Mahindra & Mahindra gave all its gains and slipped to a low of Rs 813. The scrip finally settled flat at Rs 820. The counter clocked volumes of 239,425 shares as compared to the two-week daily average traded volumes of 277,548 shares.
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(Updated at 1112hrs)
Mahindra & Mahindra is up around 2% on expansion of the two-wheeler sector.
The stock opened at Rs 830 and soared to a high of Rs 844. The scrip is now trading at Rs 834, up over 1.5% from the previous close. The counter has clocked volumes of 52,437 shares.
The company had entered into the two-wheeler sector with the acquisition of 80% stake in Pune-based Kinetic motor company for Rs 110 crore last year. The companay unveiled two-scooters- Mahindra Rodeo and Mahindra Duro. These are the first indigenously developed products of the company. Mahindra & Mahindra is open to alliance in the two-wheeler space which will give them either market or technology.
Read here for more news: Mahindra expands scooter range with two launches