M&M, Atul Auto eye max stake in Scooters India
Atul Auto, Rajkot based company announced today to acquire 95% stake in Scooters India, while Mahindra & Mahindra said that they will explore the possibility and give the final decision in next 45 days.
Both the companies have taken the decision after the announcement of government to divest its entire stake in the sick firm.
On the BSE, Atul India shares were up 1.83% at Rs 131. In trading in has touched the high of Rs135 and low of Rs 129.50. On the other hand on BSE, M&M was up 0.64% at Rs 681. So far it had touched the high of Rs 685 and low of Rs 674.25 in trade.
On Friday government announced to get separated from the sick unit Scooters India completely which has caused the shares of Scooters India to stay at 5% upper circuit for the, second straight day on Friday. Shares of Scooters India at BSE were at Rs 40.30 up Rs 1.90 over the previous close.
Similar Posts:
- Mahindra appoints Kareena as brand ambassador for PowerScooter
- M&M to raise its stake in Tech Mahindra
- Cairn India-Vedanta deal to delay further
- State-run oil companies rally on fuel price hike
- HPCL gives orders to confidence petroleum
