Mahindra & Mahindra is currently trading at Rs. 646.75, up by 2.45 points or 0.38% from its previous closing of Rs. 644.30 on the BSE.
The scrip opened at Rs. 632.00 and has touched a high and low of Rs. 649.60 and Rs. 626.70 respectively. So far 79583 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 655.80 on 03-Sep-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. 655.80 and Rs. 602.15 respectively. The current market cap of the company is Rs. 80229.43 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 share purchase agreement for purchase of additional 1,825 equity shares, 4,480 seed compulsory convertible cumulative participating preference shares and 589 Series A compulsory convertible cumulative participating preference shares of Carnot Technologies from its existing shareholders through secondary purchase for a total of about Rs 9 crore. Moreover, the company said it has also inked a share subscription and shareholders agreement for subscription of 2,298 Series B compulsory convertible cumulative participating preference shares of Carnot through primary infusion of approximately Rs 3 crore. The consideration will be paid in cash.
The company holds about 6.48 percent of the equity share capital of Carnot, and post completion of the said transaction, it will hold approximately 15.60 percent. Carnot is expected to support company’s strategy by developing information technology solutions for its products, customers and businesses. The transaction is expected to be completed on or before September 30, 2020.
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.
