News flows on Saab to drive M&M

According to a Bloomberg report, Mahindra & Mahindra is interested in buying at least parts of bankrupt Swedish carmaker Saab Automobile. Quoting two people familiar with the situation, the report said, M&M is in the process of reaching out to the two court-appointed administrators who are overseeing Saab's bankruptcy to possibly buy parts of the carmaker or the whole company. “Roma Balwani, a Mahindra spokeswoman, declined to comment, while Chief Financial Officer Bharat Doshi wrote in a text message that he was in a meeting and wasn't available to talk,” according to Bloomberg report. The stock will see some action depending upon the news flow and the valuation (if the company really is interested).