Mahindra Logistics gains on getting nod to incorporate new wholly owned subsidiaries

Mahindra Logistics is currently trading at Rs. 488.85, up by 2.50 points or 0.51% from its previous closing of Rs. 486.35 on the BSE.

The scrip opened at Rs. 489.45 and has touched a high and low of Rs. 495.00 and Rs. 486.30 respectively. So far 363 shares were traded on the counter.

Mahindra Logistics
Mahindra Logistics

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 819.15 on 30-Aug-2021 and a 52 week low of Rs. 395.65 on 28-Feb-2022.

Last one week high and low of the scrip stood at Rs. 499.00 and Rs. 473.00 respectively. The current market cap of the company is Rs. 3526.56 crore.

The promoters holding in the company stood at 58.12%, while Institutions and Non-Institutions held 33.57% and 8.31% respectively.

Mahindra Logistics has received approval for incorporation of new wholly owned subsidiaries of the Company, one each in India namely ‘V-Link Freight Services’ and in United Kingdom namely ‘MLL Global Logistics’. This in line with the Company’s vision to further address growth opportunities in logistics and will also establish international presence. Post initial investment by the company, the new companies will become wholly owned subsidiaries of the company.

Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.

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