M&M arm incorporates agriscience subsidiary

Mahindra Agri Solutions (MASL), a subsidiary of Mahindra & Mahindra (M&M) has incorporated a subsidiary ‘Mahindra Summit Agriscience’ from October 9, 2018.

Mahindra Summit Agriscience will undertake the business of manufacturing, distribution and retailing of fertilizers, agrochemicals, nutrients and various types of inputs used in agriculture and consultancy services that are closely related to the agrochemical business. Mahindra Agri Solutions invested Rs. 1,00,000 towards the acquisition.

Mahindra & Mahindra Limited is engaged in the manufacture of passenger cars, commercial vehicles and tractors. The company's segments include automotive, IT services, financial services, steel trading and processing, infrastructure, hospitality, two-wheelers and others.

On Wednesday, the shares of the company opened at Rs. 768.65 per share on the BSE while its previous close on Tuesday was Rs. 763.95 per share on the BSE. At 11:17 hours, the shares of the company was trading at Rs. 757.70, down by 0.82 per cent. Its intraday high was Rs 774.30 and intraday low was Rs. 755.50. Its 52-week high was Rs.992 and 52-week low was Rs. 650.33 per share on the BSE.

BSE Sensex was at 34,679.17 level, up by 1.10 per cent or 377.61 points.