As shares of Mahindra & Mahindra (M&M) Limited touched a new 52-week high of Rs 1,006.7 on Monday, Mahindra Group chairman Anand Mahindra congratulated his colleagues and remembered the advice of late president APJ Abdul Kalam.
In a Twitter post shared yesterday, Anand Mahindra said that he used the wise words of the late President Kalam to motivate his team after Mahindra & Mahindra share price fell sharply in 2019.
“In 2019, M&M’s share price had fallen sharply from its all-time high of Rs 984,” the industrialist wrote. “In our annual leadership conference that year, I reminded our team of the late President Kalam’s advice when he inaugurated Mahindra Research valley. ‘Take the Hill’ he said, i.e, dare to dream.”At the end of the leadership conference, Mahindra requested his team to “take the hill”- i.e. get share prices back up. He asked them to get share prices back up by the company’s 75th anniversary – a deadline they missed, but only by one year.
So at the end of the conference I requested the whole team to ‘Take the share price hill – get the share price back to its highest previous point.
By our 75th Anniversary, let’s see a return to a share price of 984.
We have done it before, and we can do it again.’ (2/3) pic.twitter.com/p9epvJz7z1
— anand mahindra (@anandmahindra) May 30, 2022
“The new leadership team took up the baton & today our stock closed at the round number of ₹1000-a new high,” wrote Anand Mahindra on Monday, as the company touched a new 52-week high and also gained the top spot in revenue market share of the SUV segment.
The Mahindra Group chairman congratulated Anish Shah, MD & CEO at the Mahindra Group, Rajesh Jejurikar, Executive Director- Auto and Farm Sectors, Mahindra & Mahindra, and other colleagues who ‘took the hill” and helped the company’s road to recovery.
The deadline of the 75th anniversary was missed. But by only a year.The new leadership team took up the baton & today our stock closed at the round number of ₹1000-a new high. I thank & salute @anishshah21 & @rajesh664 & all their colleagues who have ‘Taken the Hill’ again (3/3 pic.twitter.com/X5WaCil8CH— anand mahindra (@anandmahindra) May 30, 2022
Automaker Mahindra and Mahindra led a 1% jump in Indian shares on Monday after reporting positive quarterly results, while the market also benefited from an improvement in the global mood on news that Shanghai would ease COVID-19 curbs, Reuters reported.Leading the gains on the Nifty 50, Mahindra and Mahindra rose 2.5% after it reported a 47.8% jump in consolidated net profit.