Photo: ReutersMumbai:Mahindra and Mahindra Ltd, the world’s largest tractor maker, on Tuesday said it has acquired a 26% stake in Mitra Agro Equipment Pvt. Incorporated in April 2012 by Devneet Bajaj, Mitra will help Mahindra venture into horticulture applications, a new segment for the Mumbai-based conglomerate. Mitra manufactures sprayers to aid the growth of certain fruits such as grapes, pomegranates and mangoes. “In combination with Mahindra’s tractors, the partnership with Mitra will enhance Mahindra’s presence in the farm implements space,” said Rajesh Jejurikar, president of the farm equipment sector at Mahindra. At present, the farm equipment sector contributes one out of every three rupees that Mahindra earns.

Source: Mint January 30, 2018 15:11 UTC