M&M vrooms on retail buzz

DALAL STREET SPIKES

Mahindra and Mahindra gained nearly 8 per cent to Rs 813.85 from its previous close of Rs 756.20. It touched an intraday high of Rs 825. The volumes traded on the counter were strong, at close to 6.7 lakh shares.

The rally followed reports that the company's subsidiary, Mahindra Intertrade was to launch lifestyle stores across the country, thus marking the group's entry into retail. The stock has gained by nearly 17 per cent in a month.