Markets likely to witness lacklustre trade; eyes RBI’s monetary policy
April 07, 2021
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Stocks to watch out for today: Barbeque-Nation, RIL, Cholamandalam Investment, Axis Bank, M&M and Concord Drugs Markets are likely to witness another lacklustre trading on Wednesday, even as the Reserve Bank will unveil its monetary policy in the afternoon. However, global stocks continue to unsupportive of bulls, with the US and some Asian markets being listless.
SGX Nifty at 14,760 (8 am IST) indicates a flat opening, as Nifty futures on Tuesday closed at 14,750. While Dow Jones, Nasdaq and S&P 500 closed marginally lower overnight, Asian markets such as Japan s Nikkei, China s Shanghai, Australia s ASX and Korea s Kospi were little changed in the morning.
M&M arm forms subsidiary for solar business
Posted On: 2021-04-06 10:20:01 (Time Zone: Arizona, USA)
Mahindra Solarize Private Limited is incorporated in Mumbai, Maharashtra on April 06, 2021 as a wholly owned subsidiary of Mahindra Susten Private Limited, which is a wholly owned subsidiary of Mahindra Holdings Limited, which is a wholly owned subsidiary of Mahindra & Mahindra Ltd.
MSPL has incorporated Mahindra Solarize Private Limited to mainly undertake business for Distributed Energy including rooftop solar installation for commercial, industrial, institutional and residential segment, solar water pump and other Renewable Energy industry based products including Engineering Procurement & Construction (EPC).
Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.781.2 as compared to the previous close of Rs. 774.35. The total number of shares traded during the day was 87791 in over 2694 trades.
M&M sells Mahindra First Choice Services for ₹21.5 cr to TVS
February 25, 2021
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Mahindra Holdings Ltd, a wholly owned subsidiary of Mahindra & Mahindra, on Thursday said that it has sold its entire stake in Mahindra First Choice Services (MFCS) for ₹21.5 crore, as well as its entire stake in MFCS’ subsidiary, Auto Digitech Private Limited, for ₹13.5 crore, to TVS Automobile Solutions Private Limited.
MFCS is involved in the business of servicing multi-brand car and two-wheelers.
Mahindra Holdings had on November 26, 2020, agreed to sell its entire stake aggregating 100 per cent of the paid-up equity share capital in MFCS, as well as its entire stake aggregating 100 per cent of optionally convertible redeemable preference shares in ADPL to Chennai-based TVS Automobile Solutions Private Ltd.
Mahindra Holdings, a wholly-owned subsidiary of Mahindra and Mahindra has concluded the sale of its 100 per cent stake in Mahindra First Choice Services (MFCS) to TVS Automobile Solutions, the company said in a stock exchange notification. It has sold the residual stake in the services arm of the used car business for a consideration of Rs 21.5 crore. It has also sold its entire stake aggregating 100 per cent of optionally convertible redeemable preference shares in Auto Digitech, a wholly-owned subsidiary of Mahindra Holdings for a cash consideration of Rs 13.5 crore to TVS. As a result, MFCS and Auto Digitech have ceased to be subsidiaries of Mahindra Holding and of the company with effect from 25 February 2021, it said.
Mahindra & Mahindra announced that its wholly owned subsidiary, Mahindra Holdings has concluded the sale of its 100% stake in Mahindra First Choice Services for a consideration of Rs 21.5 crore and its entire stake aggregating 100%
of Optionally Convertible Redeemable Preference Shares in Auto Digitech, wholly owned subsidiary of Mahindra Holdings for a cash consideration of Rs 13.5 crore to TVS Automobile Solutions.
Consequently, Mahindra First Choice Services and Auto Digitech have ceased to be subsidiaries of Mahindra Holding and of the company with effect from 25 February 2021.
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