Mahindra Forgings on Thursday said that Anand Mahindra has resigned as its Chairman and Hemant Luthra has been elevated to the post of Non-Executive Chairman.
Mahindra Forgings Ltd on Thursday said the proposed merger of its three subsidiaries with the company will propel it to the position of second largest forging player in the Indian market.
In an announcement sent to the Bombay Stock Exchange, Musco said that due to the on-going economic slow down in the steel as well as automotive industry, and taking into account the slowdown in demand for the company's product, it has been decided to align the company's production plan with the expected demand.
Mahindra United of Mumbai retained the IFA Shield title defeating favourite Santos FC of South Africa 3-1 in an exciting final of the tournament at Barasat Stadium in Kolkata on Friday night. Mahindra forged ahead in the 9th minute through their Nigerian striker Yakubu, who shot home cashing in on a pass from forward Pierre, who hails from Ivory Coast in Africa. Yakubu struck six minutes later, heading home a cross by Pierre.
The Mumbai champions won 3-0 for their fifth victory in nine matches in the National Football League.\n\n
To merge arms, sell stake in combined entity to CIE for Rs 770 cr; to use proceeds to buy 13.5% in Spanish firm for Rs 740 cr
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BSE auto index surged 2%, capital goods, healthcare and oil & gas indices also up.
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