Shares in Mahindra & Mahindra
Brokerage Edelweiss says in a note Aston Martin would require significant investments in research and development, and benefits of technology transfer to the Indian tractor and utility vehicle maker's product portfolio was "questionable" given little similarity between portfolios. Edelweiss says it views the bid with caution, but maintains its "buy" rating with a target price of 1,027 rupees on Mahindra stock.
Mahindra & Mahindra shares have gained 7.9 percent this month as on Friday's close. The stock was down 2.78 percent at 927.50 rupees at 12:12 p.m.