Anand Mahindra Remembers APJ Abdul Kalam's Advice as M&M Shares Jump to a Record High

Butterw

Editor

posted on 2 years ago — updated on 1 second ago

35
views

In a tweet, Mahindra narrated how Dr Kalam's advice had helped him in keeping his team motivated after the slump in the company's share prices in 2019.

Industrialist Anand Mahindra recalled the advice of former President Dr APJ Abdul Kalam after shares of Mahindra & Mahindra (M&M) Limited touched a new 52-week high of Rs 1,006.7, on Monday. In a tweet, Mahindra narrated how Dr Kalam’s advice had helped him in keeping his team motivated after the slump in the company’s share prices in 2019. “In 2019, M&M’s share price had fallen sharply from its all-time high of Rs 984,” Mahindra tweeted while adding that he had used Dr Kalam’s advice during the company’s annual leadership conference of that year.

Mahindra wrote that Dr Kalam, while inaugurating the Mahindra Research Valley in 2012, had asked him to “Take the Hill, i.e, dare to dream.”

Anand Mahindra asked his team to ‘take the hill’ after the 2019 share slump and set the target of getting the prices back up by the 75th anniversary of Mahindra and Mahindra. While the deadline was initially missed, a year later, Mahindra & Mahindra’s shares touched an all-time high on Monday.

Congratulating his team on the feat, the billionaire lauded Mahindra Group’s MD & CEO Anish Shah and Mahindra Auto’s Executive Director- Rajesh Jejurikar, for taking the company to the hill again.

https://twitter.com/anandmahindra/status/1531312581100548096?s=20&t=8DfGE7IHGE1qxK13hG_VuQ

Continuing its gains from the previous day, Mahindra & Mahindra’s share prices rallied over 3 per cent in the early trade today.

On Monday, Mahindra and Mahindra’s share price on BSE rose 4.30 per cent or 41 points to Rs 994.20. On the NSE, the share price went up by 4.41 per cent or 42.05 points.

Mahindra & Mahindra’s share prices have jumped nearly 25 per cent in 2021 whereas the auto stocks have also recorded a 10 per cent growth in the last five trading sessions.

The spike in M&M share prices comes in the backdrop of the company reporting a five-fold jump in standalone profit at Rs 1,192 crore for the quarter ending on March 31. Mahindra Group reported a 28 per cent jump in its revenue compared to the corresponding quarter of last year. From Rs 13,356 crore in the March quarter of 2020-21, the company’s revenue has now scaled up to Rs 17,124 crore.

The company, however, witnessed a slight dip in its earnings before interest, tax, depreciation and amortization (EBITDA) in the March quarter.

Read all the Latest Business News here