Mahindra & Mahindra surges on BSE

Mahindra & Mahindra is currently trading at Rs. 995.00, up by 19.65 points or 2.01 % from its previous closing of Rs. 975.35 on the BSE. The scrip opened at Rs. 978.00 and has touched a high and low of Rs. 997.70 and Rs. 978.00 respectively. So far 22745 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1054.00 on 18-Mar-2014 and a 52 week low of Rs. 741.50 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 1026.00 and Rs. 964.70 respectively. The current market cap of the company is Rs. 61142.72 crore. The promoters holding in the company stood at 25.29 % while Institutions and Non-Institutions held 52.80 % and 16.92 % respectively. Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Mahindra & Mahindra’s long term bank facilities worth Rs 178.28 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 71.72 crore. The company has received the said ratings on the back of its experience promoters and management and dominant position in the Utility Vehicle (UV) and Farm equipment (FE) segments, its established brand image, diversified product portfolio, strong dealer and after-sales service network and its global presence. Mahindra & Mahindra (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.