M&M shares fall over 8% after SUV price cut

Shares of M&M dropped 8.4% following a 10% price cut on XUV700 SUVs, reducing the stock by 6.7% in Nifty. Kotak Securities targets ₹2,950, advising long-term investment. Despite profit booking, analysts foresee no revenue impact, emphasizing a solid order book and growth from February 2024's business strategy execution.