Published on 23/02/2021 2:01:59 PM | Source: Accord Fintech

Mahindra & Mahindra rides high after its arm partners with Amazon India

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Mahindra & Mahindra is currently trading at Rs. 841.55, up by 4.65 points or 0.56% from its previous closing of Rs. 836.90 on the BSE.

The scrip opened at Rs. 840.00 and has touched a high and low of Rs. 856.80 and Rs. 819.65 respectively. So far 372306 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 952.15 on 08-Feb-2021 and a 52 week low of Rs. 245.80 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 920.30 and Rs. 819.65 respectively. The current market cap of the company is Rs. 103961.98 crore.

The promoters holding in the company stood at 19.44%, while Institutions and Non-Institutions held 66.14% and 14.17% respectively.

Amazon India has entered into a partnership with Mahindra & Mahindra’s (M&M) subsidiary -- Mahindra Electric Mobility to further strengthen its commitment towards electric mobility in the country. In 2020, Amazon India had announced that its fleet of delivery vehicles will include 10,000 electric vehicles (EVs) by 2025 in India. These EVs are in addition to the global commitment of 100,000 electric vehicles in the delivery fleet by 2030 announced in the Climate Pledge signed by Amazon. This partnership with Mahindra Electric is an important step towards India’s progress in the e-mobility industry to achieve its environmental sustainability goals.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.