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Mahindra CIE Automotive Limited
Sector:Engineering Engineering - Forging/Casting
BSE:532756NSE:MAHINDCIEBloomberg:MFOL@INReuters:MAFR.BO
Market Lot: 1Face Value: 10ISIN Demat: INE536H01010
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07-Apr-2014
Business Profile
Mahindra Forgings (MAHFORG), incorporated under the name Mahindra Automotive Steels, was a non-operating company. Pursuant to a scheme of arrangement between Amforge Industries and Mahindra Automotive Steels, the entire Chakan unit of Amforge Industries as a going concern together with all the assets and liabilities relating to the Chakan unit was transferred to and vested in Mahindra Automotive Steels with effect from April 1, 2005. It is expected that the demerger will improve capacity utilization and productivity of the Chakan unit and shall enhance the synergies between the Chakan unit and Mahindra Forgings\' plans in the automotive component sector and the forging business. The Mahindra and Mahindra group at present holds 47.11% stake in the company.

The company's forging and machining facility is one of the top three forging companies in India with an installed capacity of 42,000 MT. Mahindra Forgings is the largest supplier of forged components (like crankshafts and steering knuckles) to the Indian automotive market, commanding a 40% market share.

Financials
The company announced rise of 22.82% in standalone net profit on y-o-y basis to Rs 55.59 million, while total income dropped 2.35% y-o-y basis to Rs 1.04 billion for the quarter ended June 2013.

Recent Developments
20-MAR-14
Mahindra CIE Automotive said that the board of directors of the company has issued and allotted 80,017 equity shares of face value of Rs 10 each under the company's employees' stock option Scheme

25-FEB-14
Sundaram Mutual Fund - Sundaram Select Midcap has picked 1.63% stake in Mahindra CIE Automative on Tuesday for Rs 96.19 million. It has bought 1.50 million shares at a price of Rs 64 on the NSE.

23-OCT-13
Mahindra Forgings, reported net profit to Rs 160 million for the quarter ended Sept. 30, 2013 as compared to net loss of Rs 190 million in the same period last year.

24-SEP-13
Mahindra Forgings announced that pursuant to exercise of options by certain applicants under the Mahindra Forgings Employees' Stock Option Scheme the board of directors of the company has allotted 7,500 equity shares of face value of Rs 10 each at an exercise price of Rs 57 equity share on September 23, 2013.

19-JUL-13
Mahindra Forgings announced that pursuant to exercise of options by certain applicants under the Mahindra Forgings Employees' Stock Option Scheme (ESOS) the board of

11-APR-10
City Union Bank (Rs 28.9): Short-term trend is sideways in the range between Rs 27 and Rs 30.5 for City Union Bank. A break-out of this range either up or down will decide the next move for the stock.

04-MAR-10
Mahindra Forgings, the auto component manufacturer, today said it has raised Rs 1 billion by issuing warrants to promoter group firm, Mahindra & Mahindra on preferential basis.

03-MAR-10
Mahindra Forgings today announced that its QIP and Issue Committee of the board of directors has allotted 16,241,300 equity shares to qualified institutional buyers.



In Brief

 
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