M&M hits fast track on Ford stake sale
DALAL STREET SPIKES
| The stock of the tractor major, which was under selling pressure amid profit booking across-the-board, witnessed renewed buying in Wednesday's trading. Also, in a cross deal the US-based Ford sold its 5.1 per cent stake in M&M. |
| M&M on Wednesday said that its relationship with Ford has served an important purpose for nearly a decade. |
| Both the companies on Wednesday operate in a much different business environment and the time has arrived for the firms to manage their goals independently. |
| The company values its relationship with Ford and the contribution Ford has made in bringing its international expertise in vehicle manufacturing and inculcation of its quality standards in its workforce. |