Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
The NSE Nifty is down 203 points at 3,135. Wipro, TCS and Jaiprakash Associates have crashed around 9% each to Rs 252, Rs 494 and Rs 66, respectively. Tata Motors has tumbled 8.7% to Rs 258. Hindalco, Infosys and Sterlite have plunged around 8% each to Rs 73, Rs 1,225 and Rs 269, respectively.
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.
Mahindra & Mahindra Ltd has decided not to participate in the divestment of state-owned Punjab Tractors Ltd.\n\n\n\n
Mahindra & Mahindra has said it is all set to sell its sport utility vehicle Scorpio in European markets.
Leading carmakers Maruti Suzuki and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India, Honda Cars and MG Motor also saw a fall in dispatches last month as compared with October 2020. However, companies like Tata Motors, Mahindra, Nissan and Skoda managed to post positive numbers last month despite the supply chain challenges.
Mahindra & Mahindra (M&M), India's largest sports utility vehicle maker, is buying a major portion of two-wheeler maker Kinetic Motor Company's assets in a deal valued at Rs 110-120 crore (Rs 1.1 to 1.2 billion).
Buses that run on battery, trucks that purr on LNG, and more from the stables of Tata Motors, Mahindras and Ashok Leyland. The Auto Expo 2018 had these and more.
Ola Electric on Thursday teased five new electric motorcycles that the SoftBank-backed company is working on, announcing the range after selling electric scooters. The products are labelled cafe racer, an adventure tourer, a scrambler and a naked motorcycle. The motorcycles are expected to be launched next year and would include premium and mass-market versions, said sources.
From the Sensex firms, Bajaj Finance, HDFC, HDFC Bank, Bajaj Finserv, Asian Paint, State Bank of India, Tata Consultancy Services, Bharti Airtel, Reliance Industries and Tata Steel were the biggest gainers. HDFC climbed 2.59 per cent after the housing finance major on Thursday reported a 20 per cent growth in standalone net profit to Rs 4,425 crore for the quarter ending March 2023 on the back of higher interest income. IndusInd Bank, Nestle, Power Grid, ITC, Tata Motors and Mahindra & Mahindra were the major laggards.
An Indian ownership of Jaguar, one of the two luxury cars that the US car maker Ford is selling off, is not acceptable to the American dealers of the brand. Tata group and Mahindra & Mahindra are two of the front-runners for acquisition of Jaguar and Land Rover, along with a private equity bidder, One Equity that is led by a former Ford CEO.
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
Mahindra & Mahindra Ltd has raised $100 million through the issuance of foreign currency convertible bonds with participation from European and Asian investors.
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
Mahindra & Mahindra has posted a 34.8% rise in sales for the fiscal 2003-04 at 1,15,782 vehicles as against 85,835 in 2002-03 while its SUV Scorpio at 23,976 units posted a whopping 103.3 per cent rise over the previous fiscal.
Mahindra & Mahindra Ltd has raised the prices of its sports utility vehicle Scorpio by Rs 6,500 and that of its multi-utility Bolero by Rs 4,500, effective March 15.
From the Sensex pack, IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank and Tata Motors were among the major laggards. HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India and Mahindra & Mahindra were the gainers.
Equity investors' wealth jumped by over Rs 10.19 lakh crore in the three-day market rally to Monday. On Monday, the 30-share BSE Sensex soared by 1,041.08 points or 1.90 per cent to settle at 55,925.74. In three days, the bechmark has zoomed 2,176.48 points or 4 per cent. Helped by jump in equities, the market capitalisation of BSE-listed firms went up by Rs 10,19,936.84 crore to Rs 2,58,47,092.40 crore in three days.
The auto component sector grew at 5-6 per cent last year against a 13 per cent growth in 2012.
Mahindra & Mahindra Ltd has lost the race to acquire the tractor business of Valtra in Finland and Brazil to US-based Agco, which had bid at euro 600 million.
The meltdown in Dalal Street that wiped out investor wealth to the tune of 44 trillion in 2025 also seems to be having a ripple effect on the country's vibrant automobile retail sales.
Even as Mahindra & Mahindra unleashes the new improved Scorpio, its plans to launch a low-end version of the stinger for mass market are currently on.
In order to provide cheaper credit to farmers for buying tractors and equipment, SBI has tied up with Mahindra & Mahindra to offer a concessional interest rate of 11 per cent with one year's gestation period for the purchase of M&M's tractors.
Utility vehicle-maker Mahindra & Mahindra, which agreed to buy 43.3 per cent stake in Punjab Tractors Ltd last week, on Monday made an open offer to acquire an additional 20 per cent in the company.
Mahindra & Mahindra Ltd has posted a net profit of Rs 307.86 million for the quarter ended December 31, 2002 as compared to Rs 243.20 million for the quarter ended December 31, 2001.
