Mahindra & Mahindra Ltd has reportedly completed the buyout of Navistar Group's stake in the two joint ventures, Mahindra Navistar Automotives Ltd (MNAL) and Mahindra Navistar Engines Pvt Ltd (MNEPL).
Pawan Goenka,M&M president - automotive and farm equipment was quoted as saying,"Mahindra remains committed to growing its presence in the Indian commercial vehicle industry with Mahindra's truck and engine businesses continuing to play a critical role in helping us achieve this goal."
M&M has bought the remaining 49-per cent stake in the joint venture with US-based Navistar International Corp, reports added.
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices