Anand Mahindra Reflects on 2019 Stock Correction as M&M Crosses Rs 2,000 Mark

As Mahindra & Mahindra Ltd (M&M) shares soared past the Rs 2,000 mark at the Thursday closing, Anand Mahindra, the Chairperson of the auto major, took a moment to reflect on the company’s journey. He recalled the tough days in 2019 when the stock plummeted below the Rs 500 mark.

At the annual leadership conference (M10) held in Mumbai five years ago, Anand Mahindra’s then-CFO issued a call for M&M’s stock to hit “2000 by 2022.” Although the deadline was not met in 2022, the stock eventually achieved the milestone on Thursday, closing at Rs 2,002.45 on the Bombay Stock Exchange (BSE), marking a significant moment for the company.

Reflecting on the unforeseen challenges posed by the global pandemic, Mahindra acknowledged the resilience and perseverance demonstrated by the company during the tumultuous years. Despite the setbacks, Mahindra emphasized the company’s commitment to its motto: “When the going gets tough, Mahindra gets going.”

While the stock overshot the deadline by two years, Anand Mahindra expressed immense gratification at crossing this significant milestone. He attributed the achievement to the collective efforts of the teams at M&M and its group companies, who devised new strategies and worked tirelessly to steer the company back on its growth trajectory.

With optimism for the future, Anand Mahindra expressed confidence in achieving many more milestones ahead. The successful journey of M&M shares serves as a testament to the resilience and determination of the company to navigate through challenges and emerge stronger than ever.