Mahindra Satyam still has to face 13 Class Action Law suits filed in the US. Analysts peg the cash outflow for these cases to be around $100 million. Satyam also has to get large marquee outsourcing deals, and is yet to restate its accounts which will give investors a good picture of where the company stands.
How does the latest offering from the Mahindra stables match up? Read on
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
Benchmark indices finished on a weak note on Thursday, extending their previous day's decline amid a negative trend in global equity markets after the US Fed hiked interest rates by 75 basis points. The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14.
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
When it comes to price versus the features, Mahindra's beast is a clear winner.
New projects will boost investment in India, says Anand Mahindra.
Benchmark BSE Sensex settled above the 63,000-level for the first time on Wednesday, extending its winning momentum to seventh day amid a largely positive trend in global markets and continuous foreign fund inflows.
Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
'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.'
M&M for sell-off of PSIDC stake in Punjab Tractor
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
From the Sensex pack, Mahindra & Mahindra, UltraTech Cement, Power Grid, State Bank of India, ITC, Titan, Tata Motors and ICICI Bank were among the major winners. Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Asian Paints and HDFC were among the major laggards.
UltraTech Cement was the biggest gainer in the Sensex chart, climbing 3.13 per cent, followed by Kotak Mahindra Bank, Tata Motors, Axis Bank, Maruti, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra. In contrast, Infosys, Tech Mahindra, Tata Consultancy Services, Wipro, Bharti Airtel, HCL Technologies, ICICI Bank and Nestle were among the laggards.
Mahindra is desperate for a best-seller in the compact SUV space, on which it missed the bus
Ssanyong has invested 700 billion won since its M&A (with Mahindra) and would put one trillion won ($920 million) in next three years.
Mahindra had bought Renault's 49 per cent stake in the troubled Mahindra Renault Private Ltd, while gaining limited autonomy to the Logan sedan, in an effort to turn around the loss-making company.
Mahindra & Mahindra Ltd, India's largest sports utility vehicle and tractor maker, is bullish on its latest acquisition of REVA Electric Car Company.
For Tech Mahindra, the successful bidder for Satyam Computer Services, it was "a game-changing day," according to Anand Mahindra, vice-chairman & MD of Mahindra & Mahindra.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
Standing ovations, flowers, gifts and rosy farewell speeches -- Keshub Mahindra's last annual general meeting (AGM) as chairman of Mahindra & Mahindra (M&M) had all this, and more.
With India's manufacturing sector slamming the brakes on production, the fallout is being felt by contractual labourers.
The comfort quotient of the Plush New XUV5OO has really skyrocketed, while its driving dynamics remain top-notch, says P Tharyan.
The Mahindra Group is an automotive, farm equipment, financial services, trade and logistics and information technology conglomerate.
Benchmark equity index Sensex and Nifty gave up early gains and ended lower on Monday as investor sentiment was hit due to unabated foreign fund outflows and losses in index heavyweights Reliance Industries and HDFC Bank. The 30-share BSE Sensex declined 168.21 points or 0.28 per cent to settle at 60,092.97 as 15 of its constituents dropped. The barometer opened higher and touched a high of 60,586.77 in morning session. Later in the day, it fell 297.35 points or 0.49 per cent to 59,963.83.
Mahindra & Mahindra on Friday confirmed its bid to acquire the Romanian government's stake in SC Tractorul UTB SA, Brasov.
Described as the 'most affordable' 4 wheeler Cab, the product has been developed to "change the face of intra city stage and contract carriage travel in India", Jacob Vargehse, general manager, sales strategy planning and commercial, automotive division, told reporters in Kochi.
Officials say domestic revival in this segment more difficult, as it doesn't have to do with consumer sentiment.
Benchmark BSE Sensex closed above the historic 66,000-mark for the first time while NSE Nifty hit a new all-time closing high driven by heavy buying in IT counters and fresh foreign fund inflows. Optimism in global equity markets also helped the local markets maintain their winning momentum for a second day. The 30-share BSE Sensex jumped 502.01 points or 0.77 per cent to settle at its new all-time closing high of 66,060.90.
The new financial year started on a mixed note for car makers.
Tata Motors, Mahindra & Mahindra and Bajaj Auto have noted a rise in these incidents.
Global automobile majors are looking to leverage India's cost-competitive manufacturing practices and turn the country into an export hub for utility vehicles.
Maruti and Hyundai see marginal rise in demand for entry-level hatchbacks.
Equity investors became richer by Rs 2.4 lakh crore as key benchmark indices Sensex and Nifty scaled new peaks in morning trade on Tuesday, amid persistent foreign fund inflows. Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.
Among the Sensex firms, Adani Enterprises and Adani Ports sustained their gaining momentum and traded higher by 4.40 per cent and 4.37 per cent, respectively. BPCL, Axis Bank, Mahindra & Mahindra and SBI were the other major gainers. On the other hand, HCL Tech, Infosys and Bajaj Auto traded in the negative zone with a loss of up to 1.54 per cent.
The list of companies include big names such as Colgate-Palmolive, Hero, Maruti Suzuki, Hyundai, Videocon, Onida, Arvind Mills, Nokia and Mahindra & Mahindra.
From the Sensex pack, IndusInd Bank, Mahindra & Mahindra, PowerGrid and Bajaj Finserve gained up to 2.01 per cent. On the other hand, bellwether stocks such as ITC, Kotak Mahindra, Tech Mahindra and Reliance were the laggards. ITC shares closed the session with a loss of 3.87 per cent lower and Reliance ended 1.92 per cent lower.
Mahindra will serve as a mentor and sounding board for the managing director on issues to be presented to the board, especially in the areas of strategic planning, risk mitigation and external interface. In addition, he will be available to provide feedback and counsel to the managing director on key issues facing the enterprise.
The demand for diesel cars, which account for 58 per cent of passenger vehicle sales in India every month, has seen a steep rise, as manufacturers continue to introduce variants that have diesel engines.
