Mahindra & Mahindra Ltd has said that it plans to set up a facility in Tamil Nadu for manufacturing its three-wheelers and passenger vehicles. No financial details were provided.
Currently, Japanese automaker Nissan Motor India, Renault, BMW, Ford and Hyundai Motor India have their manufacturing facilities near Chennai.
On Wednesday, Mahindra & Mahindra ended 3.1% up at Rs805 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.3% down at 20,875 points.
Rebutting some media reports about the recall of its small car Nano, Tata Motors Ltd on Wednesday said that the design and build of its car was "robust".
However, the company can provide additional protection to the exhaust system of the vehicle and the electrical system at no extra cost, said Tata Motors.
The company is the country's largest vehicle maker and it said that there are "no generic defects" in the Tata Nano. It said that during an investigation by a team of internal and international experts, it found instances of "additional foreign electrical equipment installed" or "foreign material left on the exhaust system".
Tata Motors said that from the third week of November, each of its Tata Nano customers will be informed about the "additional" protection.
On Wednesday, Tata Motors ended 2.5% up at Rs1,302 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.3% down at 20,875 points.
JHS Svendgaard Laboratories Ltd has said that its net profit for the September quarter zoomed 449.2% to Rs4.4 crore from Rs78.6 lakh in the same quarter last year.
During the September 2010 quarter, its net sales increased 183.51% to Rs34.3 crore from Rs12.1 crore, the company said in a statement.
On Wednesday, JHS Svendgaard gained 1.5% to Rs122 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.3% down at 20,875 points.