Mahindra to invest Rs 500 cr in trucks and buses, new products

Mahindra & Mahindra, India's biggest utility vehicle manufacturer, plans to invest Rs 200 crore  to strengthen its current product line-up of trucks and buses, the company said in a statement on Wednesday.

Mahindra plans to invest another Rs 300 crore to explore new products, it said.

On Tuesday, the company posted a forecast-beating 29% rise in first-quarter profit, as strong demand for its tractors compensated for falling sales of its sport utility vehicles.