The Indian equity indices opened in green on Wednesday, ahead of the RBI MPC meet outcome. The NSE Nifty 50 rose 66.85 points or 0.38% to start at 17,788.35 while the BSE Sensex climbed 220.75 points or 0.37% to begin at 60,506.79 levels.
As markets remain in green, here are 2 Mahindra group stocks that have reached a 52-week high on Wednesday’s trading session:
Mahindra CIE Automotive Limited
The shares of Mahindra CIE Automotive opened higher on Wednesday to jump further and reached a 52-week high of Rs 419.70 in the early hours. In the past month, the shares of the company have gained 19 percent.
The scrip is gaining ahead of the board meeting that is scheduled on Wednesday, February 22nd, 2023 to consider and approve the audited Financial Results of the Company and recommend dividends, if any. In Q2FY23, the company reported a total revenue of Rs 2,723.15 Crore and a net profit of Rs 171.07 Crore.
Mahindra CIE Automotive is a subsidiary of the CIE Automotive group of Spain. The Mahindra group, a promoter entity, holds a 9.25 percent stake. It is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers in India and overseas.
Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services saw its share price open at Rs 266 levels on Wednesday only to gain further and reach a 52-week high of Rs 270.25 in the early hours.
The stock has gained approximately 13 percent in the last five days after the company posted strong quarterly earnings. In Q3FY23, the company posted a total revenue of Rs 3,323.77 Crore and a net profit of Rs 657.03 Crore.
Mahindra & Mahindra Financial Services Limited, part of the Mahindra Group, is an Indian rural non-banking financial company engaged in the business of financing the purchase of new and pre-owned auto and utility vehicles, tractors, cars, commercial vehicles, construction equipment, and SME Financing.
Written by Anoushka Roy
