{"id":64457,"date":"2022-09-21T14:33:00","date_gmt":"2022-09-21T09:03:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=64457"},"modified":"2022-09-21T14:31:05","modified_gmt":"2022-09-21T09:01:05","slug":"auto-stock-jumps-7-and-reaches-52-week-high-after-mm-plans-to-buy-stake-in-it","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/auto-stock-jumps-7-and-reaches-52-week-high-after-mm-plans-to-buy-stake-in-it\/","title":{"rendered":"Auto Stock jumps 7% and reaches 52-week high after M&#038;M plans to buy stake in it"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2396204455\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>In the early hours of trading on Wednesday, Swaraj Engines Limited&#8217;s shares, which had begun at Rs 1,820, soared by 7% to hit a new 52-week high of Rs 1,962. In a month the stock has surged by approximately 19 per cent.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1937969631\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>In June 2017, the stock reached an all-time high of Rs 2,545. It is currently trading 30% away from those levels.&nbsp;<\/p><p>The shares started to rally after auto giant Mahindra &amp; Mahindra (M&amp;M) agreed to buy a 17.41 per cent stake in the company from Kirloskar Industries. The company has proposed to acquire 21,14,349 equity shares at Rs 1,400 apiece taking the total deal value to Rs 296 crore.\u00a0<\/p><p>The acquisition will increase M&amp;M\u2019s share in the company to 52.13 per cent from 34.72 per cent, making it a majority investor.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-2926216290\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Swaraj Engines is in the business of manufacturing diesel engines and their components and is a major supplier to M&amp;M for its tractors division. It was promoted by erstwhile Punjab Tractors Limited ( since merged with Mahindra and Mahindra Ltd.) and Kirloskar Oil Engines Ltd. in 1985.&nbsp;<\/p><p>The company recorded total revenue of Rs 398 crores for Q1 FY23, a marginal rise from Rs 314 crores for the same period the previous year. Compared to the Rs 33 crores they made in Q1FY22, their net profit for the quarter was Rs 39 crores.&nbsp;<\/p><p>The company has a market capitalization of Rs 2,268 crores as of September 21st, 2022, and a high dividend yield of 4.29%. The TTM PE of Swaraj Engines is 19.67 compared to the sectoral PE of 34.88 which shows that the company is undervalued.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" id=\"h-written-by-anoushka-roy\"><p><strong>Written by Anoushka Roy<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-4162361662\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>In the early hours of trading on Wednesday, Swaraj Engines Limited&#8217;s shares, which had begun at Rs 1,820, soared by 7% to hit a new 52-week high of Rs 1,962. In a month the stock has surged by approximately 19 per cent.\u00a0 In June 2017, the stock reached an all-time high of Rs 2,545. It [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[2818,1407,3952,1024,3953,2660,3153,3157,3158,4925,4924,4926],"class_list":["post-64457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-mahindra-mahindra","tag-mahindra-and-mahindra-share","tag-mahindra-group","tag-mahindra-group-share-price","tag-mahindra-shares","tag-multibagger-stock","tag-stock-to-buy","tag-stock-to-watch","tag-stock-to-watch-in-2022","tag-swaraj-engines","tag-swaraj-engines-limited","tag-swaraj-engines-share-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Auto Stock jumps 7% and reaches 52-week high after M&amp;M plans to buy stake in it - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/auto-stock-jumps-7-and-reaches-52-week-high-after-mm-plans-to-buy-stake-in-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auto Stock jumps 7% and reaches 52-week high after M&amp;M plans to buy stake in it\" \/>\n<meta property=\"og:description\" content=\"In the early hours of trading on Wednesday, Swaraj Engines Limited&#8217;s shares, which had begun at Rs 1,820, soared by 7% to hit a new 52-week high of Rs 1,962. 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