Anand Mahindra gave a big blow to Canada, closed his company

There was a big fall in the shares of Mahindra & Mahindra. 10 minutes before the market closed, shares of Mahindra & Mahindra were trading at Rs 1584 with a decline of 3 percent.

Now a new kind of war has started between India and Canada. In which Anand Mahindra also seems to have jumped. This is the reason why Mahindra & Mahindra has given a big blow to Canada and closed down the operations of its company on Thursday. Giving information on Thursday, Mahindra & Mahindra said that its Canada based company Rayson Aerospace Corporation has closed the operations. Mahindra & Mahindra held 11.18 percent stake in the company, which applied for voluntary closure of operations. After this decision, there has been a big fall in the shares of Mahindra & Mahindra. Let us also tell you what Mahindra & Mahindra has said in its statement?

M&M's statement

Mahindra & Mahindra (M&M) said in the information given to the stock market that Reson received the necessary documents from Corporation Canada for approval to shut down the operations on September 20, 2023, information of which was informed to the company. The company said that after this Rayson stopped its operations. She is no longer an associate of the company from 20 September 2023.

Big fall in company's shares

After this news, there was a big fall in the shares of Mahindra & Mahindra. 10 minutes before the market closed, shares of Mahindra & Mahindra were trading at Rs 1584 with a decline of 3 percent. However, during the trading session, the company's shares fell by three and a half percent and reached the day's lower level of Rs 1575.75. Whereas a day earlier the company's shares had closed at Rs 1634.05.

Big loss to Mahindra & Mahindra

On the other hand, due to fall in the company's shares, there has been a decline of more than Rs 7200 crore in the valuation of the company. According to the data, a day ago the company's share was at Rs 1634.05 and the market cap of the company was Rs 2,03,025.78 crore. Whereas today when the company's shares reached the day's low of Rs 1575.75, the market cap of the company came to Rs 1,95,782.18 crore. In such a situation, the company's valuation has suffered a loss of Rs 7,243.6 crore.