{"id":94882,"date":"2023-03-13T16:10:00","date_gmt":"2023-03-13T10:40:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=94882"},"modified":"2023-03-13T17:15:50","modified_gmt":"2023-03-13T11:45:50","slug":"automobile-stock-tanks-8-as-promoters-plan-to-sell-stake-via-block-deal","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/automobile-stock-tanks-8-as-promoters-plan-to-sell-stake-via-block-deal\/","title":{"rendered":"Automobile stock falls 8% as promoters plan to sell stake via Block Deal\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3218754666\"><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>According to a CNBC report, Mahindra &amp; Mahindra Limited (M&amp;M), an Indian multinational automotive manufacturing corporation that holds a 9.25% stake in Mahindra CIE announced that it is planning to sell its stake.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2733155210\"><!-- 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>The company announced that it will offload a 6.5% stake in Mahindra CIE via block deals on Monday. The deal size is said to be worth Rs 892.6 crore with the exchange of shares at an average price of Rs 365 per share.&nbsp;<\/p><p>On the news, the shares of M&amp;M shed approximately 3 percent on Monday and ended the session at Rs 1,192 levels. While the shares of Mahindra CIE Automotive crashed by 7.7 percent and closed at Rs 363 levels around the same time.&nbsp;<\/p><p>Mahindra CIE Automotive Ltd is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers in India and overseas.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-509926532\"><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>M&amp;M Ltd is one of the most diversified automobile companies in India with a presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors &amp; earthmovers. The group has a presence across 22 industries and 100+ countries and operates 150+ entities on a consolidated basis.&nbsp;<\/p><p>Through its subsidiaries and group companies, the company has a presence across financial services, auto components, hospitality, infrastructure, retail, logistics, etc.&nbsp;<\/p><p>Looking into the financials of Mahindra CIE Automotive Ltd, the revenues have decreased from Rs 2,723.15 crores in Q2 v\/s Rs 2,246.84 crores in Q3. On a contrasting note, the net profit has shown a rise from Rs 171 crores in Q2 v\/s Rs 194.4 crores in Q3.&nbsp;<\/p><p>The profitability ratios of the company have shown improvements with ROE moving from 2.24 percent in FY20-21 v\/s 7.76 percent in FY 21-22. ROCE moved from 3.95 percent in FY20-21 v\/s 11 percent in FY 21-22.&nbsp;<\/p><p>In the latest quarter, the promoters hold 74.96 percent stakeholdings in the company. FII\u2019s have marginally increased their stake representing their current holdings of 7.29 percent in the company.&nbsp;<\/p><p><strong>Written by Amit Madnani<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-168935376\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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><div class=\"trade-after-content\" id=\"trade-1591853661\"><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>According to a CNBC report, Mahindra &amp; Mahindra Limited (M&amp;M), an Indian multinational automotive manufacturing corporation that holds a 9.25% stake in Mahindra CIE announced that it is planning to sell its stake.&nbsp; The company announced that it will offload a 6.5% stake in Mahindra CIE via block deals on Monday. The deal size is [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19375,"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":[4865,31],"tags":[],"class_list":["post-94882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"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>Automobile stock falls 8% as promoters plan to sell stake via Block Deal\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"It is one of the most diversified automobile companies in India with a presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors &amp; earthmovers. 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