Hind Motors rises on Bengal nod

DALAL STREET SPIKES

On Wednesday, the auto stock gained 10 per cent to close at a high of Rs 43.05. Over 42 lakh shares exchanged hands on the BSE.

The stock has gained 5.5 per cent over the past one week and by 33.5 per cent in the last one month. Wednesday's surge came on the back of a nod from the West Bengal government to carry out a profit generating plan at its plant there.

The company has been increasing production of auto components at this plant. It has also got a clearance from the state government to develop its land near the manufacturing plant. It has plans to launch a new range of Mitsubishi cars in India, next year.