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M&M stock rises in weak market

October 29, 2009

AUTO INDIA MAHINDRAShares in Mahindra & Mahindra rose nearly 4 percent to 928 rupees and ended as the top Sensex gainer, even as the benchmark index dropped over 200 points.

The company reported its quarterly numbers on Wednesday and said net profit nearly trebled, helped by cost cuts and strong sales.

Its shares, which ended as the top gainer in the BSE Auto index, touched an intra-day high of 942 rupees before closing at 928 rupees.

The stock has returned a tad over 5 percent this month, better than the 6.2 percent drop in the auto index.

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