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In October, the company approved the issuance of a 5:1 bonus share issue i.e. 5 fully paid-up equity shares of Re 1 each for every 1 fully paid-up equity shares of Re 1 each held by the shareholders as on the revised record date of November 11, 2022.

Mahindra & Mahindra Financial Services on Monday said it has raised Rs 275 crore by issuing bonds on a private placement basis.

The STOXX 600 index slipped 0.1% after closing higher on Friday, with the energy index down 1.2% and miners shedding 0.7% by 0813 GMT.

The Power Transmission & Distribution business of Larsen & Toubro will undertake engineering, design, procurement and construction of more than 400KM of 380kV overhead transmission lines and a new 230kV gas-insulated substation with associated automation and protection systems, the company said in a regulatory filing to the stock exchanges on Monday.

“In terms of valuations, the post-issue P/E works out to 30.5x FY22 EPS (at the upper end of the issue price band) which is low compared to its peers like Paras Defense & Space Technologies, Data Patterns (India) and Sundram Fasteners,” noted brokerage firm Angel One.

Certain shareholders of the Rajasthan-based company as well as its promoters -- Shiv Ratan Agarwal and Deepak Agarwal-- will offload around 2.94 crore shares through the OFS route.

Automakers were higher, with Toyota advancing 1.45 percent to 2,059.5 yen, Nissan jumping 2.81 percent to 474.4 yen and Honda rising 1.62 percent to 3,373 yen.

The stock, which hit a fresh 52-week high of Rs 9,768.65 today, is up over 26% in the last six months amid easing of semiconductor chip shortage issues and strong demand outlook.

A bullish flag is usually formed in stocks with strong uptrends and is considered a continuation pattern. The neckline of the pattern was placed around Rs 1250 levels.

The company sold a total of 517,395 vehicles during the quarter, the highest ever in any quarter. While sales in the domestic market stood at 454,200 units, exports were at 63,195 units.