Punjab Tractors may hike product prices soon-chairman

Newswire

MUMBAI, July 30 (Reuters) - Punjab Tractors Ltd , which is set to merge into Mahindra & Mahindra , said rising price of raw materials may force it to increase product prices in the near term. "There is a major concern on rising material costs which have to be passed on," Punjab Tractors Chairman Anjanikumar Choudhari told Reuters. "Material costs make up 70 percent of revenue, if they go up you cannot help but pass it on," he said. The strengthening of interest rates by India's ...

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