Hindustan Motors gained 20 per cent from its previous close of Rs 24.80 to settle at Rs 29.75 – its intraday high. The counter witnessed huge volumes of about 5.8 million shares.
The surge followed reports that the company plans of launching premium sports utility vehicles from Mitsubishi stable in the country, in around six months. The price range for these vehicles is expected to be Rs 15-25 lakh.