Mahindra & Mahindra Ltd (M&M), one of India's leading auto brands, has signed an MoU with the Maharashtra government to upgrade two Industrial Training Institutes (ITIs) under the public private partnership (PPP) scheme approved by the union government.

Under the MoU, an Institute Development Plan (IDP) will be jointly prepared by the Institute Management Committee (IMC) and Mahindra to ensure required trades in terms of both numbers and quality.

The union government plans to upgrade a total of about 1,400 ITIs under the PPP scheme. The ITIs will be upgraded by Mahindra at Ghodegaon and Manikdoh to help create employment opportunities in the state.

The stock of the company closed today at Rs 540 on BSE, down 1% compared with previous close of Rs 545. It touched an intraday high and low of Rs 550 and Rs 530 respectively.