Mahindra interest lifts Italian design group

Shares in Italian auto design group Pininfarina surged more than ten per cent today on a report Indian conglomerate Mahindra was planning a bid.

In mid-afternoon trading, the stock was up nearly 15 percent at 4.69 euros, giving the financially troubled group a market capitalisation of more than 140 million euros.

Quoting sources close to negotiations, Bloomberg said Mahindra was on the verge of purchasing a company responsible for the design of more than 1,000 cars for the likes of Ferrari, Alfa Romeo and Peugeot.