Mahindra & Mahindra (M&M) on Monday said that it will increase prices of its tractors across models from January 1 next due to the increase in input costs.
The company, however, has not revealed the details of the price increase and has said in a regulatory filing that it will communicate the same in due course.
“Mahindra & Mahindra’s farm equipment sector today announced that effective January 1, 2021, the company will increase the price of its range of tractors across models. This has been necessitated due to the increase in commodity prices,” it said.
Shares of Mahindra & Mahindra on the BSE are currently trading at Rs 711.00, lower by Rs 21.05 or 2.88 per cent from its previous close.
Ahead of this, Automobile major Mahindra & Mahindra (M&M) will increase the price of its vehicles from January 1, 2021.
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The revision will affect its range of ‘Passenger and Commercial Vehicles’, across models.
“This has been necessitated due to the increase in commodity prices and various other input costs,” a company statement said.
“Details of the price increase across different models will be communicated in due course.”
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