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.
The outlook on Mahindra and Mahindra (M&M) has been changing since its tractor business hit a speed-breaker. Analysts say there are no real triggers for its shares to move up in the near term.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
FCA has alleged that the Roxor, which M&M imports in the US from India as knocked-down kits, was "a nearly identical copy of the iconic Jeep design", adding that the product was modelled after the original Willys Jeep.
In less than two weeks, the 11th Auto Expo will start in New Delhi.
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.
Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp selling, the market capitalisation of BSE-listed firms plummeted by Rs 659,313.65 crore to Rs 1,78,79,323.05 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported robust dispatches to dealers in May on the back of strong demand for passenger vehicles across regions, even as the global semiconductor shortage continued to impact production. Mahindra & Mahindra, Kia India, Toyota Kirloskar Motor, Honda Cars and Skoda also witnessed strong demand for their models last month. The month of May also witnessed Tata Motors race ahead of Hyundai in terms of domestic wholesales.
The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
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Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
IndusInd Bank was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Axis Bank, Bajaj Finance, ONGC, Titan, Infosys and Tech Mahindra.
"The scooter industry is growing at a very fast rate and we see a good demand growth", M&M Vice President (sales and customer care) Dharmendra Mishra said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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.
Pandemic-hit auto majors are likely to set aside these time-tested strategies for now, and, instead, focus on attractive finance schemes and an enhanced digital experience.
After the easing of lockdown in mid-May, auto companies were able to resume production in a phased manner, but the ramp-up was slow due to a broken supply chain, and lockdown-induced restrictions.
Pawan Goenka, tells Shally Seth Mohile the Alturas, by far the most-expensive model wearing an Indian badge.
Auto major Mahindra & Mahindra said it has decided not to acquire the over 95 per cent stake in the beleaguered PSU firm Scooters India at present, as it has "various things" to do.
Automaker Mahindra & Mahindra (M&M) has offered to rectify a problem in the gearbox of some of its 110cc Stallio motorcycles. The Stallio marked the entry of the maker of utility vehicles and tractors into the highly competitive motorcycle market.
Automaker Mahindra & Mahindra (M&M) has offered to rectify a problem in the gearbox of some of its 110cc Stallio motorcycles.
A tribunal in London last month confirmed that it had an exclusive jurisdiction to resolve all disputes related to the relationship between M&M and Global Vehicles. It directed the US distributor to end all current litigation, said M&M.
ONGC was the top loser in the Sensex pack, slumping over 4 per cent, followed by NTPC, Kotak Bank, Titan, Bharti Airtel and PowerGrid. On the other hand, IndusInd Bank rallied over 6 per cent.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
This rise was spurred by record kharif sowing - after a good rabi season - that ensured high disposable incomes in rural India.
Mahindra & Mahindra on Wednesday said it will look at sharing vehicle platforms with that of South Korean company SsangYong Motor, the acquisition of which it expects to complete by December.
ITC was the biggest gainer in the Sensex pack, rallying 3.14 per cent. Maruti Suzuki, Axis Bank, Hero MotoCorp, Vedanta, Asian Paints, M&M, HUL, Bajaj Auto and PowerGrid were among the other top gainers, rising up to 2.13 per cent.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
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.
Mahindra & Mahindra said it will acquire 70 per cent stake in the ailing South Korean auto maker SsangYong Motor for $463 million (about Rs 2,105 crore), in order to become a global utility vehicle major. The companies have signed a definitive agreement to this effect and the acquisition process is expected to complete by March 2011, Mahindra & Mahindra (M&M) said in a statement.
Mumbai-based utility vehicle and tractor maker Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company.
The Mahindra-Renault joint venture had about 110 dealers across India.
