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M&M gains on signing MoU with Telangana Government

10 Feb 2023 Evaluate

Mahindra & Mahindra is currently trading at Rs. 1381.00, up by 8.40 points or 0.61% from its previous closing of Rs. 1372.60 on the BSE.

The scrip opened at Rs. 1386.95 and has touched a high and low of Rs. 1387.00 and Rs. 1373.65 respectively. So far 14294 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1392.00 on 06-Feb-2023 and a 52 week low of Rs. 671.00 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 1392.00 and Rs. 1359.70 respectively. The current market cap of the company is Rs. 170976.27 crore.

The promoters holding in the company stood at 19.39%, while Institutions and Non-Institutions held 66.96% and 13.65% respectively.

Mahindra & Mahindra (M&M) has signed memorandum of understanding (MoU) with the Government of Telangana for its proposed expansion plans at its existing manufacturing facility at Zaheerabad Plant in Medak District. The proposed expansion would mainly be towards setting up of manufacturing facility including development and production of electric 3 and 4 wheelers pertaining to Last Mile Mobility business at the current plant situated at Zaheerabad.

The estimated investment for this proposed expansion is expected to be approximately Rs 1,000 crore to be made over a period of 8 years by the company or any of its group company. Considering the size of the proposed investment, it is expected to fall under the Mega Projects category under the EV Investment Policy of the Government of Telangana. The MoU provides for facilitation by the Government of Telangana supporting the company to obtain necessary approvals for the proposed expansion.

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

3199.35 -22.00 (-0.68%)
17-Apr-2026 16:59 View Price Chart
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