Skip to content
Menu
AN AN

Automotive News

  • Automotive News
  • Used Cars
  • Automotive Deals
  • Automotive repair
  • Automotive Accessories
AN AN

Automotive News

Automobile stock falls 8% as promoters plan to sell stakes via Block Deal

By on March 17, 2023

According to a CNBC report, Mahindra & Mahindra Limited (M&M), an Indian multinational automotive manufacturing corporation that holds a 9.25% stake in Mahindra CIE announced that it is planning to sell its stake.

The company announced that it will offload a 6.5% stake in Mahindra CIE via block deals on Monday. The deal size is said to be worth Rs 892.6 crore with the exchange of shares at an average price of Rs 365 per share.

On the news, the shares of M&M lost about 3% on Monday and ended the session at Rs 1,192 levels. While the shares of Mahindra CIE Automotive (NS:) crashed by 7.7 percent and closed at Rs 363 levels around the same time.

Mahindra CIE Automotive Ltd is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers in India and overseas.

M&M Ltd is one of the most diversified automobile companies in India with a presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors & earthmovers. The group has a presence across 22 industries and 100+ countries and operates 150+ entities on a consolidated basis.

Through its subsidiaries and group companies, the company has a presence across financial services, auto components, hospitality, infrastructure, retail, logistics, etc.

Looking into the financials of Mahindra CIE Automotive Ltd, the revenues have decreased from Rs 2,723.15 crores in Q2 v/s Rs 2,246.84 crores in Q3. On a contrasting note, the net profit has shown a rise from Rs 171 crores in Q2 v/s Rs 194.4 crores in Q3.

The profitability ratios of the company have shown improvements with ROE moving from 2.24 percent in FY20-21 v/s 7.76 percent in FY 21-22. ROCE moved from 3.95 percent in FY20-21 v/s 11 percent in FY 21-22.

In the most recent quarter, the promoters hold 74.96 percent of the stakeholdings in the company. FII’s have marginally increased their stake representing their current holdings of 7.29 percent in the company.

Written by Amit Madnani

The post Automobile stock falls 8% as promoters plan to sell stake via Block Deal appeared first on Trade Brains.

Read More

Category: Automotive Deals
Tags: automotive deals, what time of year is best to buy a car?

Post navigation

This Company Wants to Change How We Buy and Sell Used Cars
These Automakers Can’t Quite Hold Onto Their First-Time Buyers

Related Posts

Chrysler Airflow EV May Not Be Built After All

May 22, 2023
Read More

Used-car prices rebound, making buying a challenge

June 28, 2023
Read More

Buy a New Electric Car Now or Wait?

March 21, 2023
Read More

Recent Posts

  • Travel + Leisure Archives
  • Online Costume Buying In Sri Lanka
  • Ecotour Car Accessories are on sale at Amazon
  • SPOTLIGHT: 15 questions with Corey Smith
  • Crisis Recovery – How Automotive Suppliers Can Get Back On The Road To Success

Tags

automotive automotive news canada automotive news china automotive news data center automotive news europe automotive news ford automotive news jobs automotive news logo automotive news magazine automotive news subscription automotive news subscription discount automotive news uk auto news now best new car incentives breaking auto news business buying car industry news car news websites china automotive news current automotive news education estate fashion headlines health house information jewellery jewelry latest latest automotive news latest news on automobile industry latest news on automotive industry newest news in the automotive industry online pictures south gate used car dealers sport technology top automotive news travel updates us automotive industry news

About Us

  • Contact Us
  • Disclosure Policy
  • Sitemap
Seedbacklink

Patner links

©2025 AN | WordPress Theme by Superb WordPress Themes

WhatsApp us