Mahindra & Mahindra Financial Services (Mahindra Finance) is currently trading at Rs. 315.65, up by 1.00 points or 0.32% from its previous closing of Rs. 314.65 on the BSE.
The scrip opened at Rs. 314.40 and has touched a high and low of Rs. 322.70 and Rs. 313.90 respectively. So far 52322 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 496.00 on 03-Sep-2018 and a 52 week low of Rs. 285.15 on 02-Aug-2019.
Last one week high and low of the scrip stood at Rs. 327.30 and Rs. 304.95 respectively. The current market cap of the company is Rs. 19598.59 crore.
The promoters holding in the company stood at 51.19%, while Institutions and Non-Institutions held 40.43% and 8.39% respectively.
Mahindra & Mahindra Financial Services has signed a 'Share Subscription, Share Purchase and Shareholders' Agreement' with Ideal Finance (Sri Lanka). The company has agreed to subscribe/acquire up to 58.20% of the Equity Share Capital of Ideal Finance, in one or more tranches, for an amount not exceeding Sri Lankan rupee 200.30 crore.
Upon acquisition of the above stake, Ideal Finance will become a subsidiary of the Company. The Company has received the requisite approval from the Reserve Bank of India, for the proposed investment in Ideal Finance.
Mahindra Finance one of India’s leading non-banking finance companies.
