Mahindra CIE Automotive soars on getting nod to acquire 100% stake in Aurangabad Electricals

12 Mar 2019 Evaluate

Mahindra CIE Automotive is currently trading at Rs. 245.00, up by 5.60 points or 2.34% from its previous closing of Rs. 239.40 on the BSE.

The scrip opened at Rs. 241.60 and has touched a high and low of Rs. 246.80 and Rs. 236.05 respectively. So far 11653 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 301.80 on 11-Sep-2018 and a 52 week low of Rs. 204.00 on 26-Mar-2018.

Last one week high and low of the scrip stood at Rs. 246.80 and Rs. 236.05 respectively. The current market cap of the company is Rs. 9081.36 crore.

The promoters holding in the company stood at 67.73%, while Institutions and Non-Institutions held 16.98% and 15.29% respectively.

Mahindra CIE Automotive has received approval for the acquisition of 100% of the issued and outstanding share capital of Aurangabad Electricals and authorized the signing of a share purchase agreement.

The acquisition is proposed to be completed on or prior to April 10, 2019. The Board of Directors of the company at its meeting held on March 12, 2019, approved the same.

Mahindra CIE Automotive is a multi-technology automotive components supplier listed on the stock exchanges in Mumbai.

CIE Automotive India Share Price

461.20 8.10 (1.79%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Bharat Forge 1135.00
CIE Automotive India 461.20
Ramkrishna Forgings 691.05
MM Forgings 882.85
Happy Forgings 897.00
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