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16-May2018

M&M inches up with arm entering into agreement to form JVC

Mahindra & Mahindra (M&M) is currently trading at Rs. 851.35, up by 2.70 points or 0.32% from its previous closing of Rs. 848.65 on the BSE.

The scrip opened at Rs. 847.90 and has touched a high and low of Rs. 851.95 and Rs. 834.90 respectively. So far 30,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 887.95 on 07-May-2018 and a 52 week low of Rs. 612.50 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 875.00 and Rs. 834.90 respectively. The current market cap of the company is Rs. 1,05,547.00 crore.

The promoters holding in the company stood at 21.71%, while Institutions and Non-Institutions held 54.93% and 23.20% respectively.

Mahindra & Mahindra's (M&M) arm - EPC Industrie has entered into an agreement to form a Joint Venture Company (JVC) in India (NewCo) with Top Greenhouses, Israel to provide solutions for Protected Cultivation Technology Products and subscribe/acquire up to 60% of the Share Capital of the NewCo with the remaining 40% proposed to be held by Top.

The NewCo will be formed for the purpose of providing solutions to Protected Cultivation Technology Products in Agriculture. It will also strengthen the company's position in Agri technology.

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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