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05-Jun2017

M&M catches speed on its arm entering into pre-owned two-wheeler segment

Mahindra & Mahindra (M&M) is currently trading at Rs. 1427.30, up by 8.85 points or 0.62 % from its previous closing of Rs. 1418.45 on the BSE.

The scrip opened at Rs. 1425.00 and has touched a high and low of Rs. 1433.00 and Rs. 1421.05 respectively. So far 13205 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1508.80 on 09-Aug-2016 and a 52 week low of Rs. 1141.80 on 02-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1449.00 and Rs. 1329.45 respectively. The current market cap of the company is Rs. 88771.52 crore.

The promoters holding in the company stood at 26.69%, while institutions and non-institutions held 57.66% and 15.66% respectively.

Mahindra First Choice Wheels (MFCWL), a subsidiary of M&M has entered the two-wheeler segment and plans to open 50 outlets by the end of this fiscal. Unlike any other used two-wheeler business, the company will focus only on 250cc and above two-wheelers, such as Honda, Enfield and Harley Davidson products.

The company has opened the first showroom at Wazirpur Industrial Area in New Delhi, and two more outlets are soon expected in Mumbai and Bengaluru.

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.


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