Markets across the world are increasingly turning volatile on concerns over the global economic impact of the coronavirus after China announced sharp increases in the number of people affected in the outbreak, analysts said.
'Investors should continue to invest because you are looking at the long-term; in the next four to five years, we are bound to outperform (the rest of the world equity markets).'
"The scooter industry is growing at a very fast rate and we see a good demand growth", M&M Vice President (sales and customer care) Dharmendra Mishra said.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
Auto major Mahindra & Mahindra said it has decided not to acquire the over 95 per cent stake in the beleaguered PSU firm Scooters India at present, as it has "various things" to do.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
Automaker Mahindra & Mahindra (M&M) has offered to rectify a problem in the gearbox of some of its 110cc Stallio motorcycles. The Stallio marked the entry of the maker of utility vehicles and tractors into the highly competitive motorcycle market.
Automaker Mahindra & Mahindra (M&M) has offered to rectify a problem in the gearbox of some of its 110cc Stallio motorcycles.
A tribunal in London last month confirmed that it had an exclusive jurisdiction to resolve all disputes related to the relationship between M&M and Global Vehicles. It directed the US distributor to end all current litigation, said M&M.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
Mahindra & Mahindra on Wednesday said it will look at sharing vehicle platforms with that of South Korean company SsangYong Motor, the acquisition of which it expects to complete by December.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp selling, the market capitalisation of BSE-listed firms plummeted by Rs 659,313.65 crore to Rs 1,78,79,323.05 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
UK-based telecom company BT today completed the sale of its 5.5 per cent stake in Tech Mahindra to partner Mahindra & Mahindra (M&M) for Rs 451 crore ($100.2 million). After the sale, BT has 24.4 per cent in Tech Mahindra.
Pawan Goenka, tells Shally Seth Mohile the Alturas, by far the most-expensive model wearing an Indian badge.
Mahindra & Mahindra said it will acquire 70 per cent stake in the ailing South Korean auto maker SsangYong Motor for $463 million (about Rs 2,105 crore), in order to become a global utility vehicle major. The companies have signed a definitive agreement to this effect and the acquisition process is expected to complete by March 2011, Mahindra & Mahindra (M&M) said in a statement.
Mumbai-based utility vehicle and tractor maker Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company.
The Mahindra-Renault joint venture had about 110 dealers across India.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
IndusInd Bank was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Axis Bank, Bajaj Finance, ONGC, Titan, Infosys and Tech Mahindra.
Indian automobile majors Tata Motors and Mahindra & Mahindra (M&M) have shown interest in taking over the Termini Imerese plant owned by Italy's largest car maker Fiat. Fiat has already decided to relocate the Termini Imerese plant, preferably to cost-effective areas of Poland or Germany, in 2011.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
After the easing of lockdown in mid-May, auto companies were able to resume production in a phased manner, but the ramp-up was slow due to a broken supply chain, and lockdown-induced restrictions.
Mahindra & Mahindra Ltd on Thursday decided to submit an offer for acquiring the tractor business of Valtra in Finland and Brazil, the company informed the Bombay Stock Exchange.
Pandemic-hit auto majors are likely to set aside these time-tested strategies for now, and, instead, focus on attractive finance schemes and an enhanced digital experience.
Indian companies have made acquisitions of $1 billion so far in January
ITC was the biggest gainer in the Sensex pack, rallying 3.14 per cent. Maruti Suzuki, Axis Bank, Hero MotoCorp, Vedanta, Asian Paints, M&M, HUL, Bajaj Auto and PowerGrid were among the other top gainers, rising up to 2.13 per cent.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
ONGC was the top loser in the Sensex pack, slumping over 4 per cent, followed by NTPC, Kotak Bank, Titan, Bharti Airtel and PowerGrid. On the other hand, IndusInd Bank rallied over 6 per cent.
This will help M&M secure a stable line of dealerships fairly quickly, which otherwise is time-consuming and painstaking. Chrysler LLC last month decided to terminate business with 789 dealers -- nearly 25 per cent of its total dealership -- as part of its restructuring process. Mahindra is moving into the US at a time when recession has forced companies to slash jobs, pushing auto sales to the lowest in three decades.
