These trusts are being registered under a new framework.
Nearly 18 months after the Mahindra Group acquired Satyam Computer Services following the admission of fraud by the latter's then chairman B Ramalinga Raju, the new management of Mahindra Satyam surprised analysts while restating the company's financials for FY09 and FY10.
American tech billionaire Elon Musk on Saturday said his proposed visit to India has been postponed due to "very heavy Tesla obligations". The electric carmaker Tesla CEO -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Narendra Modi -- wrote on X that he is looking forward to coming to India later this year.
A six-member jury headed by former Securities and Exchange Board of India chairman M Damodaran will declare the winner of the award for 2009 on February 16 in Mumbai.
Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
From the Sensex pack, NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers. Wipro and Tech Mahindra were the laggards.
Tech Mahindra on Monday pipped IT giants Wipro and IBM to bag a Rs 2,000 crore (Rs 20 billion) outsourcing deal spread over 10 years from new telecom player Etisalat DB, which is in the process starting mobile services in India.
Mahindra British Telecom is planning to recruit an additional 2,000 workers over the next 12 months on expectations of rapid growth in industry.
By June 2009, the $6 billion Mahindra & Mahindra group will open its new $116 million automobile design and development facility called the Mahindra Research Valley spread over 150 acres in Mahindra World City in Chennai. Primarily, this R&D facility will cater to M&M's design needs, and later may consider doing similar high-end work for other OEMs.
On Reva, Mahindra says electric cars are an innovation that can disrupt the automobile sector.
The Mahindra All India Talent Scholarship helps underprivileged students pursue a diploma course of their choice.
South African side Santos FC beat Mahindra United, Mumbai, 2-0 in a quarter-final league match of the 113th IFA Shield football tournament in Kolkata on Thursday. Earlier, it was a story of missed chances as Dhaka Mohammedan Sporting and Kolkata's Mohammedan Sporting drew goalless in a Group A tie.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Tech Mahindra said the company believes in diversity and inclusion, and condemns "discrimination of any kind in the workplace".
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
The defeat shunted Mahindra to second place in Group E of the AFC Cup, behind Singapore Armed Forces.
Defending champions Mahindra United rode a double strike from Mohammed Rafi to blank East Bengal 2-0 and reach the semi-final of the 122nd ONGC Durand Cup football tournament at the Ambedkar stadium on Friday.
Nadella was in India last December.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
The Adani Group led in adding net fixed assets, which are up more than 90 per cent since September 2019 or before COVID-19.
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.
Among the Sensex firms, Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, HCL Technologies, Larsen & Toubro, ITC, Sun Pharma, NTPC and Titan were the major gainers. Nestle, Axis Bank, Tata Motors, ICICI Bank, HDFC Bank and Bharti Airtel were the laggards.
L&T is the largest single shareholder in Satyam holding a 12 per cent stake in the IT firm.
WhatsApp on Tuesday said its latest policy update does not affect the privacy of messages as the Facebook-owned company sought to address concerns around security of user data on the platform.
Haresh Chawla, group chief executive officer of Network18, on Thursday put in his papers. And Rajesh Jejurikar, Mahindra & Mahindra's chief executive for the automotive division, will join Zee Entertainment Enterprises (Zee) as president.
Government has announced a slew of measures to give impetus to electric cars.
At the 53rd annual convocation ceremony of the IIT-B, Anand Mahindra urged graduates to focus on imagination.
Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
The sharp surge in investment accounts (folios) in midcap and smallcap mutual funds (MF) in recent months is likely driven by the do-it-yourself (DIY) investors. In the first five months of the present financial year (FY 2024), net folio additions in direct MF plans (4.5 million) has outpaced that in regular plans (3.9 million), contrary to the trend seen in the previous three six-month periods. The net folio additions in direct plans in the five-month period (April-August 2023) is 40 per cent higher than the total additions made in the previous six month period.
M&M will close down GenZe, an e-scooter business in California, because it is unlikely it would stand on its own feet, and is ahead of its time.
Take a look at these dazzling cars of the future.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
The 2-door vehicle may finds its way back in India with the launch of the all-new Thar by Mahindra and Mahindra, says Rajesh Karkera.
Ola Electric, India's largest maker of electric scooters, launched its most affordable ride on Tuesday, in an attempt to woo more customers and expand its electric two-wheeler lineup.
Indian companies realise several business opportunities ahead of International Yoga Day on Sunday
Along with HAL, Boeing intends to involve the Mahindra Group in building Super Hornets in India.
