Most Indian Stocks Rise; Mahindra & Mahindra Gains on Takeover
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Most Indian stocks climbed, led by Mahindra & Mahindra Ltd. after it signed an initial agreement to acquire Ssangyong Motor Co. in South Korea.
Mahindra & Mahindra, India’s largest sport-utility vehicle maker, advanced 1 percent after Pawan Goenka, president of Mumbai-based Mahindra’s automotive and farm-equipment division, said in Seoul the company plans to develop new cars with Ssangyong. Jindal Steel & Power Ltd., the second-biggest steelmaker by market value, gained after it resumed work on its steel and iron ore project in Bolivia’s El Mutun mines.