Mahindra CIE gains 2% on acquisition of Aurangabad Electricals

Shares of Mahindra CIE Automotive rallied nearly 2 percent intraday on April 10 after the company completed the acquisition of Aurangabad Electricals for Rs 830 crore.

The company in its BSE release said that it "has completed the acquisition of 100 percent issued and outstanding share capital of AEL from the respective shareholders and AEL has become a wholly owned subsidiary of the company."

The share touched its 52-week high of Rs 301.80 and 52-week low of Rs 208.95 on 9 September 2018 and 16 April 2018, respectively.

At 0925 hrs, Mahindra CIE Automotive was quoting Rs 227.10, up 1.82 percent on the BSE.