Mahindra & Mahindra rises as its arm sells 49% stake in Mahindra Tsubaki Conveyor Systems
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Mahindra & Mahindra is currently trading at Rs. 842.15, up by 1.15 points or 0.14% from its previous closing of Rs. 841.00 on the BSE.
The scrip opened at Rs. 835.00 and has touched a high and low of Rs. 844.40 and Rs. 823.85 respectively. So far 52331 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. 725.00 on 28-Jul-2021.
Last one week high and low of the scrip stood at Rs. 878.65 and Rs. 823.85 respectively. The current market cap of the company is Rs. 103781.71 crore.
The promoters holding in the company stood at 19.47%, while Institutions and Non-Institutions held 66.54% and 13.98% respectively.
Mahindra & Mahindra’s (M&M) wholly owned subsidiary -- Mahindra Engineering and Chemical Products (MECPL) has completed the sale of entire stake aggregating 49% of the paid-up Equity Share Capital held in Mahindra Tsubaki Conveyor Systems (MTC) to Tsubakimoto Bulk Systems Corp, for a consideration of Rs 58.89 crore. MTC has ceased to be an associate of MECPL.
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.
