Mahindra Logistics rises on incorporating wholly owned subsidiary in Mumbai
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Mahindra Logistics is currently trading at Rs. 499.55, up by 3.60 points or 0.73% from its previous closing of Rs. 495.95 on the BSE.
The scrip opened at Rs. 493.10 and has touched a high and low of Rs. 510.00 and Rs. 493.10 respectively. So far 6652 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 814.00 on 25-Nov-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. 510.00 and Rs. 480.75 respectively. The current market cap of the company is Rs. 3593.12 crore.
The promoters holding in the company stood at 58.12%, while Institutions and Non-Institutions held 33.57% and 8.31% respectively.
Mahindra Logistics has incorporated wholly-owned subsidiary namely ‘V-Link Freight Services’ (VFSPL) in Mumbai, Maharashtra. VFSPL will carry on logistics, supply chain management, freight forwarding, charter and related businesses, across geographies. The company has acquired 100% equity stake in VFSPL by subscribing 10 lakh equity shares of the face value of Rs 10 per share aggregation to Rs 1 crore.
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.
