Trending stocks: 3M India share price rises over 2%

NEW DELHI: Shares of 3M India Ltd. traded 1.6 per cent up in Wednesday's trade at 11:11AM (IST). Around 143 shares changed hands on the counter.

The stock opened at Rs 18395.0 and touched an intraday high and low of Rs 18900.0 and Rs 18395.0, respectively, in the session so far. Shares of the company of 3M India Ltd. quoted a 52-week high of Rs 25208.7 and a 52-week low of Rs 15685.6.

Total market cap of the 3M India Ltd. stood at Rs 21062.3 crore at the time of writing this report.


Ruane Cunniff & Goldfarb Inc A/C Acacia Conservation Fund sold 1,78,049 shares in 3M India at Rs 17,100 each, which were lapped up by Aurigin Master Fund, HDFC Standard Life Insurance Co, Kotak Funds – India MidCap Fund, L&T Mid Cap Fund, Max New York Life Insurance Co, and UTI Mutual Fund.

Key Financials
The company reported consolidated sales of Rs 673.15 crore for the quarter ended 31-Mar-2020, down 9.69 per cent from previous quarter's Rs 745.38 crore and down 9.38 per cent from the year-ago quarter's Rs 742.85 crore.

The net profit for latest quarter stood at Rs 60.1138 crore, down 0.34 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2020, DIIs held 3.88 per cent stake in the firm, while foreign institutional investors held 4.85 per cent and the promoters 0.0 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 65.38 and a price-to-book ratio of 12.03. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

3M India Ltd. belongs to the Diversified industry.