Money on the markets

A maturing market amid the mayhem

Mahindra gaining focus on Auto front

May 26, 2010

REVA
Mahindra & Mahindra rose over 2.5 percent after the vehicles and tractor maker said on Wednesday it would buy a 55.2 percent stake in Reva Electric Car Company.

Shares in the utility vehicle maker, worth nearly $7.1 billion, pares most of the gaines and ended 0.6 percent higher at 519.45 rupees with volumes of 0.3 million shares.

M&M, which is trying to increase its global footprint, said it would launch its compact diesel pick-up truck in the United States by the end of the year.

The counter has given a negative return of over 2 percent so far this year.

Do you think M&M’s move to explore new opportunities and diversify business will give the stock much-needed strength?

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •