M&M rises on collaborating with LG Chem for Li-ion battery technology

27 Feb 2018 Evaluate

Mahindra & Mahindra (M&M) is currently trading at Rs. 737.85, up by 2.20 points or 0.30% from its previous closing of Rs. 735.65 on the BSE.

The scrip opened at Rs. 741.00 and has touched a high and low of Rs. 742.00 and Rs. 736.00 respectively. So far 8,334 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 802.80 on 01-Feb-2018 and a 52 week low of Rs. 612.50 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 742.00 and Rs. 700.15 respectively. The current market cap of the company is Rs. 91,629.00 crore.

The promoters holding in the company stood at 21.61%, while Institutions and Non-Institutions held 54.09% and 24.13% respectively.

Mahindra & Mahindra (M&M) and LG Chem, Korea’s leading manufacturer of advanced batteries have entered into collaboration in the field of advanced Li-ion battery technology.

Under the aegis of this collaboration, LG Chem will develop a unique cell exclusively for India application and will also supply Li-ion cells based on NMC (nickel-manganese-cobalt) chemistry with high energy density. These cells will be deployed in the Mahindra and SsangYong range of Electric Vehicles. LG Chem will also design the Li-ion battery modules for Mahindra Electric, which in turn will create battery packs for the Mahindra Group and other customers.

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

2524.85 -27.35 (-1.07%)
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