Mahindra & Mahindra inches up on completing acquisition of balance 12.61% stake in MWTESL

Mahindra & Mahindra is currently trading at Rs. 1253.00, up by 3.70 points or 0.30% from its previous closing of Rs. 1249.30 on the BSE.

tech mahindra to acquire thirdware solutions
Mahindra & Mahindra

The scrip opened at Rs. 1250.00 and has touched a high and low of Rs. 1257.00 and Rs. 1242.75 respectively. So far 6927 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1366.30 on 01-Nov-2022 and a 52 week low of Rs. 671.00 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 1268.00 and Rs. 1206.05 respectively. The current market cap of the company is Rs. 155772.03 crore.

The promoters holding in the company stood at 19.38%, while Institutions and Non-Institutions held 66.84% and 13.73% respectively.

Mahindra & Mahindra (M&M) has completed acquisition of the balance 12.61% stake in Mahindra Waste To Energy Solutions (MWTESL) from present and ex-employees of the company and as on date, the company holds 100% of the paid-up Equity Share Capital of MWTESL. Total acquisition cost is upto Rs 3.5 crore (upto 37,84,158 equity shares at a price not exceeding Rs 9.24per equity share). MWTESL is engaged in conversion of municipal waste to bio-CNG through bio-methanation.

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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