Mahindra CIE Automotive hits 52-week high after parent M&amp;M sells 3.2% stake in the firm

As per a report by CNBC-TV18, parent firm Mahindra &amp; Mahindra (M&amp;M) was going to sell a 3.2 percent stake, or 1.2 crore shares, in Mahindra CIE Automotive via a block deal. Post this transaction, M&amp;M has no stake in Mahindra CIE.

Mahindra CIE Automotive hits 52-week high after parent M&M sells 3.2% stake in the firm

Mahindra CIE Automotive scales over 4% to hit a 52-week high; here's why

Shares of Mahindra CIE Automotive surged during Tuesday's trade as the company invested in Clean Max Deneb Power for green energy sourcing. The investment aims to optimize power costs at the company's plants in Karnataka and Tamil Nadu. 

This Mahindra group stock is up by nearly 175% in the last nine months; ICICI Direct sees more upside

Mahindra CIE Automotive is engaged in the business of manufacturing and supplying engine and chassis-forged components for commercial and passenger vehicles. In the last one year, the stock soared 138%, outperforming the Nifty Auto Index by 119.21%, which gained 18.79% over the same time frame.

Five Mahindra Group stocks gained up to 67% in a year: Do you own any?

Mahindra CIE Automotive led the Mahindra group stocks with an almost 68% gain, followed by M&amp;M, an automotive manufacturing firm, which delivered a 50% return. Mahindra Holidays &amp; Resorts was another big mover in the last one year, the stock has returned nearly 43%.

Axis Bank, Apollo Tyres and 3 other stocks hit their all-time highs last week

Shares of Apollo Tyres have reached their all-time high of ₹340 apiece in Friday's trade. The stock has been on a bull run for last 10 consecutive trading sessions. Axis Bank was very next on the list, the stock reached its lifetime high of ₹970 apiece on January 03.

Mahindra CIE Automotive: This stock has soared 90% from May lows; Is there more steam left?

In its latest report, ICICI Direct Research keeps its buy rating on Mahindra CIE Automotive with a revised target price of ₹410 apiece from an earlier price of ₹380, which reflects an upside potential of 28.16% from the stock's previous closing price.

Mahindra CIE Automotive climbs 6.5% on plans to acquire 27% stake in Strongsun Solar

The stock has shown a growth of nearly 50 percent in the last six months. In the past one year, it has given a positive return of over 25 percent.

Top Mahindra Cie Automotive News

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Mahindra CIE Automotive hits 52-week high after parent M&M sells 3.2% stake in the firm

markets

Mahindra CIE Automotive scales over 4% to hit a 52-week high; here's why

markets

This Mahindra group stock is up by nearly 175% in the last nine months; ICICI Direct sees more upside

markets

Five Mahindra Group stocks gained up to 67% in a year: Do you own any?