There was a huge fall in the shares of Mahindra & Mahindra
Mahindra & Mahindra: Shares of Mahindra & Mahindra fell heavily. Shares of Mahindra & Mahindra fell 3 percent to Rs. Was trading at 1584.
Now a new kind of war has started between India and Canada. It seems that Anand Mahindra has also jumped into it. This is the reason why Mahindra & Mahindra has given a big blow to Canada and closed the operations of its company on Thursday. Mahindra & Mahindra said in a statement on Thursday that its Canada-based subsidiary Rayson Aerospace Corporation has ceased operations. Mahindra & Mahindra holds 11.18 per cent stake in the company, which had applied for voluntary closure of operations. After this decision, there has been a big fall in the shares of Mahindra & Mahindra.
A statement from M&M’s
Mahindra & Mahindra said in a stock exchange disclosure that Race has received the necessary documents from Corporations Canada for approval to cease operations on September 20, 2023, the same has been communicated to the company. The company said that after this Rezon ceased its operations. He is no longer an associate of the company with effect from 20 September 2023.
Big fall in company’s shares
After this news, there was a big fall in the shares of Mahindra & Mahindra. Shares of Mahindra & Mahindra fell 3 percent to Rs. Was trading at 1584. However, the company’s shares fell by three and a half per cent during the trading session and touched the day’s low of Rs. Reached 1575.75. Whereas a day earlier the shares of the company were at Rs. Closed at 1634.05.
Big loss to Mahindra & Mahindra
Due to fall in the shares of the company, the valuation of the company has become Rs 1.5 crore. A deficit of more than Rs 7200 crore has been recorded. According to the information, a day ago the company’s share was at Rs 100. 1634.05 and the market cap of the company is Rs. 2,03,025.78 crore. Whereas today when the company’s shares are priced at Rs. Whereas the market cap of the company was Rs 1575.75. 1,95,782.18 crore. In such a situation, the valuation of the company is Rs. There has been a loss of Rs 7,243.6 crore.
