Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
Mahindra & Mahindra Ltd. (M&M) in association with NDTV Profit has announced the launch of Auto Quotient (AQ), a unique auto-related pan-India quiz contest.
TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
While the value of the deal could not be ascertained, it is estimated that it could be around $100 million (Rs 450 crore approximately).
Mahindra & Mahindra's ambitious foray in the United States, a first by an Indian automobile company, is to take place by the year-end, with the launch of a couple of compact diesel-driven, pick-up truck models.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Hopes to launch e-scooters within two years
Mahindra & Mahindra on Friday confirmed its bid to acquire the Romanian government's stake in SC Tractorul UTB SA, Brasov.
The Nifty ended up 121 points at 6281. The market breadth was strong. Out of 3077 stocks traded on the BSE, there were 1548 advancing stocks as against 1376 declines.
M&M said the ongoing economic slowdown in the automotive industry was mainly on account of inadequate funding and high interest cost. The company's domestic sales in November were down by 41.55 per cent at 10,430 units compared to 17,844 units last year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India wasn't applying widespread crash testing like foreign countries do, so manufacturers didn't see the need for an investment focus on safety. Customers rarely walked into showrooms asking for the safest car. They wanted the cheapest or the most fuel-efficient or the best-looking car.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Auto and farm equipment major Mahindra and Mahindra on Wednesday said its US-based subsidiary will open a new assembly and distribution centre by the end of this month.
M&M president for automotive sector Pawan Goenka told reporters that there has been a surge in commodity prices, specially that of rubber and sheet metals, which has resulted in pressures on margins.
BSE Auto index fell over 0.5% after reports that automobiles might get costlier post GST
While a unique business model, growth opportunity and consistent track record are the positives for the issue, the pricing appears stiff.
Indians face COVID-19 with record debt, stalled income.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
Renault, which has a joint venture with M&M that sells entry level sedan Logan, has been a subject of speculation over its relationship with the Indian partner and declining sales of the car had put a question mark over the future of the JV -- Mahindra Renault Pvt Ltd, in which the French firm has 49 per cent stake.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Renault and M&M had planned to bring the seven-seater MPV through their JV under which the French company's mid-sized sedan 'Logan' is manufactured and sold in India. The MPV was displayed at the Auto Expo held earlier this year.
India's biggest utility vehicle player Mahindra & Mahindra will spend close to Rs 300 crore ($60 million) towards brand-building and promotion as it prepares to launch its vehicles in the largest automotive market in the world - the United States.
While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
Of the 30-share Sensex, 13 ended higher, while 17 led by Power Grid, Tata Steel, Bajaj Auto, Hero MotoCorp, NTPC, Tata Motors, Dr Reddy's, M&M, GAIL, Infosys and L&T finished lower, fell by up to 2.40 per cent
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
The Indian auto major will have 51 per cent in the JV, Mahindra Yueda Yancheng Tractor, with the rest held by the Chinese partner. M&M, which already has a presence in the Chinese tractor market through Mahindra China Tractor Co after acquiring 80 per cent stake in Jiangling Tractors in 2004, will now become the third largest tractor maker in the world after John Deere and New Holland.
The launches will be be both in the passenger vehicle segment as well as the commercial vehicle segment of truck and low tonnage vehicles. M&M, like its competitors in the overseas market, has decided to make increased use of a single platform for several models. A vehicle platform is the basic structure on which a vehicle is built, which defines its general size, strength and body construction.
Maruti's sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno went up by 9.9% to 45,579 units
The deadlock between Mahindra & Mahindra and over 4,400 workers at the company's Nashik plant hardened on Friday, with the union saying it was appointing a lawyer to appeal to the Bombay High Court against an industrial court-imposed 48-hour deadline for workers to return to work. The deadline ended today.
Both the indices closed at five-month highs, led by financial services, IT and metal stocks, amid persistent foreign fund inflows.
The company already sells medium-to-high powered tractors in the US market. Although the exact date of launching the vehicles in the US was not revealed, company sources said that the launch will take place in January.
Navistar International Corporation through its subsidiary International Truck and Engine Corporation signed a joint venture agreement with the company to manufacture diesel engines for medium and heavy commercial trucks and buses in India, M&M said in a communique to the Bombay Stock Exchange. The joint venture, to be named Mahindra International Engines Ltd, would be owned 51 per cent by the Mahindras and 49 per cent by Navistar, the company added.
Enhancing its product portfolio in the Latin American market, homegrown auto major Mahindra & Mahindra launched its sports utility vehicle Scorpio SUV in Chile.The Scorpio, M&M's second product to be launched in Chile after the Mahindra Pik Up Double Cab, has been introduced in the country in partnership with Fortaleza of the Automotores Gildemeister Group.
Mahindra & Mahindra on Friday launched new models of its sport-utility vehicle Scorpio and cut its price ranging from Rs 34,000-70,000.
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
Auto major Mahindra & Mahindra on Friday said it will hike the prices of its passenger cars and commercial vehicles by Rs 6,000 to Rs 20,000 from October 1, partly to offset higher input costs and depreciation of rupee against the dollar.
Gateway has a contemporary look with all controls designed with ease of access and operation in mind. The Gateway is fitted with an alarm, immobiliser and offers keyless entry. It is powered by 2600 cc common rail diesel engine.
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