Mahindra CIE gains after Sundaram MF buys stake - The New Indian Express

Mahindra CIE gains after Sundaram MF buys stake

Published: 26th February 2014 12:19 PM

Last Updated: 26th February 2014 12:19 PM

Mahindra CIE Automotive, a forging company with plants located in Germany, United Kingdom and India,gained on Wednesday after Sundaram Mutual Fund picked 1.63% stake in the company on Tuesday for Rs 96.19 million.

It has bought 1.50 million shares under Sundaram Select Midcap at a price of Rs 64 on the NSE. Shares ofthe companyare trading at Rs 76.60, up Rs 0.95, or 1.26% at the Bombay Stock Exchange (BSE) on Wednesday at 11:24 a.m.The scrip has touched an intra-day high of Rs 79.95 and low of Rs 73. The total volume of shares traded at the BSE is 39,653.In the earlier session, the shares gained 15.14%, or Rs 9.95, at Rs 75.65. Currently, the stock is trading down 2.79% from its 52-week high of Rs 78.80 and above 115.77% over the 52-week low of Rs 35.50.

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