Mahindra Logistics Ltd makes further investment in Lords Freight India Pvt Ltd

The Investment Committee of the Board of Directors of Mahindra Logistics Limited ('the Company'), at their Meeting held today viz. Saturday, 27 June 2020, have approved further investment in Lords Freight (India) Private Limited, Subsidiary Company ('Lords') by way of purchase of 3,80,970 equity shares of Lords (representing 16.13% of equity share capital of Lords) from the existing promoter shareholders of Lords.

The Company holds 82.92% of the share capital of Lords and on completion of the transfer formalities of said 3,80,970 equity shares of Lords, the Company's shareholding in Lords would increase by 16.13%.

Shares of Mahindra Logistics Ltd was last trading in BSE at Rs.284 as compared to the previous close of Rs. 283.2. The total number of shares traded during the day was 1851 in over 222 trades.

The stock hit an intraday high of Rs. 286 and intraday low of 280.15. The net turnover during the day was Rs. 525373.

Source : Equity Bulls

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