Sumitomo to raise stake in Swaraj Mazda

Wednesday, December 31, 2008, 16:02 [IST]

Mumbai, Dec 1: Sumitomo Corp, a Japanese firm on Tuesday, Dec 30 agreed to raise its stake in Indian truckmaker Swaraj Mazda to 53.52 pc.

Swaraj Mazda said in a filing to the stock exchange, the japanese firm will buy 14.04 per cent stake from Punjab Tractors, a unit of India's top utility vehicle and tracker maker Mahindra & Mahindra Ltd. It will buy for 272 per share.

OneIndia News (With inputs from Agencies)

Topics: mahindra & mahindra, sumitomo corp, swarj mazda

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