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Mahindra CIE Automotive is currently trading at Rs. 288.90, up by 2.30 points or 0.80% from its previous closing of Rs. 286.60 on the BSE.

The scrip opened at Rs. 293.65 and has touched a high and low of Rs. 293.65 and Rs. 288.30 respectively. So far 6499 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 327.90 on 20-Oct-2022 and a 52 week low of Rs. 164.00 on 23-Mar-2022.

Last one week high and low of the scrip stood at Rs. 295.80 and Rs. 282.05 respectively. The current market cap of the company is Rs. 11017.27 crore.

The promoters holding in the company stood at 74.96%, while Institutions and Non-Institutions held 14.92% and 10.10% respectively.

Mahindra CIE Automotive has invested Rs 2.43 crore towards subscription of 3,03,250 equity shares of Rs 10 each of Strongsun Solar (Strongsun) which will constitute 27.35% of the post-issue paid-up capital of Strongsun.

Strongsun is setting 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. Accordingly, the investment is essentially to qualify as a captive consumer and thereby optimizing the power cost at the plants. The total investment in Strongsun is expected to be completed by April, 2023.

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.