M&M shares rise as brokerages cheer company's E-PV business plans
Updated: 11 Jul 2022, 03:57 PM IST
TL;DR.
- British International Investment will invest ₹1,930 crore in the passenger EV subsidiary of M&M at an equity valuation of $5.3-9.1 billion.
Analysts and brokerage firms highlighted that the newly formed subsidiary will invest in EV products as they believe electrification in PVs can accelerate amid favourable government policies, development of EV-specific infrastructure and accessible pricing along with higher range. REUTERS/Danish Siddiqui/File Photo