SML Mahindra shares open lower on NSE after recent rally
In short
SML Mahindra shares opened at ₹6,501 on NSE on 1 October, below the previous close of ₹6,578 on Wednesday. They fell to an intraday low of ₹6,300.05.
The stock had already risen 100% over one year, so traders are watching for a rebound or more weakness. The report does not say why the share price dropped.
What the reporting says
SML Mahindra shares opened at ₹6,501 on NSE on 1 October, compared with the previous close of ₹6,578 on Wednesday, and hit an intraday low of ₹6,300.05. The reporting frames the move after a 100% one-year rally, but it does not give a cause for the decline or confirm any analyst target. The immediate consequence is a pullback in the stock after strong prior gains.
Why it matters
SML Mahindra shares opened lower at ₹6,501 on NSE on 1 October versus a previous close of ₹6,578, and the stock touched an intraday low of ₹6,300.05. The reporting also notes a 100% rally over the past year. This points to a short-term pullback after a strong run, but the reason for the move is not stated.