Mahindra CIE Automotive Ltd to change name as CIE Automotive India Ltd

Mahindra CIE Automotive Ltd (the Company) is a listed subsidiary of CIE Automotive S.A., Spain having India as its major area of operations. It therefore draws from the experience of CIE group to serve the evolving Indian automotive industry.

India is projected to be one of the fastest growing large economies in the world and CIE Automotive's global strategy continues to focus on India as a key market.

To reflect the above strategy, the Board of Directors of the Company ("Board"), at its meeting held today, approved to change the name of the Company to "CIE Automotive India Limited".

The change in name of the Company is subject to the approval of the Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs and subject to the approval of shareholders in general meeting or any other authority as may be necessary.

The Board also noted the change in name of Company's German Forging holding company i.e. Mahindra Forging Europe A.G. to CIE Forging Germany GmbH.

Shares of Mahindra CIE Automotive Limited was last trading in BSE at Rs. 287.35 as compared to the previous close of Rs. 288.65. The total number of shares traded during the day was 13474 in over 615 trades.

The stock hit an intraday high of Rs. 293.00 and intraday low of 285.85. The net turnover during the day was Rs. 3887232.00.

Source : Equity Bulls

Keywords

MahindraCIEAutomotive INE536H01010 NameChange