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M&M rises on launching custom hiring centre for farm equipment rental business

29 Jul 2016 Evaluate

M&M is currently trading at Rs. 1468.50, up by 16.20 points or 1.12% from its previous closing of Rs. 1452.30 on the BSE.

The scrip opened at Rs. 1453.00 and has touched a high and low of Rs. 1479.65 and Rs. 1452.30 respectively. So far 38,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1485.00 on 15-Jul-2016 and a 52 week low of Rs. 1092.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1479.65 and Rs. 1435.20 respectively. The current market cap of the company is Rs. 91,207.42 crore.

The promoters holding in the company stood at 25.41%, while Institutions and Non-Institutions held 55.73% and 13.65% respectively.

Mahindra’s Farm Equipment Sector (FES), a part of the $17.8 billion Mahindra & Mahindra (M&M), has launched its first custom hiring centre for farm equipment rental business under its ‘TRRINGO’ initiative. The first centre was inaugurated at Hithnal Hobli in Koppal District in Karnataka state.

Focused to bring in new age digital technology to the tractor rental business, TRRINGO is expected to significantly increase the reach of farm mechanization. TRRINGO allows farmers to rent tractors and other mechanized farm equipment for completing their farming requirements without any investment.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.


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