Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / M&M to exit Swaraj Mazda by selling stake to Sumitomo
BackBack

M&M to exit Swaraj Mazda by selling stake to Sumitomo

M&M to exit Swaraj Mazda by selling stake to Sumitomo

Premium

New Delhi: Auto major Mahindra & Mahindra is understood to have decided to exit from commercial vehicle maker Swaraj Mazda by selling its stake to Japan’s Sumitomo Corporation.

According to sources close to the development, M&M is preparing to sell its 14.04% stake in Swaraj Mazda, it inherited after the acquisition of Punjab Tractors Ltd.

While details are being worked out, the sources said, the stake sale could be priced at around Rs292 per share.

M&M officials could not be contacted immediately for comments over the development.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 30 Dec 2008, 01:43 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie