January 10, 2013 / 2:33 AM / 5 years ago

Korea Hot Stocks-Ssangyong surges on Mahindra investment

SEOUL, Jan 10 (Reuters) - South Korea’s main KOSPI share index was up 0.3 percent at 1,997.81 as of 0213 GMT.

Stock on the move on Thursday include:


Shares in carmaker Ssangyong Motor Co Ltd touched the daily limit of 15 percent after its majority shareholder Mahindra & Mahindra Ltd said it would invest $900 million in its South Korean unit.

India’s biggest utility vehicle manufacturer Mahindra will make the investment over the next four years in products to be developed jointly with Ssangyong Motor, Mahindra’s automotive president said on Wednesday.

Mahindra bought a majority stake in the struggling South Korean company for $460 million in 2011. (Reporting by Hyunjoo Jin; Editing by Anand Basu)

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