Mahindra & Mahindra stock gains 2% following launch of new LCV 'Veero'

Mahindra & Mahindra (M&M) shares climbed by 2% on Monday to day’s high of Rs 2,784 from previous close of Rs 2,740, following the launch of its latest light commercial vehicle (LCV) named "Veero." The new LCV is targeted to cater to the domestic market.

The new product, starting at Rs 7.99 lakh, offers unparalleled savings with best-in-class mileage, exceptional performance powered by robust multiple engine options, industry-leading safety features, enhanced occupant protection, and a premium cabin experience, according to a release.

The Veero is designed to set new standards in cost of ownership, capability, performance, safety, comfort, and technology. The latest also boasts best-in-class features, including a payload capacity of 1,600 kg, 3035 mm cargo length, 18.4 km/l mileage for diesel, and a 5.1 m turning radius, making it highly versatile and ideal for urban operations.

“The Mahindra Veero will further strengthen our leadership in the LCV <3.5 t segment. Built to help customers maximise earnings, it offers best-in-class payload, exemplary mileage, and superior maneuverability. With multiple segment-first technology and features, the vehicle ensures a premium cabin experience, unmatched safety, exceptional performance, and capability. The Mahindra Veero is designed to be a category disrupter ahead of all other offerings in this segment, truly living up to the promise of being ‘Soch Se Aage’," said Veejay Nakra, President - Automotive Division, Mahindra & Mahindra.

The new Urban Prosper Platform (UPP) is designed as India’s first Multi-Energy CV platform, including Diesel, CNG, and Electric. The platform is designed to offer best-in-class total cost of ownership and segment-first safety beyond regulations, the platform sets a new benchmark in the industry.

The Veero is designed for efficient performance, offering advanced fuel efficiency, durability, and enhanced load-carrying capacity, catering to the needs of small and medium enterprises in the logistics and delivery sectors. With India's commercial vehicle segment seeing a resurgence in demand post-pandemic, this launch is well-timed.

In the last six months, the shares of Mahindra & Mahindra went up by 52.90%. In the last two and three years, the share price was up by 120.31% and 264.03% respectively