M&M board approves sale of Mahindra Logistics stakes via IPO
The size of the stake sale, price and other details of the IPO will be determined in the due course by a committee of directors, it added.
The stock was trading at Rs 1,412 per share lower by Rs 5 per share or 0.3% at 0957 hours. The stock on the NSE has delivered 4.5% returns in a period one year and has underperformed the BSE Sensex and BSE Auto indices over the same time span.
Mahindra & Mahindra Limited is engaged in the manufacture of passenger cars, commercial vehicles and tractors. The company's segments include automotive, which is engaged in the sale of automobiles, spare parts and related services.
Mahindra & Mahindra Ltd is currently trading at Rs 1415.5, down by Rs 1.85 or 0.13% from its previous closing of Rs 1417.35 on the BSE.
The scrip opened at Rs 1425 and has touched a high and low of Rs 1433.65 and Rs 1407.05 respectively. So far 271440(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 88030.53 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1508.8 on 09-Aug-2016 and a 52 week low of Rs 1141.8 on 02-Dec-2016. Last one week high and low of the scrip stood at Rs 1459.5 and Rs 1411 respectively.
The promoters holding in the company stood at 25.27 % while Institutions and Non-Institutions held 54.61 % and 14.83 % respectively.
The stock is currently trading above its 50 DMA.
Mahindra & Mahindra Ltd
BSE 1,417.05 [0.30] ([0.02]%)
NSE 1,415.05 [2.60] ([0.18]%)