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Mahindra CIE Automotive is currently trading at Rs. 411.10, up by 3.90 points or 0.96% from its previous closing of Rs. 407.20 on the BSE.

The scrip opened at Rs. 409.00 and has touched a high and low of Rs. 414.70 and Rs. 403.20 respectively. So far 54896 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 462.15 on 24-Feb-2023 and a 52 week low of Rs. 168.00 on 25-May-2022.

Last one week high and low of the scrip stood at Rs. 416.45 and Rs. 354.20 respectively. The current market cap of the company is Rs. 15586.10 crore.

The promoters holding in the company stood at 68.89%, while Institutions and Non-Institutions held 19.83% and 11.27% respectively.

Mahindra CIE Automotive has invested Rs 92.4 lakh towards subscription of additional 1,15,500 equity shares of Rs 10 each of Strongsun Solar. The aggregate shareholding of the company in Strongsun post this acquisition will constitute 27.35% of the post-issue paid-up capital of Strongsun.

Strongsun have set-up two captive generating plants of the capacity of 7 MWp and 3 MWp to supply captive solar power from these plants to Company’s factory of Foundry Division at Urse (7 MWp) and Magnetics Products Division at Bhosari (3 MWp) respectively. In order to qualify as a captive consumer, the company must hold atleast 26% of the total equity capital of the Power Generating Plant(s). Accordingly, the investment is essentially to qualify as a captive consumer and thereby optimizing the power cost at the plants. With this investment, the company has completed the total investment as agreed in Strongsun for the aforesaid two captive generating plants with aggregate capacity of 10 MWp.

Mahindra CIE is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers (including leading suppliers of components) in India and overseas.