Moneycontrol
Last Updated : Sep 12, 2018 02:06 PM IST | Source: Moneycontrol.com

Mahindra and Mahindra slumps after US probe into Fiat Chrysler Jeep complaint

Fiat Chrysler has filed a complaint against M&M alleging infringement of intellctual property if it jeep design.

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Shares of Mahindra and Mahindra (M&M) fell as much as 2.86 percent after a US regulator announced a probe into a complaint filed by Fiat Chrysler.

The stock touched an intraday high of Rs 951.00 and an intraday low of Rs 913.50.

The US International Trade Commission (ITC) on September 11 said it will investigate the patent of M&M's ROXOR vehicle following Fiat Chrysler's complaint.

Fiat Chrysler Automobiles NV has filed a complaint alleging that M&M infringed upon the intellectual property rights of its Jeep design.

The regulator has said it will complete the probe within 45 days.

The stock has lost almost 5 percent in the past 3 sessions.

At 10:42 hrs, Mahindra and Mahindra was quoting at Rs 925.95, down 1.54 percent from the previous close.
First Published on Sep 12, 2018 11:12 am
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