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Indian automaker Mahindra & Mahindra has signed a supply agreement with Germany-based Volkswagen Group for components for its INGLO platform. The deal will equip certain ranges of the electric platform with electric components from Volkswagen's MEB and unified cells. The supply deal will span several years and have a lifetime total volume of around 50 GWh.
Mahindra & Mahindra (M&M), the Indian automobile major, has signed an agreement with German carmaker Volkswagen for the supply of certain electric components as well as unified cells. With the agreement, two auto giants are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022. - Overdrive
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Morgan Stanley maintained an Equal Weight rating on Crompton Greaves Consumer and an overweight rating on Bharat Forge. Jefferies recommended a hold rating on M&M and BofA Securities recommended a buy on Gland Pharma.
From the Sensex stocks, M&M, Wipro, NTPC, HCL Tech, Infosys, and Tech Mahindra opened with gains, while Nestle, HUL, Axis Bank, UltraTech Cement, and Kotak Bank opened with cuts.