Hind Motors in top gear on Mitsubishi rollouts deal

DALAL STREET SPIKES

Hindustan Motors went up about 6 per cent to Rs 43.30 triggered by reports that it will partner Mitsubishi Motors, Japan, for launching a series of new models in India. The scrip had earlier moved up around 35 per cent from Rs 30.30 in end July, the scrip jumped to Rs 40.90 in the previous trading day.

The company had been making the Lancer sedan in its plant from 1998, using technology from Mitsubishi. The Japanese carmaker plans to tap the booming Indian market, with its products -'Lancer Cedia', SUVs 'Montero' and 'Outlander' and mini-van 'Grandis'. Hindustan Motors had registered a growth of 16.27 per cent to Rs 269.6 crore in the first quarter.