Nifty Weekly Range For The Week 17th June To
21st June 5668 -- 5950 ! Either Side Sustaining Will Give 90 Points More, Low
5770.75, High 5863.40, Closed 5850.05 ! |
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Stock With
Volumes : |
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Volumes
jump at Ahmednagar Forgings counter, Persistent Systems, Petronet LNG, HT
Media and Mahindra Forgings are among the other stocks to see a surge in
volumes on BSE today, 18 June 2013. |
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Ahmednagar
Forgings clocked volume of 7.38 lakh shares by 12:54 IST on BSE, a 7.88-times
surge over two-week average daily volume of 94,000 shares. The stock fell
0.47% to Rs 106. |
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Persistent
Systems notched up volume of 1.01 lakh shares, a 7.73-fold surge over
two-week average daily volume of 13,000 shares. The stock rose 0.46% to Rs
508. |
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Petronet
LNG saw volume of 5.20 lakh shares, a 5.30-fold surge over two-week average
daily volume of 98,000 shares. The stock rose 0.38% to Rs 131.05. |
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HT Media
clocked volume of 5.35 lakh shares, a 3.80-fold surge over two-week average
daily volume of 1.41 lakh shares. The stock rose 1.07% to Rs 99.50. |
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Mahindra
Forgings saw volume of 11.77 lakh shares, a 3.35-fold rise over two-week
average daily volume of 3.52 lakh shares. The stock rose 3.17% to Rs 68.40.
The Mahindra Group and CIE Automotive S. A. (Spain) on Saturday, 15 June
2013, announced the signing of a global alliance agreement between Mahindra's
automotive component businesses (held under its Systech Sector) and CIE
Automotive (involving also its subsidiary Autometal). The agreement will see
the formation of a global automotive component supply network with combined
annual sales of approximately Rs 15000 crore or $3 billion with operations in
North America, South America, Europe and Asia held through listed businesses
in Spain, Brazil and India. |
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As part of
the transaction, CIE Automotive, through one of its subsidiaries, will
acquire from Mahindra Group a stake in its listed and unlisted companies
belonging to Systech Automotive Component business and CIE Automotive will
contribute its forging businesses in Spain and Lithuania and together
consolidate all companies under Mahindra Forgings (MFL) which will be
rechristened Mahindra CIE. Mahindra CIE will continue to be listed on BSE
(Bombay Stock Exchange) and NSE (National Stock Exchange). |
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The share
sale by Mahindra group will trigger open-offer provisions under the
Securities Exchange Board of India (Substantial Acquisition of Shares and
Takeovers) Regulations 2011. The proposed business transaction will be
carried out in a series of steps over the next year that will culminate in
Mahindra & Mahindra (M&M) taking a stake of 13.5% in CIE Automotive
and CIE Automotive taking a majority stake in a single listed entity in India
which will continue to operate the current Systech automotive component
businesses globally and include CIE's European forgings operations. Post
acquisition of 13.5% stake, M&M will be second largest shareholder in
CIE. M&M will nominate 2 directors to the CIE board. |
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The
Mahindra Systech business consists of five companies viz. Mahindra Forgings,
Mahindra Ugine Steel Company, Mahindra Composites, Mahindra Hinoday
Industries and Mahindra Gears. |
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Note :
Kindly Trade With Stoploss ! |
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