Mahindra & Mahindra Ltd is to pick up a majority stake in US-based Bristlecone Inc, an enterprise resource planning company, through a new overseas joint venture company with an investment of up to $7 million.
A variant of the e2o could be exported to the Middle Kingdom, Europe next year.
High lending rates, fuel prices, higher input costs and labour trouble impact profitability.
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.
Mahindra & Mahindra has raised the prices of Scorpio by Rs 5,000 to 6,000 due to the increase in input costs.
To use JLR's technology in the new cars.
Equity benchmark Sensex gained 37 points on Thursday, tracking gains in index majors Kotak Bank, L&T and Bharti Airtel amid a largely negative trend in global markets. After a largely choppy session, the 30-share BSE index ended 37.87 points or 0.06 per cent higher at 60,298 after starting the trade on a weak note. During the day, it hit a high of 60,341.41 and a low of 59,946.44.
UK-based telecom company BT today completed the sale of its 5.5 per cent stake in Tech Mahindra to partner Mahindra & Mahindra (M&M) for Rs 451 crore ($100.2 million). After the sale, BT has 24.4 per cent in Tech Mahindra.
German car makers Audi and Mercedes-Benz on Monday cut prices by up to Rs 3.82 lakh, while Tata Motors and Mahindra & Mahindra announced their intent to follow suit after Finance Minister P Chidambaram reduced excise on automobiles in the Interim Budget for 2014-15.
The Indian auto major will have 51 per cent in the JV, Mahindra Yueda Yancheng Tractor, with the rest held by the Chinese partner. M&M, which already has a presence in the Chinese tractor market through Mahindra China Tractor Co after acquiring 80 per cent stake in Jiangling Tractors in 2004, will now become the third largest tractor maker in the world after John Deere and New Holland.
The strike entered the 5th day without any impact on production at the plant.
Wipro, Power Grid, Larsen & Toubro, Mahindra & Mahindra, Tech Mahindra, NTPC, Titan, Tata Consultancy Services and HCL Technologies were among the other major winners. Bajaj Finance, IndusInd Bank, Asian Paints, Hindustan Unilever, Axis Bank, ICICI Bank, Reliance Industries and HDFC Bank were among the laggards.
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.
The transaction will be done through the stock market via block deals.
The issues unions have been pursuing aggressively include forced suspensions, flexible work conditions, recognition of a union and salary parity for contract workers.
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.
From the Sensex pack, Mahindra & Mahindra, Bajaj Finserv, IndusInd Bank, Tata Motors, Tata Steel, Larsen & Toubro, Axis Bank and NTPC were among the major laggards. UltraTech Cement, Infosys, Asian Paints, Kotak Mahindra Bank, Sun Pharma and Bharti Airtel were the winners.
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.
The opportunity is huge. With Rs 8,000 crore worth of defence contracts signed in the last two years under the offset policy mandated by the government, Indian component suppliers are gearing up to cash in on balance contracts worth Rs 1,30,000 crore, which would be up for grabs in the next few years.
All the populist schemes have either a job creation motive or a health and sanitation one.
Harley Davidson, KTM-Bajaj, M&M make India production base for automobiles to be assembled and sold in China.
Equity benchmarks snapped their six-session rally to close marginally lower on Thursday amid profit booking in banking and energy counters. Investors also stayed on the sidelines ahead of the RBI's policy meet outcome on Friday. In choppy trade, the 30-share BSE Sensex ended 51.73 points or 0.09 per cent lower at 58,298.80. During the day, it hit a low of 57,577.05 and a high of 58,712.66.
The Mumbai-based company is simultaneously working on concepts such as full hybrids, battery-powered powertrains, bio-diesel, fuel-cells and hydrogen-powered engines. Some of these vehicles will be ready for launch by 2015, according to the company whose 99 per cent of products are driven by diesel engines today.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
The benchmark BSE Sensex and Nifty closed marginally higher in a volatile trade on Tuesday as gains in FMCG, power and energy stocks helped the indices extend gains for a fifth straight day. The 30-share BSE benchmark ended 20.86 points or 0.04 per cent higher at 58,136.36 with 16 of its constituents ending in the red. During the day, it hit a high of 58,328.41 and a low of 57,744.70.
While directly holding city-based utility vehicle and tractor major Mahindra & Mahindra responsible for a potential job loss to the tune of 8,300 in the United States, its former partner Global Vehicles has called for stricter actions.
Among the Sensex firms, HCL Technologies, Tata Motors, Hindustan Unilever, NTPC, IndusInd Bank, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra were the major gainers. Bharti Airtel, Reliance Industries, ICICI Bank and Asian Paints were the laggards.
Move to be aimed at reducing subsidies on the fuel.
"We have hiked prices last week by 1.5 to 2 per cent on all our vehicles due to higher commodity costs," Mahindra and Mahindra President (Automotive and Farm Sectors) Pawan Goenka said.
Mahindra & Mahindra would not be an aggressive bidder to take over Aston Martin.
The company whose sales slumped 37 per cent in the nine months to December hopes to stem the tide with a slew of launches starting with the Zest and Bolt.
M&M is working on petrol engine while Tata is set to introduce petrol option in Bolt and Zest.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
For Mahindra & Mahindra (M&M), which has just started executing a comeback strategy for wresting back ground it lost to rivals, this could not have come at a worse time. The maker of the Bolero Neo and the Thar models on Thursday said it would have to halt production at its automotive plant for a week due to the worsening supply situation of semiconductors.
The government has asked SIAM members, to provide fresh data which will provide an indication about the diesel vehicle demand in the country.
The union is demanding reinstatement of one of their leaders who has since been suspended.
Even as some automakers limp, others charge ahead.
Maruti Suzuki, riding on the success of models like Swift, Estillo and Dzire, posted a growth of 3.4 per cent over the same period in the previous fiscal.
Amid stalled wage renewal talks, union functionary suspended, triggering work stoppage.
