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 November 24, 2015, Mahindra and Mahindra closed at Rs 1317.95, down Rs 4.65, or 0.35 percent. The 52-week high of the share was Rs 1441.45 and the 52-week low was Rs 1095.00.
The company's trailing 12-month (TTM) EPS was at Rs 52.62 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 25.05. The latest book value of the company is Rs 310.09 per share. At current value, the price-to-book value of the company is 4.25.
Set email alert for
ADS BY GOOGLE
video of the day
Nifty to fall below 7500 if Q3 disappoints; GST key: Kumar