Mahindra & Mahindra inches up on inking MoU with NXP Semiconductors

Mahindra & Mahindra is currently trading at Rs. 1547.05, up by 0.55 points or 0.04% from its previous closing of Rs. 1546.50 on the BSE.

The scrip opened at Rs. 1550.05 and has touched a high and low of Rs. 1558.00 and Rs. 1546.00 respectively. So far 2624 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1594.85 on 13-Jul-2023 and a 52 week low of Rs. 1124.00 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1594.85 and Rs. 1541.75 respectively. The current market cap of the company is Rs. 192311.73 crore.

The promoters holding in the company stood at 19.37%, while Institutions and Non-Institutions held 66.96% and 13.66% respectively.

Mahindra & Mahindra (M&M) has signed a memorandum of understanding (MoU) with NXP Semiconductors, a world leader in secure connectivity solutions for embedded applications. With the association, M&M and NXP will jointly explore the electric and connected vehicle landscape, covering a wide range of vehicles including utility vehicles, light commercial vehicles, farm equipment, and tractors.

Mahindra intends to explore NXP’s extensive portfolio, innovative automotive system solutions and expertise in zonal and domain controllers, electrification, advanced vehicle networks and secure car access technologies for their upcoming platforms. The step is in line with Mahindra’s commitment to deliver innovative solutions that enhance the safety, eco-friendliness, and overall enjoyment of the commuting experience for its customers.

Mahindra will also get access to NXP’s robust partner ecosystem, comprising Tier 1, ODM, IDH, module vendors, and integrators. This will also provide valuable insights into NXP’s technology roadmap, encompassing synergistic areas like the Smart Home and Industrial sectors.

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.

Check Also

Indian Hume Pipe Company shines on receiving Letter of Award worth Rs 639.16 crore

Indian Hume Pipe Company is currently trading at Rs. 287.70, up by 15.90 points or …

Leave a Reply

Your email address will not be published. Required fields are marked *