Shares of Mahindra Auto nosedived later int he day after no Scorpio was spotted in Sooryavanshi trailer. This created panic among many who held shares of Mahindra auto. Large buyers and Institutional investors went on selling spree which led to the stock closing on a 52 week low.
“The lead actors of Singham Universe have changed, but what remained constant through all the earlier movies is a Mahindra Scorpio. The absence of a Scorpio in the trailer raises questions on the order book of Mahindra Auto. This has only fueled speculations that the stock in overvalued at the moment. No wonder the stock plummeted,” remarked a market analyst to Faking news.
Last year the aforementioned stock reached a high after Sooryanvanshi was announced. The company had even set up a manufacturing facility in Pune to cater to growing demand of Scorpio SUVs for Rohit Shetty movies.
“The plant with an output capacity of 200 SUVs was already in operation last year. The work for future orders is also on track. So there is nothing to worry,” said a senior official from Mahindra.
However, that has done little to allay fears of investors, who believe that the stock could take another beating if there is no Scorpio in the movie as well. Rohit Shetty did not respond to our messages and urged viewers to check the movie out to find answers.
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