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M&M rises as its affiliate auto maker gears up to market SsangYong products in SA

27 Apr 2012 Evaluate

Mahindra & Mahindra is currently trading at Rs. 715.40, up by 11.45 points or 1.63% from its previous closing of Rs. 703.95 on the BSE.

The scrip opened at Rs. 705.10 and has touched a high and low of Rs. 721.50 and Rs. 705.00 respectively. So far 37773 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 874.75 on 28-Oct-2011 and a 52 week low of Rs. 617.00 on 20-Jun-2011.

Last one week high and low of the scrip stood at Rs. 734.00 and Rs. 698.15 respectively. The current market cap of the company is Rs. 43923.76 crore.

The promoters holding in the company stood at 25.26% while Institutions and Non-Institutions held 47.21% and 21.95% respectively.

Mahindra and Mahindra’s (M&M) affiliate auto maker Mahindra South Africa (MSA), is likely to market SsangYong products in South Africa, the first country outside India, following acquisition of 70% stake in the Korean car maker last year.

MSA has strengthened its promotion of Ssangyong in the country with the release of two new models from the Korean manufacturer's stable -- Korando sports utility vehicle (SUV) and Actyon sports recreational vehicle (SRV). These two models are the upgraded versions of vehicles which have been available from Ssangyong in the South African market, but are now more competitively priced as well.

In the first year MSA has set a target of 1,500 sales for Ssangyong products, with steady growth expected over the next five years with the release of new models. Last year, the financially embattled Korean brand sold only about 500 vehicles in South Africa, which has representation from almost every brand in the world.

Mahindra & Mahindra Share Price

3199.35 -22.00 (-0.68%)
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