Page 29 - Mahindra & Mahindra

Ashok Leyland's LCV gamble pays off with a little help from the pandemic

Its offering Bada Dost has helped in huge market share and volume gains

Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans

Mahindra Lifespace Developers has agreed to buy 3.2 acre land in Pune from parent company Mahindra & Mahindra as part of its expansion plan. The company said it has "finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra Ltd". The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller. This new project will offer about 3.25 lakh sq ft of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth project in Pune. Arvind Subramanian, managing director & CEO of Mahindra Lifespace Developers Ltd, said, "The proposed acquisition will help us grow our presence in this high-performing micro-market and is in line with our residential expansion strategy." Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the USD 19.4-billion Mahindra Group. The company's development ...

Mahindra to invest Rs 3,000 cr on electric vehicle business in next 3 years

Mahindra & Mahindra Ltd will put in fresh investments to the tune of Rs 3,000 crore on its electric vehicles business in the next three years, while it looks for more alliances and partnerships in the vertical, according to a top company official. M&M is working on developing on an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy. "So, for EVs we are going to invest Rs 3,000 crore additional to what we have talked about," Mahindra Group Managing Director and CEO Anish Shah told PTI. Mahindra & Mahindra Ltd had earlier said it was investing Rs 9,000 crore in auto and farm sectors in the next five years. The company, which has set a goal of putting 5 lakh electric vehicles on Indian roads by 2025, has already invested Rs 1,700 crore in the EV business in India with another Rs 500 crore on a new research and development (R&D) centre. While it has already opened its electric technologies plant in Bengaluru that produces .

Vehicle scrapping: M&M inks agreement with Mahindra MSTC Recycling

Mahindra MSTC is into acquiring used/end-of-life vehicles for dismantling and scrapping. The pact will enable M&M customers to get a hassle free and transparent deal under one roof

Best of BS Opinion: The GST puzzle, infecting public health, and more

Here's a selection of Business Standard opinion pieces for the day

Brake on diversification

M&M must focus on reviving its core automotive division

Primary focus on scaling up existing units: M&M MD & CEO Anish Shah

Anish Shah says the exercise of exiting loss-making international subsidiaries is almost done

M&M reports sale of 40,403 units in March, exports stand at 2,126 units

Mahindra & Mahindra (M&M) on Thursday said it has sold a total of 40,403 units in March. The company had dispatched 6,679 units in March 2020 amid sales disruptions due to COVID-19 pandemic. The Mumbai-based automaker sold 16,700 passenger vehicles last month in the domestic market. It had dispatched 3,383 units in March 2020. It sold 21,577 commercial vehicles in the domestic market last month. The company had dispatched just 2,742 units in March 2020 due to coronavirus-led lockdown. "At Mahindra we are witnessing very good momentum in demand and have a strong pipeline of bookings across our SUV range of Bolero, Scorpio, XUV300, All-New Thar and also the Bolero Pik-up," M&M Automotive Division CEO Veejay Nakra said in a statement. In fact Bolero volumes for March have been the highest in this financial year and despite supply constraints the company has been able to ramp up production of Bolero Pik-up significantly during the month, he added. "We expect supply challenges .

TVS Automobile Solutions revs up for the automobile aftermarket

With the acquisition of Mahindra First Choice, the subsidiary is driving its pan-India presence with tech solutions and tie-ups

Maruti Suzuki, Tata Group, M&M warm up to vehicle-scrapping units

Companies in talks on joint ventures and exploring tie-ups with suppliers

Stocks to watch: IDBI Bank, M&M, Prestige Estates, SBI Life, Quick Heal

M&M has got a green signal from the Reserve Bank of India to reduce its ownership in Korean automaker SsangYong Motor

Mahindra receives RBI approval to reduce stake in SsangYong Motor

The maker of XUV500 and Scorpio has got a nod from the country's central bank to reduce its stake in Ssangyong to 25 per cent from the current 75 per cent through capital reduction

Tractor sales rise by around 30% in February 2021 to 84,690 units

February 2021 sales were lower compared to January 2021 sales of 87,579 units and production of 96,020 units

M&M says 'no widespread layoffs', only 48 employees left in last 12 months

Mahindra & Mahindra on Wednesday said it has let go 48 employees in the last one year due to redundancies while another 98 have been given six months to find a role. Refuting reports that the company has fired 300 executives in its automotive and farm equipment sectors, M&M in a regulatory filing said during the pandemic it has taken "series of actions consistent with our core values and strong focus on associates. There were minimal separations...and no widespread layoffs". "Over the last 12 months, we have let go 48 associates due to redundancies. In addition, 98 associates have been given six months to find a role. The combined total (across all levels) is 1.3 per cent of white-collar associates within auto and farm sectors," the company said. M&M also asserted there are no plans for layoffs at Mahindra Research Valley and on the contrary, it said, "...we continue to recruit talent, which will further accelerate as we ramp up our EV (electric vehicle) strategy." As far .

BEML surges 13% as report suggests Tata, Mahindra eyeing stake in firm

The board approved the appointment of M/s Deloitte Haskins & Sells LPP, as Consultant for advising, undertaking and implementing demerger of non-core assets of BEML

Mahindra total sales dip over 11% in February to under 29,000 units

Mahindra & Mahindra (M&M) on Monday reported an 11.38 per cent decline in total sales at 28,777 units in February. The company had sold 32,476 units in February 2020, M&M said in a statement. Passenger vehicles sales increased by 41 per cent to 15,391 units last month, as compared with 10,938 units in the year-ago period. In the commercial vehicles segment, the company sold 11,559 vehicles in the domestic market last month, as against 19,699 units in February 2020, a drop of 70.42 per cent. Exports declined by 1 per cent to 1,827 units last month, as against 1,839 units in the year-ago month. "Demand continues to remain buoyant for our range of SUVs and Pick-ups and we have a robust order pipeline. However, supply of semiconductors, as we all know, is a global issue and it is likely to continue for another 3 to 4 months," M&M Chief Executive Officer Automotive Division Veejay Nakra said. Going forward, the company will continue to monitor the situation and closely work

Mahindra sells its entire stake in First Choice Services to TVS Automobile

It has also sold its entire stake of optionally convertible redeemable preference shares in Auto Digitech, a wholly-owned arm of Mahindra Holdings for Rs 13.5 crore to TVS

Ford puts projects with M&M on hold as it reassesses India strategy: Report

NEW DELHI/DETROIT (Reuters) - Ford Motor has frozen all projects it was working on with Mahindra & Mahindra while it finalises a new India strategy, three people familiar with the U.S. carmaker's plans told Reuters, weeks after the two companies called off their planned joint venture.

Mahindra shares touch a two-year high on strong Q3 show on two key fronts

Concerns remain on the company's weakening position in the UV segment

Mahindra's Q3 net zooms 40% on robust tractor sales, cost control

Impairment booked on account of Ssangyong dented net profit