Mahindra & Mahindra Ltd.

Mahindra & Mahindra is currently trading at Rs. 619.15, up by 5.95 points or 0.97% from its previous closing of Rs. 613.20 on the BSE.

The scrip opened at Rs. 622.50 and has touched a high and low of Rs. 622.50 and Rs. 616.25 respectively.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 648.55 on 12-Aug-2020 and a 52 week low of Rs. 245.80 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 625.25 and Rs. 601.05 respectively. The current market cap of the company is Rs. 76232.57 crore.

The promoters holding in the company stood at 19.60%, while Institutions and Non-Institutions held 63.95% and 16.20% respectively.

Mahindra & Mahindra (M&M) has signed a memorandum of understanding (MoU) with REE Automotive to explore development and manufacturing of electric commercial vehicles for global markets. Such a strategic collaboration will leverage REE’s revolutionary electric vehicle corner module and platform technology of integrating powertrain, suspension and steering components in the arch of a vehicle wheel. This coupled with Mahindra’s well-established vehicle design, engineering, sourcing capability and manufacturing assets, is set to be a win-win strategic partnership for both companies.

The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market. REE’s architecture will enhance Mahindra’s capabilities in the electric vehicle sector. REE will leverage Mahindra’s global presence and its unique volume flexibility capability as well as its engineering and product development expertise.

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.