M&M incorporates a new JV
Shital Jibhe / 17 Dec 2016
Mahindra & Mahindra, India’s leading automotive company is in the news for its latest joint venture. The prices for M&M shares, currently trading at Rs 1177 per share , have come down by almost 3.39 per cent over a one year time frame, thus indicating underperformance when compared to the broader market.
Mahindra & Mahindra, India’s leading automotive company is in the news for its latest joint venture.
Mahindra & Mahindra Ltd., has informed BSE that Mahindra Intertrade Limited ("MIL"), a wholly owned subsidiary of Mahindra Vehicle Manufacturers Limited ("MVML"), which in turn is a wholly owned subsidiary of the Company (Mahindra & Mahindra Ltd.), has on December 16, 2016, incorporated a Joint Venture Company named Mahindra MSTC Recycling Private Limited ("Mahindra MSTC") with MSTC Ltd., a Government of India enterprise. Mahindra MSTC has become a 'subsidiary' of MIL and in turn of MVML and of the Company(M&M Ltd.) with effect from December 16, 2016.
The prices for M&M shares, currently trading at Rs 1177 per share , have come down by almost 3.39 per cent over a one year time frame, thus indicating underperformance when compared to the broader market. Over a one month time frame the stock is down by 4 per cent.
At current price the stock is trading below its 200 days simple moving average indicating weakness in the stock.
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