M&M gains as its arm incorporates subsidiary company in Nigeria

M&M is currently trading at Rs. 1306.50, up by 10.25 points or 0.79% from its previous closing of Rs. 1296.25 on the BSE.

The scrip opened at Rs. 1297.10 and has touched a high and low of Rs. 1315.00 and Rs. 1297.10 respectively. So far 12,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1441.45 on 07-Aug-2015 and a 52 week low of Rs. 1092.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1328.00 and Rs. 1261.05 respectively. The current market cap of the company is Rs. 81,145.00 crore.

The promoters holding in the company stood at 25.44% while Institutions and Non-Institutions held 55.47% and 13.53% respectively.

Mahindra & Mahindra’s (M&M) subsidiary ‘Mahindra & Mahindra South Africa’ has incorporated a subsidiary company ‘Mahindra West Africa’ in Nigeria, on May 20, 2016. Mahindra West Africa is incorporated as a subsidiary (99.99%) of Mahindra & Mahindra South Africa, which in turn is a 100% subsidiary of Mahindra & Mahindra.

Mahindra West Africa has been incorporated to promote Mahindra Brand and expand its reach into West Africa Region for its various businesses like Auto, Tractors (including Implements), 3 & 2 Wheelers, Genset, Construction equipment, Truck & Buses & Agri.

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.