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.
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.
In a recent note, the global brokerage firm said India now commands a weight of 19 per cent in the above-mentioned portfolio as compared to 18.2 per cent in September 2023. India, it said, is a large liquid market and remains a counter-weight to North Asia if a slowdown in the West occurs and China's recovery disappoints.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
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.
In the two wheeler segment, TVS Motor Company reported a 24 per cent increase in total sales at 304,795 units in April.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
This new compact SUV is offered in SLE, SLX and ZLX variants
The Mahindra group's Igatpuri plant becomes the first in India to be declared carbon-neutral. Ashish Narsale / Rediff.com finds out how this was achieved.
Mahindra & Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably. The margins of the automobile business improved 170 basis points (bps) year-on-year (Y-o-Y) to 8.8 per cent, while FES (Farm Equipment Sector) margins improved to 15.8 per cent (up 60 bps Y-o-Y), despite a decline in volumes due to cost optimisation and lower raw material costs.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
With the Thar, M&M has come full circle. In a market where every other vehicle has an SUV tag, the company plans to stick to its core competence of making rugged, true-blue, all-terrain SUVs, and marks a fresh beginning for the 75-year-old firm that enjoyed an indomitable position in the SUV segment till 2012, reports Shally Seth Mohile.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
Equity benchmarks Sensex and Nifty halted their five-day rally on Tuesday and settled deep in the red, mirroring weak global markets, with decline in index heavyweights Reliance Industries, Infosys and HDFC Bank. Despite opening with gains of over 200 points, the 30-share Sensex turned highly volatile and tumbled 709.17 points or 1.26 per cent to close at 55,776.85. During the day, the benchmark index plunged 1,067.07 points or 1.88 per cent to 55,418.95. The broader NSE Nifty also declined 208.30 points or 1.23 per cent to close at 16,663.
Utility vehicle and tractor maker Mahindra & Mahindra on Monday posted a 52.36 per cent jump in net profit at Rs 131.18 crore (Rs 1.31 billion) for the third quarter ending December 31, 2004 compared to Rs 87.41 crore (Rs 874.1 million) for the corre
Among the Sensex firms, HCL Technologies fell the most by 2.4 per cent. IndusInd Bank (2.35 per cent), Infosys (2.28 per cent), Wipro (1.8 per cent), NTPC (1.71 per cent), Asian Paints (1.7 per cent), Tata Consultancy Services (1.36 per cent),Tech Mahindra (1.03 per cent) and SBI (1 per cent) were among the major laggards.
Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners. Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
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