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M&M keen on Sonalika deal
Sonalika group owned ICML have been constantly experiencing a decline in sales of their MUV’s. On the other hand, M&M have been trying to buy a stake in Sonalika group since 2009 end.
M&M believes by upgrading ICML cars, and opting for aggressive promotion and distribution, they can improve on sales. The manufacturing unit of Sonalika group can manufacture 2000 units a month but they were...