Mahindra Logistics jumps on acquiring entire stake in Meru Travel Solutions
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Mahindra Logistics is currently trading at Rs. 474.55, up by 7.80 points or 1.67% from its previous closing of Rs. 466.75 on the BSE.
The scrip opened at Rs. 468.50 and has touched a high and low of Rs. 477.85 and Rs. 468.50 respectively. So far 3894 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 819.15 on 30-Aug-2021 and a 52 week low of Rs. 395.65 on 28-Feb-2022.
Last one week high and low of the scrip stood at Rs. 479.90 and Rs. 444.35 respectively. The current market cap of the company is Rs. 3413.71 crore.
The promoters holding in the company stood at 58.18%, while Institutions and Non-Institutions held 32.52% and 9.30% respectively.
Mahindra Logistics has acquired entire paid-up share capital of Meru Travel Solutions (MTSPL) from Mahindra & Mahindra (M&M). Consequently, MTSPL has become a wholly-owned subsidiary of the Company with effect from May 17, 2022. MTSPL would continue to remain subsidiary of M&M.
Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.
