At 1158 hrs, Mahindra & Mahindra Financial Services was quoting Rs 433.05, up 1.89 percent on the BSE.
Moneycontrol News
@moneycontrolcom
Shares of Mahindra & Mahindra Financial Services rallied almost 2 percent intraday on March 28 after the company acquired a further 9.68 percent stake in subsidiary Mahindra Rural Housing Finance (MRHFL) from National Housing Bank (NHB).
The company in its BSE release said that the board approved acquisition of 1,18,91,511 equity shares of MRHFL, aggregating to Rs 286.78 crore from NHB.
Consequently, the shareholding of the company in MRHFL will increase from 88.75 percent to 98.43 percent as and when the shares are acquired.
First Published on Mar 28, 2019 12:27 pm
