M&M rides high on entering into agreement with Jio-bp
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Mahindra & Mahindra is currently trading at Rs. 1246.20, up by 17.60 points or 1.43% from its previous closing of Rs. 1228.60 on the BSE.
The scrip opened at Rs. 1238.35 and has touched a high and low of Rs. 1259.40 and Rs. 1230.20 respectively. So far 33772 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1365.90 on 09-Sep-2022 and a 52 week low of Rs. 671.00 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1277.05 and Rs. 1217.95 respectively. The current market cap of the company is Rs. 154951.52 crore.
The promoters holding in the company stood at 19.45%, while Institutions and Non-Institutions held 66.94% and 13.61% respectively.
Mahindra & Mahindra (M&M) and Jio-bp -- the fuel retailing joint venture between Reliance Industries and bp, have entered into agreement for setting up charging network for the upcoming electric SUVs of M&M. The pact will strengthen the existing pact between M&M and Jio-bp. Last year, the companies signed memorandum of understanding (MoU) for exploring the creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels. Jio-bp and M&M will together drive electric passenger car adoption in India and help expedite the country's net-zero emission 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.
