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 July 24, 2014, Mahindra and Mahindra closed at Rs 1200.65, up Rs 7.70, or 0.65 percent. The 52-week high of the share was Rs 1268.75 and the 52-week low was Rs 741.50.
The company's trailing 12-month (TTM) EPS was at Rs 61.02 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 19.68. The latest book value of the company is Rs 272.84 per share. At current value, the price-to-book value of the company is 4.40.
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