The inspection and necessary part replacement if any, would be carried out with immediate effect and would be done free of cost for Scorpio Ex customers who would be individually contacted by the company/authorised dealers
Homegrown auto major Mahindra & Mahindra is recalling around 23,000 units of a select variant of its popular sports utility vehicle Scorpio to rectify faulty pressure regulating valves.
The company said it would carry out preventive inspection of some parts of its Scorpio Ex variant manufactured between May 2012 and November 2013.
"This recall is limited only to the Scorpio Ex variant manufactured during the said period and does not affect any other Scorpio variants," the company said in a statement.
The inspection and necessary part replacement if any, would be carried out with immediate effect and would be done free of cost for Scorpio Ex customers who would be individually contacted by the company/authorised dealers, it added.
In December last year, the company had undertaken a similar exercise on 985 units of Scorpio Ex variant. Ever since auto industry body SIAM initiated voluntary recall policy for safety reasons in July 2012, 6,09,676 vehicles have been recalled so far.
Ford India has recalled as many as 2,95,648 units of various models, including its compact SUV EcoSport. The country's largest carmaker Maruti Suzuki India has recalled 1,03,311 units of Swift, Dzire and Ertiga this year alone.
M&M stock price
On July 09, 2014, at 14:13 hrs Mahindra and Mahindra was quoting at Rs 1171.50, down Rs 41.25, or 3.4 percent. The 52-week high of the share was Rs 1268.75 and the 52-week low was Rs 741.50.
The company's trailing 12-month (TTM) EPS was at Rs 61.02 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 19.2. The latest book value of the company is Rs 299.24 per share. At current value, the price-to-book value of the company is 3.91.
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