Mahindra & Mahindra will raise its holding in Ssangyong Motor Co to 72.85 percent in a 80 billion Korean won investment, the South Korean carmaker said in a statement on Thursday.
Mahindra & Mahindra
Mahindra, India's biggest sports utility vehicle manufacturer, will subscribe to preferential shares issued by Ssangyong to facilitate new product development and strengthen the South Korean company's financials.
The payment is expected to be made on May 22.
Mahindra, the flagship company of the USD 15.9 billion Mahindra Group, bought a controlling stake in the carmaker in March 2011.
M&M stock price
On March 27, 2015, Mahindra and Mahindra closed at Rs 1186.20, down Rs 17.15, or 1.43 percent. The 52-week high of the share was Rs 1421.00 and the 52-week low was Rs 955.20.
The company's trailing 12-month (TTM) EPS was at Rs 59.05 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 20.09. The latest book value of the company is Rs 270.60 per share. At current value, the price-to-book value of the company is 4.38.
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