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BUZZ-India's Mahindra & Mahindra up; EESL to purchase 150 electric cars from co
October 5, 2017 / 6:38 AM / in 12 days

BUZZ-India's Mahindra & Mahindra up; EESL to purchase 150 electric cars from co

** Mahindra and Mahindra Ltd rises as much as 2.1 pct to 1,316 rupees, highest since Sept 13

** Stock among top pct gainers on NSE index

** State-run Energy Efficiency Services Ltd (EESL) says to purchase 150 e-vehicles from Mahindra & Mahindra in phase I of a plan to buy a total of 10,000 electric vehicles

** Mahindra and Mahindra got purchase order after matching the lowest bid price quoted by Tata Motors Ltd - EESL

** EESL is a JV between India govt, NTPC LTD, Power Finance Corp Ltd, Rural Electrification Corp and Power Grid Corp of India to promote energy efficiency in India

** Mahindra stock gained up to 9 pct so far in the year up to Wednesday’s close

** EESL says electric cars to replace petrol and diesel cars currently used by India govt and its agencies

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