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Shares of Hindustan Motors hit over 2-1/2-year high on sale of Ambassador brand to Peugeot.
The automaker shares gained as much as 17.3 per cent to Rs 12.90, highest since May 2014.
The company had said on Friday it agreed to sell its iconic Ambassador brand for consideration of Rs 80 crore ($11.94million) to French automaker Peugeot SA.
More than 3.5 million shares traded, 2.5 times the 30-day average.
Hindustan Motors stock had gained nearly 60 per cent this year as of its last close.
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