Auto major Mahindra & Mahindra gained 2 percent on October 1 after CRISIL reaffirmed "CRISIL AAA/Stable/CRISIL A1+" ratings on the debt programme and bank facilities of the company.
Ahead of the festive season, Mahindra & Mahindra on September 27 announced a range of customer offers for markets in Andhra Pradesh and Telangana. M&M Ltd is a part of the $20.7-billion Mahindra group.
Ford Motor Co is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra after failing to make inroads for more than 20 years in the world’s fourth-largest automobile market, sources said.
Mahindra, one of India’s largest automakers, will own 51 percent of the new entity, sources said. The venture doesn’t include Ford’s global business services division or an export-focused engine plant in Sanand.
At 1144 hours, Mahindra and Mahindra was quoting at Rs 558.50, up Rs 11.25, or 2.06 percent. It has touched an intraday high of Rs 560.60 and an intraday low of Rs 549.30.
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