Feb 14, 2013, 10.37 PM | Source: Reuters
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.
M&M stock price
On June 24, 2016, Mahindra and Mahindra closed at Rs 1377.00, up Rs 2.65, or 0.19 percent. The 52-week high of the share was Rs 1441.45 and the 52-week low was Rs 1092.00.
The company's trailing 12-month (TTM) EPS was at Rs 51.00 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 27. The latest book value of the company is Rs 361.08 per share. At current value, the price-to-book value of the company is 3.81.
Ashwani Gujral of ashwanigujral.com is of the view
Nalin Mehta, MD & CEO, Mahindra Truck & Bus Divisi
Chandan Taparia of Anand Rathi Securities is of th
The Mahindra Group is not looking at buying stake
Way2Wealth is bullish on M&M has recommended accum
Stocks likely to be in the limelight are: DLF, GMR