Mahindra & Mahindra moves up on acquiring 3.53% stake in RBL Bank
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Mahindra & Mahindra is currently trading at Rs. 1462.20, up by 15.35 points or 1.06% from its previous closing of Rs. 1446.85 on the BSE.
The scrip opened at Rs. 1458.40 and has touched a high and low of Rs. 1471.15 and Rs. 1450.90 respectively. So far 42099 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1594.85 on 13-Jul-2023 and a 52 week low of Rs. 1124.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1573.55 and Rs. 1438.00 respectively. The current market cap of the company is Rs. 182550.03 crore.
The promoters holding in the company stood at 19.37%, while Institutions and Non-Institutions held 67.08% and 13.55% respectively.
Mahindra & Mahindra (M&M) has acquired a 3.53% stake in RBL Bank as an investment at a cost of Rs 417 crore. The company may consider further investment subject to pricing, regulatory approvals and required procedures. However, in no circumstance will it exceed 9.9%.
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.
