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Shares of Mahindra and Mahindra today gained nearly 4 per cent on Pininfarina acquisition reports.
M&M gained 3.8 per cent while car designer Pininfarina shares were suspended from trading after rising 10.6 per cent to €4.54 by 0709 GMT.
According to media reports, M&M is close to an agreement to purchase Pininfarina.
Pininfarina, famous for designing Ferraris, was not immediately available for comment
A Mahindra group spokesman did not immediately offer comments.
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