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M&M speeds up on inking strategic pact with Ola

08 Sep 2016 Evaluate

Mahindra & Mahindra (M&M) is currently trading at Rs. 1497.15, up by 8.45 points or 0.57% from its previous closing of Rs. 1488.70 on the BSE.

The scrip opened at Rs. 1500.00 and has touched a high and low of Rs. 1501.10 and Rs. 1489.00 respectively. So far 15366 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1508.80 on 09-Aug-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. 1501.10 and Rs. 1438.00 respectively. The current market cap of the company is Rs. 93021.01 crore.

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

M&M has signed a Memorandum of Understanding (MOU) to enter into a strategic alliance with the country’s largest shared transportation platform, Ola to empower 40,000 driver partners across India by 2018.

Through this strategic alliance, they aim overall vehicle sales and financing of over $ 400 million (Rs 2,600 crore). Ola’s driver partners can now avail of an integrated and attractive ‘Mahindra-Ola’ package which will include Mahindra cars at special prices, attractive financing with zero down payment, and the best NBFC interest rates, subsidized insurance premiums, comprehensive maintenance packages, as well as exclusive benefits on the Ola platform.

This unique alliance, which brings together two of India’s most prominent brands, seeks to encourage micro-entrepreneurship amongst drivers, to address India’s growing mobility needs. Mahindra and Ola will also explore other areas of joint collaboration to build the next generation of mobility solutions including those for unique transportation use cases.

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.

Mahindra & Mahindra Share Price

3199.35 -22.00 (-0.68%)
17-Apr-2026 16:59 View Price Chart
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