M&M stock rises 2.6% after Scorpio-N launch

Auto major Mahindra & Mahindra stock is trading 2.61% higher or 28.80 points up after the company announced the launch of its all-new ‘Scorpio-N’, with a starting price of ₹11.99 lakh. At the same time, Sensex and Nifty are down by 0.33% (175.82 points) and 0.24% (38.70 points), respectively. During the intra-day trade, the stock rose up to ₹1,120.60 before settling down at ₹1,110.65 currently. The share is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Despite negative sentiments in the broader market, the auto stock has risen 11.25% in the past month, while its six-month return stands at 32.43%. In the year-to-date and one-year period, the M&M stock has risen 33.85% and 39.97%, respectively. After the launch of the all-new Scorpio-N, brokerages also seem bullish on the stock.

The company claims the Scorpio-N is completely new ground-up, with no carryover components of the existing Scorpio. It claims the SUV is the biggest and most advanced of all the previous versions of Mahindra Scorpio. This allows Mahindra to elevate existing segment benchmarks across performance, capabilities, technology, and experience. “The development and engineering of the All-New Scorpio-N is the outcome of an overall investment of ₹1,600 crore, which includes setting up a world-class highly automated manufacturing line,” says Mahindra.

Veejay Nakra, president of the automotive division, M&M Ltd., says the Scorpio-N takes forward the Mahindra legacy of building authentic, desirable and tough yet sophisticated SUVs. He says it is a global product, being unveiled simultaneously in South Africa and Nepal, alongside the India launch. The company will also be exploring other international markets in future.

The Scorpio-N is an intuitive, immersive and enjoyable SUV to drive and own, says R. Velusamy, chief of automotive tech and product development.

The Scorpio-N will be available for test drives from July 5, 2022, in 30 cities and in the rest of the country by July 15, 2022. Bookings will open online and at the company dealerships on July 30, 2022. The ‘Add to cart’ feature for the SUV will be available online and at dealerships from July 5, 2022. As per the company, bookings will be done on a ‘first come, first served’ basis and will also form the basis of delivery dates, depending on the variant chosen by the customer.

The Scorpio-N Z2 model has been priced at ₹11.99 lakh and ₹12.49 lakh for petrol and diesel variants, respectively. Z4 has been priced at ₹13.49 lakh for petrol and ₹13.99 lakh for diesel. Z6 model comes in diesel variant only and is priced at ₹14.99 lakh. The Z8 and Z8L petrol variants are priced at ₹16.99 lakh and ₹18.99, respectively. These models as diesel variants will cost ₹17.49 lakh and ₹19.49 lakh, respectively.

The Scorpio-N is built on the company's new third-generation body-on-frame platform. It is powered by a TGDi mStallion (petrol) engine with 149.14 kW (200 PS) of power and 380 Nm of torque, and mHawk (diesel) engine with 128.6kW (175PS) of power and 400 Nm torque, offered in both 6-speed manual and automatic transmissions, and 4X4 as an option.

Some changes that customers will see in new Scorpio-N are more muscular wheel arches, tall, stacked tail lamp design and a range of colour options -- Deep Forest, Napoli Black, Everest White, Red Rage, Dazzling Silver, Royal Gold, and Grand Canyon.

Interiors have also been improved with coffee-black leatherette upholstery, better seating position, smoother steering, intelligent terrain management tech, metal-finished dual rails, and advanced infotainment. Mahindra also claims that the Scorpio-N has the lowest CO2 emission in its segment.