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M&M rises on receiving nod for sale of part of shareholding in MLL

14 Jun 2017 Evaluate

Mahindra & Mahindra (M&M) is currently trading at Rs. 1418.00, up by 0.65 points or 0.05% from its previous closing of Rs. 1417.35 on the BSE.

The scrip opened at Rs. 1425.00 and has touched a high and low of Rs. 1433.65 and Rs. 1418.90 respectively. So far 4,870 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. 1141.80 on 02-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1459.50 and Rs. 1411.00 respectively. The current market cap of the company is Rs. 88,105.00 crore.

The promoters holding in the company stood at 26.69%, while Institutions and Non-Institutions held 57.66% and 15.66% respectively.

M&M has received an approval for sale of a part of its shareholding in Mahindra Logistics (MLL), a subsidiary of the company, as part of the proposed Initial Public Offer (IPO) of MLL, subject to requisite approvals and market conditions.

The board of directors at its meeting held on June 13, 2017 has approved for the same. The size of the stake sale, price and other details of the IPO will be determined in due course by a Committee of Directors.

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

3329.50 -41.00 (-1.22%)
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