The Nifty hit a fresh record high of 22,249 in intraday trade while the S&P BSE Sensex fell over 400 points. Sectorally, selling was seen in utilities, oil & gas, power, public sector, energy, and capital goods stocks while some buying was visible in realty stocks.
Shares of Mahindra & Mahindra (M&M) hit a record high in early trade today after Volkswagen inked a supply agreement for electric components of Volkswagen´s MEB and unified cells for use in the Indian firm’s electric platform INGLO. M&M shares rose 6% to a high of Rs 1864.65 against the previous close of Rs 1765.55 on BSE. Market cap of the firm rose to Rs 2.29 lakh crore.
Indian automaker Mahindra & Mahindra has signed a supply agreement with Germany-based Volkswagen Group for components for its INGLO platform. The deal will equip certain ranges of the electric platform with electric components from Volkswagen s MEB and unified cells. The supply deal will span several years and have a lifetime total volume of around 50 GWh.
Mahindra & Mahindra (M&M), the Indian automobile major, has signed an agreement with German carmaker Volkswagen for the supply of certain electric components as well as unified cells. With the agreement, two auto giants are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022. - Overdrive