Mahindra & Mahindra rises on acquiring 17.41% stake in Swaraj Engines
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Mahindra & Mahindra is currently trading at Rs. 1252.15, up by 16.40 points or 1.33% from its previous closing of Rs. 1235.75 on the BSE.
The scrip opened at Rs. 1230.00 and has touched a high and low of Rs. 1257.30 and Rs. 1212.00 respectively. So far 37949 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. 1320.45 and Rs. 1212.00 respectively. The current market cap of the company is Rs. 155181.51 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) has acquired 21,14,349 equity shares constituting 17.41% of the paid up equity share capital of Swaraj Engines (SEL) from Kirloskar Industries (KIL). Consequently, the shareholding and voting rights of the company in SEL have increased from 34.72% to 52.13% of the equity share capital of SEL and SEL has become a subsidiary of the company with effect from September 27, 2022.
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.
