Shares of Mahindra and Mahindra Ltd hit a 52-week high of Rs 2,317.15 on 15 May ahead of its quarterly results for January-March. 

A share purchase agreement had already been signed by Mahindra Holdings, an M&M wholly owned company, to sell its whole stake in the New Delhi Centre for Sight.

Mahindra Holdings agreed to sell 30.8% of NDCFS’s paid-up capital to Space Investments, Defati Investments Holding BV, and Infinity Partners for a fully diluted amount of Rs 425.4 crore.

In accordance with the Companies Act, NDCFS is both an associate company of Mahindra Holdings and a joint venture between Mahindra Holdings and M&M.

M&M and the Ministry of Skill Development and Entrepreneurship (MSDE) also signed a Memorandum of Understanding (MoU) to initiate two pilot projects under the ‘Drone Didi Yojana.’

The aim of Drone Didi Yojana is to teach 15,000 women how to utilise drones for a range of agricultural duties, including fertilisation, crop growth monitoring, and sowing.

In addition to providing the initial setup support—which includes simulator controllers, desktop computers, trainers, and simulation equipment or drones—the Mahindra Group will also pay the operations costs for the length of the pilot projects.

The benchmark Nifty 50 index has gained 2%, but the stock of this large automaker has grown by more than 32% so far this year.

At 3:30 pm, the shares of Mahindra and Mahindra closed 1.39% higher at Rs 2,301.45 on NSE.