"Three acquisitions are underway in India and another two abroad," M&M vice-chairman and managing director Anand Mahindra said at the Tenth Asia Pacific Automotive Industry Roundtable.
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Mahindra & Mahindra is planning to invest Rs 1,000 crore on capacity expansion in the next three years, and was also planning to set up assembly units in Russia and Malaysia, according to Pawan Goenka, president (automotive sector) of M&M.
Mahindra & Mahindra Ltd on Thursday announced its plans to set up a special economic zone at Jaipur entailing an investment of $2 billion.
The NSE Nifty is down 203 points at 3,135. Wipro, TCS and Jaiprakash Associates have crashed around 9% each to Rs 252, Rs 494 and Rs 66, respectively. Tata Motors has tumbled 8.7% to Rs 258. Hindalco, Infosys and Sterlite have plunged around 8% each to Rs 73, Rs 1,225 and Rs 269, respectively.
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.
Reflecting the mood, passenger vehicle sales in November either remained muted or skidded for most manufacturers as high fuel prices and the higher cost of borrowing dampened buying sentiment.
Leading automakers Maruti Suzuki India, Hyundai Motor, Kia Motors and Tata Motors reported sales growth in the domestic market in November, aided by robust offtakes amid the festival season. While Maruti Suzuki India reported marginal growth, Hyundai logged in its highest ever monthly sales in November. Others like Honda Cars India, Toyota Kirloskar Motor, Mahindra & Mahindra and MG Motor India also reported sales growth in November as compared with the same month last year.
Maruti and Hyundai cars will be more expensive from February.
Mahindra & Mahindra (M&M), India's largest sports utility vehicle maker, is buying a major portion of two-wheeler maker Kinetic Motor Company's assets in a deal valued at Rs 110-120 crore (Rs 1.1 to 1.2 billion).
Leading utility and light commercial vehicles maker, Mahindra & Mahindra Ltd on Monday said it would acquire 88.41 per cent stake in Mauritius-based Plexion Technologies, a group company of J P Morgan.
Total income (net of excise) rose to Rs 2563.41 crore (Rs 25.63 billion) for the second quarter during 2006-07, up 32 per cent from Rs 1944.24 crore (Rs 19.44 billion) in the year ago period, the company informed the Bombay Stock Exchange.
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