Share price of Mahindra & Mahindra (M&M), part of the USD 19.4 billion Mahindra Group, gained nearly 2% on January 11 after the company announced that effective Jan. 8, 2021, the prices of its range of Personal and Commercial vehicles will increase by around 1.9%, resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant.

In the case of All New Thar, the current price increase will be effective for all bookings done between Dec. 1, 2020 and Jan. 7, 2021. All fresh bookings for All New Thar, effective Jan. 8, 2021, will have prices as applicable on the date of delivery.

According to Veejay Nakra, CEO - Automotive Division, M&M, "The price increase was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months. We have made all efforts to reduce our costs and deferred price increase for a significant duration, but due to the quantum of input cost increase, consequently we are taking this price increase effective Jan. 8, 2021."

Shares of Mahindra & Mahindra are trading at Rs 782.50, up Rs 12, or 1.69% at the Bombay Stock Exchange (BSE) on Monday at 1:11 p.m.

The scrip has touched an intra-day high of Rs 785.25 and low of Rs 763.40. The total volume of shares traded at the BSE is 167,432.In the earlier session, the shares rose 3.51%, or Rs 26.1, at Rs 770.50.

Currently, the stock is trading all time 52-week high, which is above 217.53% over the 52-week low of Rs 245.80.