Mahindra CIE Automotive has received affirmation in credit ratings from ICRA as under -

Commercial paper (Rs 200 crore) - ICRA A1+ (reaffirmed)

Line of credit (Rs 295 crore) - Long term rating ICRA AA- / Short term rating ICRA A1+ (reaffirmed)

Line of credit (Rs 295 crore) - Long term rating ICRA AA- / Short term rating ICRA A1+ (assigned)

The outlook on the long term rating is 'Stable'.

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Mahindra CIE Automotive will hold a meeting of the Board of Directors of the Company on 26 February 2020.

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Cholamandalam Financial Holdings Ltd, ITD Cementation India Ltd, JK Paper Ltd, Astral Poly Technik Ltd are among the other stocks to see a surge in volumes on NSE today, 26 November 2019.

Mahindra CIE Automotive Ltd recorded volume of 15.09 lakh shares by 14:14 IST on NSE, a 7.55 times surge over two-week average daily volume of 2.00 lakh shares. The stock gained 0.79% to Rs.147.10. Volumes stood at 1.12 lakh shares in the last session.

Cholamandalam Financial Holdings Ltd registered volume of 4.25 lakh shares by 14:14 IST on NSE, a 6.85 fold spurt over two-week average daily volume of 62080 shares. The stock slipped 0.31% to Rs.487.05. Volumes stood at 11696 shares in the last session.

ITD Cementation India Ltd recorded volume of 16.95 lakh shares by 14:14 IST on NSE, a 5 times surge over two-week average daily volume of 3.39 lakh shares. The stock gained 3.56% to Rs.68.30. Volumes stood at 6.34 lakh shares in the last session.

JK Paper Ltd notched up volume of 29.52 lakh shares by 14:14 IST on NSE, a 4.79 fold spurt over two-week average daily volume of 6.16 lakh shares. The stock rose 3.37% to Rs.125.80. Volumes stood at 18.87 lakh shares in the last session.

Astral Poly Technik Ltd saw volume of 4.86 lakh shares by 14:14 IST on NSE, a 4.78 fold spurt over two-week average daily volume of 1.02 lakh shares. The stock dropped 0.21% to Rs.1,096.75. Volumes stood at 1.29 lakh shares in the last session.

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Mahindra CIE Automotive announced the filing of certified copy of Order of NCLT, Mumbai Bench sanctioning the scheme of merger by absorption of Bill Forge (wholly owned subsidiary of the company) by the company on 15 November 2019. Accordingly, the Scheme is effective i.e. operative with effect from 15 November, 2019. The Scheme shall take effect from the Appointed Date which is 1 April, 2018.

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