M&M to launch sports vehicle NuvoSport early April

M&M to launch sports vehicle NuvoSport early April NuvoSport is based on the same new generation platform as the Scorpio but sport a bold and aggressive styling, the company said, adding the new vehicle is targeted at those leading an active, outdoorsy lifestyle

\Utility vehicles major Mahindra and Mahindra   today named its forthcoming SUV as NuvoSport, which will be rolled out in early April. NuvoSport is based on the same new generation platform as the Scorpio but sport a bold and aggressive styling, the company said, adding the new vehicle is targeted at those leading an active, outdoorsy lifestyle. Other details of the SUV such as engine capacity, power-train, price etc have not been revealed yet. Pravin Shah, President and Chief Executive for automotive division at M&M expressed hope that NuvoSport will meet the needs. "I am sure with NuvoSport, we will further consolidate our leadership in SUV segment and effectively address the entire gamut of customer segments across price points ranging all the way from Rs 4.5 lakh to Rs 25 lakh," he said. NuvoSport has been designed and developed in-house by Mahindra design team, while its R&D has been done at the Mahindra Research Valley in Chennai. Early January, the company had launched its first petrol engine-driven compact vehicle KUV100 in the Rs 7 lakh range and late last year a mid-segment unit called TUV300 under Rs 8 lakh range. Throughout last year, the company has been reporting falling sales and with the UV 100 it made a big bet with a new territory of petrol powertrains. M&M stock price On March 22, 2016, Mahindra and Mahindra closed at Rs 1253.15, up Rs 25.65, or 2.09 percent. The 52-week high of the share was Rs 1441.45 and the 52-week low was Rs 1092.00. The company's trailing 12-month (TTM) EPS was at Rs 50.46 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 24.83. The latest book value of the company is Rs 310.09 per share. At current value, the price-to-book value of the company is 4.04.

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