Mahindra CIE shares jump 7% post block deal

Shares of Mahindra CIE Automotive rallied over 7 per cent in early trade on Friday after reports that 4.9 per cent of equity exchanged hands in a block deal.

The scrip was up 7.15 per cent at Rs 262.30 at around 9.20 am (IST), while the BSE Sensex was up 135 points, or 0.39 per cent, at 35,173.

Shares of the company hit 52-week high of Rs 276.65 on June 21, 2018 and 52-week low of Rs 199.20 on February 9, 2019.


For the quarter ended March 31, 2018, the company posted net profit of Rs 38.57 crore, up 131.79 per cent, against Rs 16.64 crore in the corresponding quarter last year.

Total revenue of the company jumped to Rs 618.07 crore during the quarter under review. It had posted total revenue of Rs 515.39 crore in the same quarter last year.