M&M gains on incorporating new step-down subsidiary
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Mahindra & Mahindra is currently trading at Rs. 1387.20, up by 8.35 points or 0.61% from its previous closing of Rs. 1378.85 on the BSE.
The scrip opened at Rs. 1380.10 and has touched a high and low of Rs. 1387.80 and Rs. 1366.10 respectively. So far 16327 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1420.00 on 07-Jun-2023 and a 52 week low of Rs. 972.90 on 22-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1389.00 and Rs. 1362.80 respectively. The current market cap of the company is Rs. 171681.59 crore.
The promoters holding in the company stood at 19.37%, while Institutions and Non-Institutions held 66.96% and 13.66% respectively.
Mahindra & Mahindra (M&M) has incorporated new step-down subsidiary ‘Furies Solren’ (Furies) on June 14, 2023. Furies is a wholly owned subsidiary of Mahindra Susten (MSPL), which is a subsidiary of Mahindra Holdings, which in turn is a wholly owned subsidiary of the Company.
MSPL has incorporated Furies for production and sale of Power and Generating Electricity, Distributed Energy including rooftop solar installation for commercial, industrial, institutional and residential segment.
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.
