M&M inches up as its South Korean unit signs pact with BYD Auto for EV battery development
Mahindra & Mahindra is currently trading at Rs. 831.35, up by 13.05 points or 1.59% from its previous closing of Rs. 818.30 on the BSE.
The scrip opened at Rs. 821.00 and has touched a high and low of Rs. 833.65 and Rs. 821.00 respectively. So far 11452 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 978.90 on 17-Nov-2021 and a 52 week low of Rs. 689.00 on 23-Dec-2020.
Last one week high and low of the scrip stood at Rs. 862.00 and Rs. 797.05 respectively. The current market cap of the company is Rs. 103290.65 crore.
The promoters holding in the company stood at 19.46%, while Institutions and Non-Institutions held 66.07% and 14.47% respectively.
Mahindra and Mahindra’s (M&M) South Korean unit -- SsangYong Motor Co has signed an initial pact with Chinese electric vehicle maker BYD Auto Co for EV battery development. SsangYong Motor has signed a memorandum of understanding with BYD Auto to develop car batteries and produce battery packs for its models.
The two companies plan to expand the partnership to jointly develop an EV-only platform in the long term. BYD's wholly owned battery manufacturer FinDreams Industry Co. will participate in the battery development project.
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.
