Page 12 - Mahindra & Mahindra

Mahindra Finance's CFO Vivek Karve resigns; to pursue other interests

However, he will continue with the company beyond his notice period, till October 31, 2024, to ensure a smooth transition

Centre introduces new standards to enhance safety, performance of EVs

The two new standards, IS 18590: 2024 and IS 18606: 2024, brought by the Bureau of Indian Standards (BIS), focus on the critical components of EVs, particularly the powertrain and batteries

Vedanta Group biggest wealth creator in FY25; adds over Rs 2.2 trn in mcap

Vedanta Group comprising, Vedanta Ltd and Hindustan Zinc Ltd, have generated the maximum wealth for investors on the Dalal Street in the current fiscal so far, with the combined market valuation of both firms surging by Rs 2.2 lakh crore. The market capitalisation of the Vedanta Group surged by over Rs 2.2 lakh crore between March 28 and June 20, 2024, according to stock exchange data. This is higher than the market cap growth witnessed by leading Indian businesses like Reliance Industries, Mahindra Group, and the Tata Group during the same period. Share prices of Vedanta and Hindustan Zinc have doubled from their 52-week lows, backed by multiple positives, including the proposed demerger, the management's consistent focus on deleveraging, and significant improvement in earnings, as per stock exchange data. In comparison, Adani and Mahindra groups saw their market cap rise by Rs 1.4 lakh crore each. While Tata Group's market cap rose by over Rs 60,600 crore, heavyweight RIL's mark

Hyundai's IPO poised to boost already-buzzing Indian automakers' valuations

Local auto stocks have already added $70 billion in market value so far this year, rising nearly 40 per cent - over four times the advance in the country's equity benchmark

Mahindra group may join global firms for cell production in India: MD Shah

Mahindra Group is looking for partnerships with global players for local production of battery cells in order to cater to expected increase in demand for electric vehicles in the future, according to a top company executive. In an interaction with PTI, Mahindra Group MD and CEO Anish Shah said the company is looking at a 2030 timeframe for the possible listing of its electric vehicle arm Mahindra Electric Automobile Ltd (MEAL). "One area that we continue to look at more closely is cell manufacturing and that is something where there are various considerations... if we feel it's essential for us, we will look at a partnership for cell manufacturing," he stated. He further said: "We will look at a global technology partner, and potentially at private equity partners as well because we will not put the entire capital." The initiative, if it materialises, would enable local production of battery cells in India, Shah said. "..the only reason for us to do it is to indigenise in India. ..

M&M May wholesales surge 17% to 71,682 units, exports increase 2%

Mahindra & Mahindra on Saturday said its total wholesales increased 17 per cent year-on-year to 71,682 units in May. The company's total dispatches to its dealers stood at 61,415 units in May 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 31 per cent to 43,218 units last month against 32,886 units in May 2023, it said in a statement. Exports rose 2 per cent year-on-year to 2,671 units last month from 2,616 units in May 2023. Mahindra's Farm Equipment Sector (FES) reported 9 per cent increase in total tractor sales at 37,109 units as against 34,126 units for the same period last year. "Coupled with timely arrival of southwest monsoon in Kerala and northeast states and forecast of an above normal monsoon has improved the on-ground sentiments of farmers," Mahindra & Mahindra President, Farm Equipment Sector Hemant Sikka said. Land preparation activities for Kharif crops are expected to begin on time, which is likely to boost tractor ...

F&O Alert: These 3 Nifty stocks trade with high PCR; check key levels here

May F&O expiry strategy: In general, stocks with high Open Interest based Put Call Ratio (PCR) tend to trade with a positive bias or find strong support in case of dips.

M&M's stock races ahead on strong Q4 performance, outlook healthy

M&M is looking at expanding monthly UV capacity to 64,000 units by FY25-end and 72,000 units by FY26-end, from the present level of 49,000 units

M&M stock surges 8% on strong Q4 earnings; market cap tops Rs 3 trn-mark

Mahindra & Mahindra's market capitalisation touched Rs 3.18 trillion in Friday's intra-day trade on the BSE.

Auto major M&M shifts to high gear with Rs 37,000 crore investments

CEO says EVs will constitute 20-30% of its overall sales by 2027

Q4 FY24 results: M&M, GAIL, Vodafone among 94 firms to post earnings today

Q4 FY24 company results: Info Edge, Biocon, JK Paper, Solar Industries, Infibeam Avenues, and many more companies will post their fourth-quarter earnings on May 16

PE firm ChrysCapital to invest up to Rs 830 crore in Centre For Sight

"This investment will support CFS's ability to further scale and serve the growing demand for eye care in India both across Tier-I and Tier-II cities," the statement added

M&M's growth engines roar to life, launches to drive market-share gains

Success mileage: Investor confidence accelerates with growth focus

Mahindra, Tata Motors receive record number of patent approvals in FY24

Domestic automobile majors Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year. Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year. M&M said it has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office. "We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent," M&M ED & CEO (Auto & Farm Sectors) Rajesh Jejurikar said. The auto major has so far been conferred 1,185 patents across multiple geographies. As of March 31, 2024, the company has 193 applications awaiting patent approval. Cumulatively, it has filed 2,212 patent applications to date. M&M's

Mahindra sales up 13% in April at 70,471 units, PV sales at 41,008 units

Mahindra & Mahindra on Thursday said its total wholesales increased 13 per cent year-on-year to 70,471 units in April as compared to the same month last year. The company's total dispatches to its dealers stood at 62,294 units in April 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 18 per cent to 41,008 units last month against 34,698 units in April 2023, it said in a statement. Total exports increased 2 per cent to 1,857 units last month from 1,813 units in the year-ago period. The company said its tractor sales in April 2024 rose 2 per cent to 37,039 units as against 36,405 units in the same period last year. "Government's wheat procurement operations are going on in full swing with good mandi arrivals, keeping the rural cash flows healthy," M&M President,? Farm Equipment Sector Hemant Sikka said. IMD's forecast of an above normal monsoon rains and festivals in the month of April have helped bring positivity in rural sentiments, he ..

Auto, tyre shares on a roll; Nifty Auto, M&M scale new highs; here's why

Auto, tyre stock update: Shares of auto and tyre makers rallied up to 5 per cent in intra-day deals on Tuesday, lifting the Nifty Auto index to a new all-time high on upbeat outlook.

M&M aims to be among top 2 players in compact SUV section in 3 years

Mahindra & Mahindra Ltd on Monday said it wants to be among the top two players in the compact SUV section in the next three years. At the unveiling of its compact SUV here on Monday, M&M Executive Director and CEO for auto and farm director Rajesh Jejurikar also said that the company anticipates growth in the mid-to-high teens in its SUV volumes. Earlier, M&M Ltd unveiled its compact segment SUV, XUV 3XO, at a starting price of Rs 7.49 lakh. In the sub-four-metre compact SUV monocoque, which is a direct relevant segment for the company, out of six lakh, "we are number 5 in the segment and the next three years we want to be number 1 or number 2," he said. Stating that this segment will also grow amid a rapidly growing SUV market, he said, "We are staying with the comment (that) we made in the last result call. In FY 25, we want to grow in the mid-teens." "We have focus on products and waiting to get everything right on 3XO." "That size is of six lakhs. We will have to look

Mahindra XUV 3XO is expected to launch today; check price, design, and more

Mahindra XUV 3XO launch: Mahindra and Mahindra is expected to launch its SUV today. The new model will compete with some of its rivals like the Kia Sonet, Hyundai Venue, Maruti Suzuki Brezza

Musk vs the rest: Who will be Tesla's biggest competitors in India?

Elon Musk is set to visit India and meet PM Modi. With the likelihood of a Tesla plant coming up in India, which are the EV makers they will compete with? Here is a list

Mahindra Aerostructures signs $100 milllion contract with Airbus Atlantic

Mahindra Aerostructures on Monday announced it has signed a multi-year contract worth around USD 100 million with Airbus Atlantic for the manufacturing and delivery of metallic components for the entire Airbus commercial aircraft family, including the A320 family planes. Under the contract, the company will supply close to 2,300 varieties of metallic components to Airbus Atlantic in France from its manufacturing base in India, Mahindra Aerostructures Pvt Ltd (MASPL) said in a statement. The contract adds to existing MASPL programmes to deliver parts directly to Airbus at their facilities in France and Germany, it said. MASPL has been a direct supplier to Airbus Group since 2015, and partners with Airbus on numerous initiatives. Developing the relationship with Mahindra Aerostructures will help the company benefit from their robustness, expertise, and high-end technology capabilities in order to strengthen the company's supply base, said Airbus Atlantic Chief Procurement Officer Jos