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M&M gains on entering into licencing agreement with Dewulf group

  • Nov-14-2017
  • 13 Hrs IST

Mahindra & Mahindra is currently trading at Rs. 1422.85, up by 11.80 points or 0.84% from its previous closing of Rs. 1411.05 on the BSE.

The scrip opened at Rs. 1424.00 and has touched a high and low of Rs. 1426.00 and Rs. 1416.35 respectively. So far 31758 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1459.50 on 12-Jun-2017 and a 52 week low of Rs. 1141.80 on 02-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1430.95 and Rs. 1340.10 respectively. The current market cap of the company is Rs. 88366.13 crore.

The promoters holding in the company stood at 26.69%, while Institutions and Non-Institutions held 57.20% and 16.11% respectively.

Mahindra & Mahindra (M&M) has entered into a licencing agreement with the Dewulf group for manufacture and marketing of potato planting equipment in India. Under the aegis of this agreement, Mahindra will work with the Dewulf Group to bring its potato planting technology to the Indian market.

The potato planter, co-branded, Mahindra and Dewulf, will enable the Indian potato farmer to perform even and precise planting, thereby leading to higher yield, reduction in cost and improved quality of output.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.