Page 25 - Mahindra & Mahindra

Small Indian towns overtaking big cities on EV ride, shows report

Top three e2W consuming states saw towns with sub-million population accounting for majority of sales--56% in Maharashtra, 75% in Karnataka and 78% in Tamil Nadu

M&M soars 33% from 52-week low on hopes of steady performance

Analysts expect strong volume outlook on the back of a robust order book in autos and new product launches across segments.

Stocks to Watch: Infosys, HDFC Bank, Tata Steel, ICICI Life, HUL, RIL, M&M

The Infosys ADR has declined over 9 per cent in the last two trading session in the US market, while our market was shut for trade, post Q4 results.

Mahindra & Mahindra hikes vehicle prices by 2.5% as commodity prices surge

Mahindra & Mahindra on Thursday said it has increased prices of its entire model range by 2.5 per cent with immediate effect. This will result in an increase of Rs 10,000 to Rs 63,000 on the ex-showroom prices across the range, depending upon the model and the variant, the home-grown auto major said in a statement. The price revision is the result of a continuous increase in prices of key commodities such as steel, aluminium, palladium, etc, it added. "The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision," M&M noted. The company, which sells models like Thar and XUV700, is working with its sales and dealer network to communicate the new prices to the customers appropriately, it added. Earlier this month, the country's largest carmaker Maruti Suzuki India (MSI) has also announced an increase in prices of its entire model

Stocks to Watch: Banks, Asian Granito, M&M, Tata Steel, Telecom, SWRE

Rate sensitive related shares such as auto, banks, NBFCs and realty are likely to be in limelight owing to the RBI policy on Friday.

India's Mahindra says deal to sell SsangYong Motor to Edison terminated

BENGALURU (Reuters) -Indian carmaker Mahindra & Mahindra said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co had been terminated.

Mahindra & Mahindra total sales up 35% in March to 54,643 units

Mahindra & Mahindra (M&M) on Friday said its total sales increased by 35 per cent to 54,643 units in March as compared with the year-ago period. The Mumbai-based auto major had dispatched 40,403 units in March 2021. The company sold 27,603 passenger vehicles last month in the domestic market as compared with 16,700 units in March 2021. It sold 23,880 commercial vehicles in the domestic market last month as against 21,577 units in the year-ago period. "We continued our growth trajectory in March 2022 with overall sales of 54,643 vehicles, a growth of 35 per cent. Demand continues to be strong, even as we remain watchful of the global supply chain and take appropriate action, as required," M&M CEO (Automotive Division) Veejay Nakra said in a statement. The company's exports last month stood at 3,160 units, up by 49 per cent from 2,126 units in March 2021.

Infy tops list of firms with strongest ESG scores, followed by M&M, Tech M

Overall, India's rank is 120 on the world Sustainable Development Goals (SDG) index with Finland topping the tables

Mahindra & Mahindra to increase stake in Carnot Technologies to over 53%

Mahindra & Mahindra Ltd on Wednesday said it will increase its stake in Carnot Technologies Pvt Ltd to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies, which provides products and services related to internet connected devices for monitoring performance of vehicles and equipment, the company said in a regulatory filing. The company will make a primary infusion of approximately Rs 2.5 crore for subscription of 1,613 Series C CCCPS (cumulative compulsorily convertible preference shares) of Carnot of Rs 100 each at a premium of Rs 15,391.65 per CCCPS. Further, it will have a secondary purchase for approximately Rs 11.5 crore of 7,423 equity shares of Rs 10 each at a premium of Rs 15,481.65 per equity share, the filing added. On the reasons for the acquisition, M&M said, "Carnot is expected to support the company's strategy by developing information technology solutions for its ...

M&M signs pact with IIT Madras-incubated entity to launch campers in India

Many other state governments are expected to announce its Caravan tourism programme shortly

M&M total sales jump 89% in Feb to 54,455 units, PV sales rise 80%

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 89 per cent to 54,455 units in February. The company's total sales stood at 28,777 units in February 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 80 per cent to 27,663 units last month as against 15,391 units in February last year, the auto major said in a statement. Commercial vehicle sales increased to 23,978 units last month as compared with 11,559 units in February 2021. The company said its exports last month stood at 2,814 units as against 1,827 units in the same month last year. "All segments showed robust growth including SUVs at 79 per cent, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. "We continue to closely monitor the semiconductor-related parts supply and take corrective action as appropriate," M&M Automotive Division CEO Veejay Nakra noted.

Sensex ends 1,414 pts off low, gains 389 pts; Tata Steel rises 6%, RIL 3%

Closing Bell: Hindalco (up over 7 per cent), Tata Steel, Power Grid, JSW Steel, Coal India, BPCL, Titan Company, RIL, and Indian Oil Corporation were the biggest large-cap gainers on the bourses today

Stocks to Watch: RIL, Zomato, M&M, Hindalco, Bharat Forge, MRF, Hero Moto

Apollo Hospitals, Ashok Leyland, Bajaj Hindusthan, Divis Labs, Fortis Healthcare, Glenmark, Godrej Industries, IDFC, India Cements, Jet Airways, PFC, Shree Renuka Sugars, Star Health and Voltas to ann

Mahindra's Q3 net rises over two-fold on strong operational performance

M&M's tractor volumes during the quarter declined to 91,769 units over 100,696 units in the same period a year ago

M&M reports over two-fold increase in Q3 PAT at Rs 1,353 cr

Homegrown auto major Mahindra & Mahindra (M&M) on Thursday reported over two-fold increase in its standalone profit after tax (PAT) at Rs 1,353 crore for the quarter ended December 31, 2021. The Mumbai-based company had posted a standalone PAT of Rs 531 crore in the October-December period of previous fiscal. Revenue for the third quarter rose by 8 per cent to Rs 15,239 crore, as against Rs 14,057 crore in the year-ago period, M&M said in a regulatory filing. The company said it sold 1,18,174 vehicles during the period under review, down 2 per cent from 1,21,133 units in the third quarter of last fiscal. M&M tractor sales declined by 9 per cent to 91,769 units in the third quarter, as against 1,00,696 units in the year-ago period. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,987 crore, as compared to Rs 1,268 crore in the Q3 of 2020-21. Revenue rose to Rs 23,594 crore in the third quarter, as against Rs 21,626 crore in the year-ago period. "We ...

Mahindra & Mahindra total sales increase 20% in January

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 19.55 per cent to 46,804 units in January 2022. The company's total sales stood at 39,149 units in January 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market stood at 19,964 units last month as against 20,634 units in January last year. Commercial vehicles sales increased to 23,979 units last month as compared with 16,229 units in January 2021. The company said its exports last month stood at 2,861 units as against 2,286 units in the same month last year. "We continued our growth trajectory with an overall growth of 20 per cent in January 2022...We continue to closely monitor the semi-conductor related parts issue and take corrective action as appropriate," M&M Automotive Division CEO Veejay Nakra said in a statement.

M&M records almost 100,000 bookings of XUV700, bills 14,000 units

Mahindra & Mahindra Ltd on Thursday said it has clocked almost one lakh bookings of its latest sports utility vehicle XUV700 besides billing the first 14,000 units of the vehicle by January, despite global supply chain issues. The company in a statement also said that while the dynamic supply chain issues continue to be a challenge in streamlining and ramping up production, it is doing its best and focusing on meeting its committed delivery timelines to customers. Given the unprecedented bookings and the continued strong demand for the vehicle, the waiting period for most variants stands at 6-10 months. However, the AX7 series has a waiting period of well over 12 months, it stated. The homegrown auto major had launched XUV700 in August last and opened bookings from early October. The deliveries of the XUV700, however, commenced only from October 30. Priced between Rs 12.95 lakh and Rs 23.79 lakh (ex-showroom), the five- and seven-seater XUV700 comes in two broad trims MX and AX ..

M&M top brass promises urgent remedial action in farmer humiliation row

Top brass of Mahindra & Mahindra Ltd on Tuesday promised urgent remedial action a day after it emerged that a farmer, who came to buy a pick-up truck of the company, was allegedly insulted by a sales staff at a showroom in Karnataka. A video of the incident that took place at Tumkur in Karnataka went viral wherein the farmer claimed that he had been told that he probably didn't even have "Rs 10 in his pocket" by a sales staff when he went to buy a Bolero pick-up truck, which "costs Rs 10 lakh". Reacting to social media posts, M&M Chairman Anand Mahindra said in a tweet, "The Core Purpose of @MahindraRise is to enable our communities & all stakeholders to Rise. And a key Core Value is to uphold the Dignity of the Individual. Any aberration from this philosophy will be addressed with great urgency." Similarly, M&M Managing Director and CEO Anish Shah also took to social media to announce that the company is dealing with the issue with urgency. "Customer centricity and ...

Stocks to Watch: HUL, Bajaj Auto, Mastek, Ceat, OFSS, SBI, M&M, RBL Bank

Asian Paints, Bajaj Finserv, Bajaj Holdings, Biocon, Century Textiles, Havells India, Hindustan Unilever, Bank of Maharashtra, MphasiS, Persistent Systems and Shoppers Stop to announce results today.

Commodity price hike hit company, unable to fully pass on to consumers: M&M

Firm will move first to alternative fuels before migrating to EVs, says top company exec