, according to reports.

Over the past year, shares of M&M jumped 80 percent in trade as against a 26 percent rise in the frontline Nifty 50 index during the same time period.