homemarket Newsstocks NewsMomentumiser: German truck forging business sale next trigger for Mahindra CIE?
market | Dec 20, 2022 12:45 PM IST

Momentumiser: German truck forging business sale next trigger for Mahindra CIE?

Mini

On the technical front, Mahindra CIE is trading above all three 50, 100, and 200-day moving averages.

wealth-desk wealth-desk

Buy / Sell Mahindra CIE share

Recommended Articles

View All

Mahindra CIE Automotive is the listed subsidiary of CIE Automotive S.A., Spain. Mahindra & Mahindra, the India partner, holds 9.25 percent stake in the company.
Recent news reports have suggested that the company is looking to hive off its German truck forging business and is actively scouting a buyer for the same. Plans to change the name of the company to CIE Automotive India Ltd. is also in the works.
India is a major focus for operations according to the parent company.
Analysts believe that the German truck forging business had single-digit margin and was seen as a drag on the overall business. The division had been scaled down recently as well.
They further said that it remains to be seen if Mahindra will offload its stake in the company, and if so, when?
On the technical front, the stock is trading above all three 50, 100, and 200-day moving averages and had gained 16 percent in the last three trading sessions until Monday.
The stock has gained 42 percent during this year so far.
Note To Readers

Disclaimer: Stocks mentioned in the segment are not recommendations. Investors are advised to carry out due diligence before taking any investment decision.

Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng