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Japan's Sumitomo to raise stake in Indian truck firm

Date:2009-01-05

Japan's Sumitomo Corp on Tuesday agreed to raise its stake in Indian truck maker Swaraj Mazda to 53.52 percent.

The Japanese firm will buy a 14.04 percent stake from Punjab Tractors, an unit of India's top utility vehicle and tractor maker Mahindra & Mahindra Ltd, for 272 rupees a share, Swaraj Mazda said in a filing to the stock exchange.

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