From Sensex shares, Larsen & Toubro, Tata Motors, Hindustan Unilever, Asian Paints, ITC, Power Grid, NTPC and Reliance Industries were the major laggards. Among the gainers, Bajaj Finance jumped over 5 per cent. Mahindra & Mahindra, Bajaj Finserv, Bharti Airtel and Maruti also ended higher.
Mahindra MF, which began operations in July 2016, is currently a bit-player and placed 31 among 42 fund houses, with assets under management of about Rs 4000 crore
Volkswagen, which has two heavy-duty truck brands, Scania and MAN, is eyeing an equity stake in Navistar to gain a stronger foothold in the US commercial vehicle market, according to international media reports.
Maruti Suzuki India, Mahindra & Mahindra, Hyundai Motor and luxury car maker Audi have extended support to customers in cyclone and flood affected regions of Tamil Nadu and Andhra Pradesh. In a statement, Maruti Suzuki India said it has collaborated with its dealer partners and made several arrangements at its workshops. As soon as the news about the cyclone 'Michaung' was reported, the company proactively sent out 7 lakh SMS alerts containing precautionary steps to its customers to ensure that even before the cyclone hits, customers could take precautionary measures to safeguard their cars against potential damage, it said in a statement.
Mumbai Mantra has produced eight movies -- Sorry Bhai!, Acid Factory, Sab Se Peeche Hum Khade and Mumbai Chakachak in Hindi, Antaheen and Shukna Lanka in Bengali and Hum Bahubali and Chandu Ki Chameli in Bhojpuri.
'This case is not a good example of intellectual property strategy for either sector.'
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
Last 20 yrs have seen 4 JVs ending prematurely. What does this mean?
Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units.
The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
Chinese electric carmaker BYD is focusing on launching vehicles in the Rs 25-45 lakh price range in India even as it continues to evaluate customer preferences and demand in more affordable segments, its Head of Electric Passenger Vehicles in India Rajeev Chauhan told Business Standard.
Leading Indian utility vehicle player Mahindra & Mahindra is likely to buy out its local partner in Mahindra South Africa, which is currently a 92 per cent subsidiary.
India and the United States have agreed to deepen their strategic partnership in several key areas, with President Donald Trump announcing plans to provide India with F-35 fighter jets and billions of dollars in military supplies. The two leaders also discussed energy cooperation, critical technologies, connectivity, and countering terrorism. They agreed to work together on the India-Middle East-Europe Economic Corridor, and Trump noted India's reforms to welcome US nuclear technologies. Prime Minister Modi said the two countries can shape a better world through their cooperation. Both leaders also addressed the Russia-Ukraine conflict, with Modi stressing India's commitment to peace.
'The combination of star power, compelling storytelling, and action-packed drama promises to set the box office ablaze and kickstart the new quarter on a spectacular high note.'
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
The government on Thursday rolled out the internship programme on a pilot basis that will provide a total annual financial assistance of Rs 66,000 to those in the age group of 21-24 years, and aim to cover one crore youth over five years.
Mahindra is coming up with the Thar Roxx. MG Motor India announced a third electric vehicle Windsor. Hyundai and Kia are expected to introduce updated versions of the Alcazar and Carnival respectively.
You see the Thar is not just a Car.... It is The Thar.
With increased consumer awareness and government support in place, it is the opportune time to enter the electric passenger vehicle segment, Mahindra Group Chairman Anand Mahindra said on Monday. With an eye on gaining leadership in the electric four-wheeler segment, the Indian auto major announced that it will launch five new electric Sports Utility Vehicles (SUVs) for both domestic and international markets, with the first four expected to hit the road between 2024 and 2026. The company would introduce the first of the five e-SUVs towards the end of 2024, starting with the Indian market.
Homegrown auto major Mahindra & Mahindra on Tuesday said it plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories to strengthen its leadership position in India's electric mobility segment. The company, which has set a cumulative revenue growth target of 15-20 per cent by 2025, is keeping its options open to either bring in private equity investors or carve out its EV business into a separate entity to drive its growth. M&M, which has already announced plans to invest Rs 3,000 crore in EVs, is also considering a new brand name for the electric SUVs that it will launch by 2027.
South Korean carmaker Kia was on Tuesday declared the top mass-market performer in the overall customer experience index (CEI), an annual survey done by the Federation of Automobile Dealers Associations (Fada) to assess and quantify customer experience across 97 parameters related to sales, product, and after-sales quality. Fada conducted this survey in collaboration with consulting firm Frost & Sullivan, with a sample size of 8,685 respondents.
A joint venture of Reliance Industries Ltd and BP of the UK on Wednesday said it has signed an agreement with the Mahindra Group to explore EV and low-carbon solutions, including battery swapping technology options, for electric 3-wheelers. Besides exploring creation of EV products and services, the non-binding MoU signed by Reliance BP Mobility Limited (RBML) and Mahindra Group would look for identifying synergies in low-carbon and conventional fuels, the company said in a statement. "The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (Small Commercial Vehicles - sub 4 ton)," it said.
Finnish telecom gear maker Nokia and Tech Mahindra have joined hands to deploy 5G-based solutions for business organisations, according to a joint statement by the two companies. Under the collaboration, Tech Mahindra will leverage Nokia's private wireless DAC (digital automation cloud) solution for customers across industries and facilitate in automating 5G private wireless network management on a cloud computing system and enabling them deploy internet of things like technology.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
Mahindra & Mahindra on Thursday said it has tied up with a unit of Adani Total Gas to establish electric vehicle charging infrastructure across the country. The auto major and Adani Total Energies E-Mobility Ltd (ATEL) have inked a memorandum of understanding (MoU) in this regard. The MoU sets a roadmap for the creation of an expansive EV charging infrastructure across the country, it added.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
State-owned Life Insurance Corporation (LIC) announced on Monday that it had signed up tech giant Infosys to develop a next-generation digital platform that will act as the foundation for new high-value business applications, such as customer and sales super apps, portals, and digital branches. The financial terms of the deal remain undisclosed. The tie-up with Infosys is part of LIC's "long-drawn" strategy, said a senior executive of India's biggest insurer, who noted that the IT giant "won the bid to develop the next-generation platform through a request for proposal (RFP) process".
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". According to the pact, BII will invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs 70,070 crore, resulting in 2.75 per cent to 4.76 per cent ownership in the EV Co, M&M said in a regulatory filing. EV Co will focus on four-wheel (4W) passenger electric vehicles, it added.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
When Anand Mahindra becomes non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to have a complete oversight of and responsibility for the Mahindra group businesses.
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers. Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
The deliveries of petrol variants will start from October 30 while that of diesel trims from the last week of November. The company said it has garnered 65,000 bookings of XUV 700 in two weeks of commencing the process.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Food delivery major Zomato has received a Rs 401.7 crore show cause notice from the Directorate General of GST Intelligence (DGGI) over 'unpaid taxes' on delivery charges collected from customers, the company said in a regulatory filing late on Wednesday. The company claimed that it is not liable to pay the penalty for the period from October 29, 2019, to March 31, 2022, as the amount collected from customers is "on behalf of the delivery partners during the referred period."
Mahindra launches e-mobility platform 'Glyd' to take on Ola, Uber. Targeted at office-going executives, it offers web-conferencing, curated entertainment and music content from selective partners.
Billionaire banker Uday Kotak founded bank as well as brokerage created and oversaw an offshore fund used by an unnamed investor to profit from a plunge in Adani shares that followed a damning Hindenburg report, the US short seller said on Tuesday. Hindenburg Research, which had in a January 2023 report alleged stock market manipulations and accounting fraud at the Adani group, said it has received a show cause notice from the Indian markets regulator Sebi over gains made from betting on the conglomerate's shares.
M&M, which owns a 75 per cent stake in SYMC, rescued the sport-utility vehicle (SUV) maker from near-insolvency in 2010 but has struggled to revive its fortunes.
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