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Mahindra CIE Automotive is currently trading at Rs. 447.80, up by 10.70 points or 2.45% from its previous closing of Rs. 437.10 on the BSE.

The scrip opened at Rs. 437.40 and has touched a high and low of Rs. 451.00 and Rs. 437.40 respectively. So far 40588 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. 451.00 and Rs. 411.05 respectively. The current market cap of the company is Rs. 16879.73 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 4.16 crore towards capital contribution of Clean Max Deneb Power LLP (Clean Max Deneb) to source green energy on captive basis. The company has been taking various steps to optimize its power cost and increase the consumption of green energy at various power intensive plants of the company.

Clean Max Deneb is developing captive power generation Facilities in Karnataka, having wind turbine generators of 2.7 MVA capacity (Wind Capacity) in Jagaluru, Chitradurga District and solar photovoltaic power plant of up to 6 MWp capacity (Solar Capacity) for supplying captive power to Company’s plant in Karnataka and Tamil Nadu.

In order to qualify as a captive consumer, the Company must hold atleast 26% of the total capital contribution of the wind and solar power generating plant(s). Accordingly, the investment is essentially to qualify as a captive consumer and thereby further optimising the power cost at company’s plant in Karnataka and Tamil Nadu.

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.