Feb 14, 2013, 10.37 PM IST | Source: Reuters

M&M to raise stake in Ssangyong unit to 73%

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.

M&M to raise stake in Ssangyong unit to 73%

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, 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.

Budget 2013-14: Reduce excise duty on cars to boost sales urges SIAM

M&M stock price

On April 23, 2014, Mahindra and Mahindra closed at Rs 1036.75, up Rs 12.45, or 1.22 percent. The 52-week high of the share was Rs 1054.00 and the 52-week low was Rs 741.50.


The company's trailing 12-month (TTM) EPS was at Rs 60.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.02. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 4.35.

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