M&M gains on opening fourth tractor assembly facility in US

M&M is currently trading at Rs. 762.80, up by 0.30 points or 0.04% from its previous closing of Rs. 762.50 on the BSE.

The scrip opened at Rs. 763.45 and has touched a high and low of Rs. 767.00 and Rs. 762.00 respectively. So far 7714 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 874.75 on 28-Oct-2011 and a 52 week low of Rs. 621.75 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 774.50 and Rs. 742.50 respectively. The current market cap of the company is Rs. 46892.78 crore.

The promoters holding in the company stood at 25.45% while Institutions and Non-Institutions held 47.55% and 21.26% respectively.

Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, has opened its fourth tractor assembly facility in the US through its authorized distribution centre in Bloomsburg. The said new facility has got an installed monthly capacity of 500 units and will provide support and service to M&M’s northeast US and eastern Canadian dealers and partners.

The Mahindra Authorized Distribution Center in Bloomsburg will specialize in the company’s new products -- the Max series and compact tractors -- both of which were developed primarily for the US market.

Besides, the new facility will be operated in partnership with TPC Power Center which will create a positive impact on the Bloomsburg and surrounding area’s economy.