Mahindra & Mahindra rises on inking agreement to acquire stake in Sampo Rosenlew Oy

Mahindra & Mahindra is currently trading at Rs. 1176.40, up by 13.35 points or 1.15% from its previous closing of Rs. 1163.05 on the BSE.

Mahindra Mahindra
Mahindra Mahindra

The scrip opened at Rs. 1160.00 and has touched a high and low of Rs. 1177.80 and Rs. 1160.00 respectively. So far 10389 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1191.90 on 08-Jul-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. 1178.90 and Rs. 1132.35 respectively. The current market cap of the company is Rs. 144589.51 crore.

The promoters holding in the company stood at 19.47%, while Institutions and Non-Institutions held 66.15% and 14.37% respectively.

Mahindra & Mahindra (M&M) has executed an Option Exercise Share Purchase Agreement to acquire 1,317 equity shares of Sampo Rosenlew Oy, Finland, a subsidiary of the Company (Sampo) pursuant to exercise of a call option by the company on the other shareholder of Sampo. Pursuant to the said transaction, the shareholding and consequent voting rights of the company in Sampo would increase from 79.13% to 100% of the equity share capital of Sampo. Consequently, Sampo would become a wholly owned subsidiary of the company.

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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