Page 20 - Mahindra & Mahindra

Mahindra Electric Mobility to consolidate with parent M&M

The board of directors at Mahindra & Mahindra Ltd has given in-principle approval for consolidation of Mahindra Electric Mobility in the company.Mahindra Electricity Mobility is a step-down subsidiary of M & M. The consolidation will categorise EV operations in two focused verticals -- last mile mobility (LMM) and electric vehicle tech centre."Simplifying the structure will drive improvements through innovation, execution excellence, efficiencies and economies of scale," M & M said in a statement. "Additionally, it will unlock shareholder value."The initiative will provide LMM vertical with complete ownership of the value chain for last-mile mobility solutions to drive growth and execution.It will also provide EV tech centre with the depth of resources and energy with M & M's larger ecosystem of product development capability in Mahindra Research Valley (MRV) at Chennai, North America and Europe while exploring partnership and alliances.Executive Director Rajesh ...

Mahindra & Mahindra total sales grow 37% to 64,335 units in January

Auto major Mahindra & Mahindra (M&M) Ltd on Wednesday posted a 37 per cent growth in total vehicle sales at 64,335 units in January. It had registered a total sales of 46,808 units in January 2022. The total passenger vehicles sale was up 65 per cent at 33,040 units compared to 19,646 units sold in January 2022. The utility vehicle domestic sales during the previous month grew 66 per cent at 32,915 units as against 19,848 units in January 2022 despite disruptions in the supply chain of crash sensors and airbag ECUs due to the unavailability of semiconductors, the company said in a statement on Wednesday. The commercial vehicles domestic sales increased 3 per cent at 21,724 units in January 2023 as against 21,111 units in the corresponding period last year. Exports grew 5 per cent at 3,009 units in January from 2,865 vehicles shipped out in the year-ago period, the company said. The company also sold 6,562 three-wheeler units, including electric three-wheelers, in the domestic .

Auto shares in focus ahead of January sales; M&M up 2%, nears record high

Analysts remain positive on the auto sector given the expectation of double digit volume growth coupled with benign commodity price outlook leading to healthy margin recovery.

Maharashtra govt approves M&M proposal to set up Rs 10k-cr EV plant in Pune

The two sides signed an agreement to this effect at the World Economic Forum in Davos on Wednesday, M&M Ltd said in a statement

Stocks to Watch: Infosys, HCL Tech, Wipro, Shriram Finance, M&M, Just Dial

Stocks to Watch: IT shares are likely to be in focus after Infosys and HCL Technologies reported stronger than expected Q3 results; and Wipro scheduled to report earnings on Friday.

Mahindra launches new versions of its sports utility vehicle 'Thar'

Mahindra & Mahindra on Monday launched new versions of its sports utility vehicle Thar with price starting at Rs 9.99 lakh (ex-showroom). The new range includes rear wheel drive variants (without 4 wheel drive capability) in two engine options with manual and automatic transmissions, the auto major said in a statement. The two diesel-powered manual rear wheel drive trims are priced at Rs 9.99 lakh and Rs 10.99 lakh while the petrol automatic variant is tagged at Rs 13.49 lakh. The 4WD (4-wheel drive) range now comes with an advanced electronic brake locking differential, the company said. "To make our offering even better, we listened to our customers and engineered the new range of the Thar with important enhancements," Mahindra & Mahindra President, Automotive Division Veejay Nakra noted. By offering the new rear wheel drive variants, the company has made it much more accessible for probable customers, he added. "Our additions on the 4WD variant have been designed to please .

Mahindra & Mahindra reports total sale of 56,677 units in Dec 2022

Automobile major Mahindra & Mahindra Ltd. (M&M Ltd.), on Monday said that its overall auto sales for the month of December 2022 stood at 56,677 vehicles.

Here's Why Karnataka HC barred Irani, Classic Legends from using 'Yezdi'

Indian bikers' long wait for Jawa's Yezdi continues with latest verdict from Karnataka high court

Benchmark indices rise nearly 1% on heavy buying in oil, FMCG stocks

From the Sensex pack, Mahindra & Mahindra, Power Grid, Bharti Airtel, Bajaj Finserv, HDFC, Hindustan Unilever, Maruti, ITC, Titan, Nestle, Bajaj Finance and Reliance Industries were the major winners

Ola gears up to take on M&M and Tata Motors with electric CV plan

Likely to launch three-& four-wheeler commercial vehicles next year

Innovation, tie-ups key for India to become core of supply chain: M&M CEO

Scaling up innovation, more collaboration across businesses, larger firms, MSMEs and innovators are critical for India to become the core in the global supply chain instead of just being in the periphery, Mahindra & Mahindra Managing Director and CEO Anish Shah said on Friday. The country has got the best talent with innovations happening across universities and has strengths in manufacturing and it should not be just a "plus one" to China or Europe, he said, while speaking at the annual convention of industry body FICCI. "You heard a lot about 'China plus one' and more recently 'Europe plus one'. Why is it plus one? Why is India not at the core? Why are we on the periphery? What is missing?" he asked. Shah further said, "If you look at what we have today, we have got the best talent. We have got innovations that happen across our universities, across various different areas in India. We are the manufacturing strength now. "We have a government that's committed to driving change ..

M&M to invest Rs 10,000 cr to set up plant in Pune for upcoming EV range

Mahindra & Mahindra Ltd on Wednesday said it will invest Rs 10,000 crore in the next 7-8 years in the manufacturing and development of electric vehicles at Pune, Maharashtra. The investment of Rs 10,000 crore for electric vehicles has been approved under the Maharashtra government's industrial promotion scheme for electric vehicles, M&M said in a regulatory filing. "The company, through its subsidiary, will make investments of approximately Rs 10,000 crore over a period of 7-8 years for setting up the manufacturing facility, development, and production of Mahindra's upcoming Born Electric Vehicles (BEVs)," it added. Some of these BEVs were showcased in Oxfordshire, UK, on August 15, 2022, it added. These electric SUVs are based on the INGLO EV platform and will be launched under the XUV brand and the all-new electric-only brand 'BE'. M&M Executive Director, Auto & Farm Sectors Rajesh Jejurikar said, "The government's focus on 'ease-of-doing-business' and progressive ...

Mahindra CEO sees US entry for new electric vehicles at least 5 years away

A US market entry "could likely be longer than five years because we have to win in some of our key markets first," including Europe, he added

Auto shares trade weak post November sales; Eicher, M&M down up to 3%

M&HCV segment witnessed mixed performance while LCV segment witnessed near double digit de-growth leading to overall de-growth in CV space.

Mahindra & Mahindra posts 56% rise in domestic passenger vehicle sales

Mahindra & Mahindra on Thursday reported a 56 per cent rise in domestic passenger vehicles sales at 30,392 units in November 2022. The company had sold 19,458 units in the same month last year, M&M said in a regulatory filing. Utility vehicle sales were at 30,238 units as against 19,384 units in the year-ago month, up 56 per cent. Sales of cars and vans were higher at 154 units as compared to 74 units in the same month last year. M&M President, Automotive Division Veejay Nakra said the growth in November sales was on the back of robust demand across the company's product portfolio. "The supply chain situation continues to be dynamic due to continuing international disruptions. We are keeping a close watch and are taking appropriate steps," he added. M&M said its total commercial vehicle sales were at 19,591 units last month. Total tractor sales grew 10 per cent at 30,528 units as against 27,681 units in the year-ago month, the company added. Domestic tractor sales ...

Brokerages see margin expansion at auto firms as outlook turns positive

Higher volumes and softer raw materials to drive expansion

Stocks to Watch: Hinduja Group, RIL, SBI, LIC, M&M, Hindalco, KRBL, NDTV

Stocks to Watch Today: Shares of Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC , MMTC, MTNL, SpiceJet and Strides Pharma are likely to see some action owing to Q2 results.

Strong SUV sales bump up M&M's Q2 net by 46% YoY to Rs 2,090 crore

Revenue during the period rose 57% to Rs 20,839 crore from Rs 13,314 crore

Mahindra & Mahindra posts Rs 2,089 crore Q2 PAT, revenue at Rs 20,839 cr

Automobile major Mahindra & Mahindra Ltd on Friday said it had closed Q2FY23 with a net profit of Rs 2,089.92 crore.

Mahindra & Mahindra September quarter profit up 44% at Rs 2,773 crore

Homegrown diversified group Mahindra & Mahindra on Friday reported 44 per cent increase in consolidated profit at Rs 2,773 crore for September quarter, boosted by robust sales across business verticals. The group had logged a net profit of Rs 1,929 crore in July-September last fiscal year, Mahindra & Mahindra (M&M) said in a regulatory filing. Revenue from operations during the quarter under review rose to Rs 29,870 crore from Rs 21,470 crore in the year-ago period, it added. M&M, on a standalone basis, reported revenue of Rs 20,839 crore in the second quarter, up 57 per cent from Rs 13,314 crore in the same period a year ago, the company said. Profit after tax increased 46 per cent to Rs 2,090 crore in September quarter, as compared to the year-ago period. The auto major said it sold a total of 1,74,098 vehicles in the second quarter, higher 75 per cent from 99,334 units in September quarter 2021-22. Tractor sales increased 5 per cent to 92,590 units in September ...