Mahindra Auto Steel Opens New Factory Near Pune

Mumbai: Mahindra Auto Steel, part of Mahindra Group, said on Wednesday it opened an automotive steel processing facility near Pune. The factory, set up at a cost of $17 million in the first phase, is a joint venture with China Steel Global Trading Corp and other partners, with Mahindra the majority stakeholder, the company said. As of 1:03 p.m., shares in M&M were trading nearly 1 per cent higher at Rs 1162.00 apiece on the BSE.