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BUZZ-India's Tata Motors rises on govt purchase order for electric cars
October 3, 2017 / 4:45 AM / in 2 months

BUZZ-India's Tata Motors rises on govt purchase order for electric cars

** India’s Tata Motors Ltd surges as much as 6.6 pct, its biggest intraday pct gain since Dec 13, 2016

** Stock is top pct gainer on the NSE index

** Indian government said on Friday it will buy 10,000 electric cars from Tata Motors to start replacing petrol and diesel variants being used by its agencies

** Indian stock markets were closed on Monday for a local holiday

** Tata Motors also posted a 25 pct increase in September domestic vehicle sales on Sunday

** Up to Friday’s close, the stock had fallen 14.9 pct this year

** Mahindra & Mahindra, which had also bid for the contract, was up as much as 2.2 pct

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