Last Thursday, amidst the stormy rise in the stock market, the shares of Mahindra & Mahindra Limited (M&M) also made a new record.
Shares of M&M reached a level of Rs 2,014.90 on the fourth trading day of the week. Seeing this rise, Mahindra & Mahindra Chairman Anand Mahindra recalled the period when the company’s shares were crawling.
What did Anand Mahindra say?
Anand Mahindra shared a screenshot of Thursday’s closing price of M&M shares on its social media platform X.
Along with this, he wrote – In December 2019, when the share price had fallen to about ₹ 500, in the program organized in Mumbai, the then CFO had expected the share to reach ₹ 2000 by the year 2022.
Corona affected
Anand Mahindra further wrote – Certainly we did not know that a global pandemic was coming and the next few years were going to be challenging for everyone. But as always, we stuck to our belief that when the going gets tough, Mahindra moves forward.
Anand Mahindra further said that the stock went two years ahead of its deadline but it is pleasant to cross this milestone.
He told that there is still more to come. Anand Mahindra thanked the teams of the group companies.
Share at Rs 2000 after 4 years
Not as per the expectations of the CFO, but on Thursday the shares of Mahindra & Mahindra crossed the level of Rs 2000.
Let us tell you that on Thursday the company’s shares closed at Rs 2,002.45 on BSE with a rise of 0.66 percent.
Shares of Mahindra & Mahindra had touched the level of Rs 280 in April 2020 during the first phase of the Corona epidemic.
Since then, investors have received returns of more than 612 percent from this stock.