In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
The company, in a BSE filing, said "the matter was resolved amicably through mutual dialogues and the matter has also been withdrawn by them from the conciliation officer, Mohali."
The first automobiles from the facility would roll out in the second half of 2009, Kashub Mahindra, chairman of the Mahindra group, said after signing a MoU with the Tamil Nadu government for the project.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
The company also said reports about recall of some of its Scorpio and Xylo vehicles are false.
The revenue from automotive sales jumped 58 per cent in the quarter, driven by surging demand for SUVs.
Mahindra Defence Systems chief executive Brigadier (retd) Khutub Hai said the company had manufactured armoured Scorpios for VVIPs. He added that the company has exported five armoured Scorpios to Sri Lanka as part of the Presidential fleet there.
Finance Minister Pranab Mukherjee on Friday announced raising of excise duty to 12 per cent from 10 per cent at present.
Mahindra & Mahindra on Tuesday launched its flagship vehicle 'Scorpio' with common rail diesel engine to meet the BS III auto emission norms.
The inspection and subsequent rectification will be carried out free of cost for all Rexton customers
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
F1 is the highest class of single-seater auto racing sanctioned by the Federation Internationale deRs Automobile.
Nissan, which has entered into a tripartite joint venture with Renault and Mahindra and Mahindra for setting up a plant in Chennai, is almost certain to have 25 per cent stake in the venture, while it plans to launch premium sedan Teana in India.
Fuelling competition in the Indian mid-size car market, Mahindra-Renault on Tuesday unveiled 'Logan' - an entry-level no frills sedan - with prices starting at Rs 4.28 lakh for the base petrol variant.
Mahindra & Mahindra is one of India's leading auto makers.
Investors with high risk appetite must stay invested while risk-averse investors can consider profit booking.
Ghosn's partnership with motorcycle and auto-rickshaw maker Bajaj Auto got most publicity.
The group's foray into the segment dates back to the start of 2004 when M&M Group Chairman Keshub Mahindra said the company had started testing some two-wheeler models and was looking at a commercial launch. Vice-Chairman Anand Mahindra said: "The company's foray into the bottom segment of the pyramid will create tremendous brand awareness in an entire section of the population and open a whole new population in the urban market."
Homegrown auto major Mahindra & Mahindra today said creditors and shareholders of SsangYong Motor Co (SMC) have given a final approval to a rehabilitation plan, thus paving way for its $ 463 million acquisition of 70 per cent stake in the ailing South Korean firm.
A year after French auto major Renault terminated its joint venture with homegrown automobile manufacturer Mahindra & Mahindra (M&M), the company is back to prove its mettle in the world's second fastest growing automobile market with its premium mid-size sedan Fluence.
Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher.
Bajaj Auto fears adverse impact on its exclusive loan deal with Bajaj Finance
The broader NSE Nifty too ended 98.30 points, or 0.89 per cent, down at 10,918.70.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The leading auto maker Mahindra & Mahindra, which makes both personal and commercial vehicles, said in a statement issued to the stock exchanges that it is not in a position to either confirm or deny any talks about acquiring Kinetic Motor. M&M said it examines various opportunities in different areas, from time to time on a continuing basis, but it is not practicable to comment upon every opportunity at every stage.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
Consumers will get a list of dealers in their neighbourhood once they have made a selection of vehicles.
Initially it will procure only e-rickshaws and e-autos for leasing to operators
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
Leading industrialists met with Prime Minister Manmohan Singh (not in picture) in New Delhi on Thursday to discuss the general state of the Indian economy and other industry-related matters.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
Tata Group firm Indian Hotels and auto major Mahindra & Mahindra are the only Indian brands to figure in the list of 27 top 'Great Brands of Tomorrow' compiled by Credit Suisse.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
The company's management and the union had entered into a long-term settlement in 2009 and the next wage revision for the workmen is due in February 2013.
Monday saw the Sensex post its weakest closing since July 11 when it settled at 36,265.93. In the previous four sessions the index had lost 1,249.04 points.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
We can't wait to see Maruti Suzuki S-Cross and Hyundai ix25 hitting the roads.
Yes Bank was the biggest gainer, rising 3.40 per cent, after ace investor Rakesh Jhunjhunwala bought approximately 1.3 crore shares of the company for around Rs 87 crore through open market transactions.
