Maruti Suzuki, Mahindra & Mahindra and Eicher Motor gained around 3% each, hitting new highs during the trading session. Battery maker Exide soared 16.8% to new record levels. TVS Motor rose 3.2%.
Tata Motors has launched a €14.1-per-share cash tender offer for Iveco Group, valuing the Italian commercial vehicle maker at €3.82 billion. Backed by Iveco’s largest
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and
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