Page 18 - Mahindra & Mahindra

M&M Ltd Q1FY24 result: Consolidated net profit up 56% YoY to Rs 3,683 cr

The revenue from operations for Q1FY24 came in at Rs 33,406.44 crore, compared to Rs 28,412.38 crore year-on-year

Temasek to invest Rs 1,200 crore in Mahindra Electric via preference shares

With this, the company's valuation will rise 15 per cent from Rs 70,070 crore to Rs 80,580 crore

M&M July sales: Total sales up 18% YoY to 66,124 units, exports down 9%

The automaker reported its highest-ever sales of SUVs at 36,205 units in July 2023 which is 30 per cent up from July 2022

Mahindra to unveil Thar EV concept on August 15: All you need to know

Continuing with the Thar's off-road character, the concept electric vehicle will also have a 4X4 set-up

M&M takes stake in RBL Bank: What are RBI rules on ownership in pvt banks?

RBI has outlined that banks are 'special' entities as they not only accept and deploy a substantial amount of uncollateralised public funds in a fiduciary capacity but also lend this money

Weekend Bites: Confidence motion, corporation action, and a cage fight

In which we munch over the week's platter of news and views

Mahindra & Mahindra slips 6% on acquiring 3.5% stake in RBL Bank

The company said it may consider further investment, subject to pricing, regulatory approvals, and required procedures, however, in no circumstance will it exceed 9.9 per cent.

Mahindra & Mahindra picks up 3.53% stake in RBL Bank for $51 million

BENGALURU (Reuters) -Indian tech-to-tractor conglomerate Mahindra & Mahindra on Wednesday said it bought a 3.53% stake in private lender RBL Bank for 4.17 billion rupees ($50.8 million).

Mahindra Group to aid US companies to set up manufacturing base in India

The company further said that Mahindra Group offers self-sufficient industrial parks at strategic locations, and has the expertise to guide companies through the approval processes

Fiat loses case as court allows Mahindra to sell Jeep's copy in US

The court denied Fiat's request to apply the "safe distance rule" on Roxor

US court allows M&M arm to keep producing, selling post-2020 Roxor version

Mahindra & Mahindra on Thursday said a US court has allowed its subsidiary to keep producing and selling the post-2020 version of its off-road vehicle Roxor in the American market. The Eastern District Court of Michigan on July 19, 2023, issued its opinion and order on Fiat Chrysler Automobile's (FCA's) renewed motion to enjoin the Post-2020 Roxor and based on its analysis declined to apply the safe distance rule to this case as sought by FCA, Mahindra & Mahindra said in a regulatory filing. Accordingly, FCA's motion to enjoin the post-2020 ROXOR was denied, it added. "With this ruling, Mahindra Automotive North America, a subsidiary of the company, continues to have no restraints on its ability to produce, sell and distribute the post-2020 Roxor in the US," the Mumbai-based auto major stated. Roxor was launched on March 2, 2018, to be sold in the US and Canada. Soon after, FCA lodged a complaint with the US International Trade Commission (ITC), alleging that it is a copy of .

Mahindra Thar, XUV300, Bolero selling at up to Rs 73,000 off in July 2023

Select Mahindra dealerships in India are offering high discounts on different car models from Rs 5,000 to 73,000, which includes cash discounts and other benefits

Indian Army places order for 1,850 Scorpio Classics to replace Gypsy

The new batch of Scorpio Classic SUVs being sold to the Indian Army are painted in a shade of green and come fitted with five-spoke silver alloy wheels, fog lamps, side steps, and roof rails

Mahindra & Mahindra to raise Rs 5,000 crore for its EV business: Report

If the deal goes through, it will be BII's second round of investment in India's biggest sports utility vehicle maker by revenue

As automakers milk price-hike benefits, employees get handsome appraisals

The average salary hike at Maruti Suzuki this year is 14-15 per cent

M&M tractor logs 6% growth in total sales at 44,478 units in June

Mahindra & Mahindra Ltd on Monday reported a 6 per cent growth in total tractor sales at 44,478 units in June, as compared to the same month last year. The company had sold 41,848 units in June 2022, Mahindra & Mahindra (M&M) said in a statement. Domestic tractor sales were at 43,364 units last month, as against 39,825 units in the year-ago period, a growth of 9 per cent, it added. Exports, however, declined 45 per cent at 1,114 units, as compared to 2,023 units in the same month last year, the company said. M&M Farm Equipment Sector President, Hemant Sikka said though the arrival of South-West monsoon got delayed due to cyclonic disturbances, it has progressed in the last week of June and has now covered the entire country, bringing huge relief to the farmers and aiding in Kharif sowing. "As on date, aggregate sowing acreage of Kharif crops is ahead of last year's acreage and is progressing at a fast pace. "In addition, record rabi crops, government support with ...

PVs make up just 16% of the Indian auto sector in volume, but 58% in value

India saw passenger vehicle sales worth $63 billion in the financial year 2022-23

India's June passenger vehicle sales climb on account of new launches

Auto sales numbers are keenly watched as they are a key indicator for assessing private consumption, which has more than 50% weightage in calculating the country's economic growth

M&M overall sales up 15% in June, SUV sales rise 22%; exports down by 10%

Three-wheeler sales were also up by 59% and reached 6,377 units in June 2023 from 4,008 units in June 2022

Domestic automakers accelerate employment of women in shop floors

Homegrown automakers Tata Motors, Mahindra & Mahindra, Ashok Leyland and Hero MotoCorp are accelerating the drive to employ more women in shop floors as they press hard on the pedal to enhance diversity. Once outsiders but no longer, thousands of women are now rolling out from two-wheelers to popular SUVs and heavy commercial vehicles across different factories of these companies. Tata Motors has over 4,500 women working in the shop floors across six manufacturing plants, including an all-women line at its Pune facility with over 1,500 of them producing popular SUVs such as Harrier and Safari. "We are an equal opportunity employer and believe a gender-balanced workforce leads to increased productivity, better decisions, enhanced collaboration, and more innovative ideas. Our focus is on enhancing diversity, especially on the shop floor and 25 per cent of all our new recruits are women," Tata Motors Chief Human Resources Officer (CHRO) Ravindra Kumar GP told PTI. He further said, ...