Mahindra Topples Tata Motors as India’s Biggest Automaker
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Mahindra & Mahindra Ltd., India’s largest maker of sport utility vehicles, toppled Tata Motors Ltd. as the nation’s biggest automaker by market value after slumping passenger car demand dragged down Tata’s shares.
Mahindra gained 0.2 percent to 718.5 rupees at the 3:30 p.m. close in Mumbai, giving it a market capitalization of 441.1 billion rupees ($9.6 billion). Tata Motors, owner of the Jaguar and Land Rover brands, fell 5.3 percent to 712.35 rupees, valuing the company at 422.5 billion rupees.