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Shares of automaker Mahindra and Mahindra Ltd fell as much as 2.7 per cent to Rs 581.25, their lowest since December 27, 2016.
Stock broke below a support at Rs 586.23. A close below the 23.6 per cent level may lead to a near-term drop to the next support at Rs 531.13.
The stock was down 25.7 per cent this year, as of last close, while the Nifty gained 6.8 per cent in the same period.
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