Mahindra & Mahindra (M&M) – Riding the GST 2.0 Wave

– Riding the GST 2.0 Wave Why it matters GST 2.0 lowers taxes on SUVs, cars, and tractors. As India’s leader in these segments plus EV 3-wheelers, M&M stands to gain directly through stronger demand. Business Snapshot SUVs & Pickups: Scorpio-N, Thar, XUV700, Bolero, and new XUV3XO drive strong bookings. Some models still have 1–3 month waitlists. Tractors: World’s largest by volume; Mahindra and Swaraj brands lead. Lower GST will lift rural sales. EV 3-Wheelers: Market leader, selling over 10,000 units in a month. Rapid growth expected with urban green mobility push. Global Reach: Presence in 100+ countries; strong sales in US, Australia, Africa, Asia. Roxor off-roader adds niche US demand. GST 2.0 Benefits SUVs: Tax cut from ~50% to ~40% → Thar, Scorpio, XUV700 cheaper. Sub-4m cars: Now at 18% GST → XUV3XO more affordable. Tractors: Lower GST → farm demand boost. EVs: Remain at 5% → cost advantage intact. Demand Trends 2.2 lakh open bookings, including 50,000 XUV3XO on launch day. Tractor sales up ~30% YoY in August. EV 3-wheelers scaling rapidly. Stock View New 52-week high at ₹3,540–3,550. Support: ₹3,400–3,450 | Resistance: ₹3,600+. Dips being bought, uptrend intact. Risks Supply constraints → long wait times. Intense competition from Tata, Maruti, Hyundai. Smooth GST 2.0 rollout needed across states. Outlook M&M is one of the biggest winners from GST 2.0. With SUVs, tractors, and EVs all benefiting, plus festive season demand and global reach, the company is well-positioned for strong growth. Bottom Line: M&M enjoys near-term momentum and long-term strength under GST 2.0. Disclosure: I and my family have no financial interest in M&M at the time of writing. Disclaimer: This report is for information purposes only, not investment advice. Please consult a financial advisor before acting.