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18-Aug2016

M&M surges on incorporating subsidiary company in Mexico

Mahindra & Mahindra (M&M) is currently trading at Rs. 1465.10, up by 15.25 points or 1.05% from its previous closing of Rs. 1449.85 on the BSE.

The scrip opened at Rs. 1449.85 and has touched a high and low of Rs. 1466.95 and Rs. 1449.85 respectively. So far 12752 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. 1092.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1477.00 and Rs. 1412.20 respectively. The current market cap of the company is Rs. 90791.28 crore.

The promoters holding in the company stood at 25.41%, while institutions and non-institutions held 55.73% and 13.65% respectively.

Mahindra & Mahindra (M&M) has incorporated subsidiary company in Mexico viz. Mahindra Mexico S. de. R.L. It was incorporated as a 99% subsidiary of Mahindra USA Inc, which in turn is a 100% subsidiary of M&M. Mahindra Mexico S. de. R.L. was incorporated to promote Mahindra Brand in Mexico and expand its reach into Mexico to promote higher HP tractors.

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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