Stock Market Today: Mahindra & Mahindra share price declined more than 6% in morning trade on Friday, resuming its selling streak after a one-day hiatus. The decline follows the company’s announcement to join a ₹4500 crore rights issue for subsidiaries Mahindra & Mahindra Financial Services and Mahindra Lifespace Developers, coupled with reports of potential government moves to reduce import duties on EVs, increasing competition from foreign players in India.
Mahindra & Mahindra share price movement
Mahindra & Mahindra share price opened at ₹2,820 on the BSE on Friday, slightly lower than the previous closing price of ₹2840. Mahindra & Mahindra share price, however, slipped further to intraday lows of ₹2653.25, marking a decline of more than 6% during the intraday trade on Friday.
Mahindra & Mahindra share price has been correcting from its one-year high or 52-week high of ₹3276.30 seen in February 2025 amid a sharp correction in the markets.
M&M rights issue announcements and investment plans
Mahindra & Mahindra on February 20 post market hours announced plans of investment in the proposed rights issue of Mahindra & Mahindra Financial Services and Mahindra Lifespace Developers, listed subsidiaries of the company.
Mahindra & Mahindra on February 13, 2025, announced that the Board of Directors of Mahindra & Mahindra Financial Services, a listed subsidiary of the company, has approved fundraising for an amount not exceeding ₹3,000 crore through a rights issue of equity shares. Further, it added that the Board of Directors of Mahindra Lifespace Developers, a listed subsidiary of the company, has also given a go-ahead for raising an amount not exceeding ₹1,500 crore through the rights issue of equity shares.
Mahindra and Mahindra in its release yesterday announced that the Board of Directors of the Company at its Meeting has accorded its approval to subscribe to the equity shares of Mahindra & Mahindra Financial Service and Mahindra Lifespace Developers to the full extent of the Company’s Rights Entitlement and to subscribe to additional shares as well as to any unsubscribed portion of the rights issue(s) up to the total issue size.
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