Page 30 - Mahindra & Mahindra

Mahindra expects global business losses to shrink with Ssangyong exit

Mahindra reported a slump in quarterly profit earlier on Friday, booking a one-time loss of 12.1 billion rupees ($166 million) related to South Korean unit Ssangyong

Mahindra & Mahindra hints at hiking vehicle prices in Q1 next fiscal

Mahindra & Mahindra Ltd on Friday hinted at a possible price hike of its range of vehicles in the next few months due to rising commodity prices. The company, which was recently reported to have cut jobs in its North American operations, is likely to reduce it further even as it prepares to launch its off-roader vehicle Roxor. "We have just taken some price increase in January and unless things come under control we would probably be taking one again in Q1 of the next financial year," Mahindra & Mahindra (M&M) Executive Director Automotive & Farm Sectors Rajesh Jejurikar told reporters in a virtual post-earning press conference. He was responding to a query on the impact of rising commodity prices and how the company was planning to offset it. Jejurikar further said, "We do try to mitigate this kind of commodity increase with other internal cost measures, both on material cost and value engineering, and managing fixed cost. So typically when we have this kind of ...

Mahindra & Mahindra Q3 net profit up 42% at Rs 1,268 cr; revenue grows 11%

The company's reported Ebitda came in at Rs 3,520.4 crore for the quarter under review

Top headlines: SBI Q3 profit slips 7%, US comments on farm laws, protests

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This Jhunjhunwala-owned stock can rally another 21%: Analysts

Ace investor Rakesh Jhunjhunwala owns 4.75 per cent stake in Escorts as of December 2020 quarter

Mahindra & Mahindra total sales dip 25% to 39,149 units in January

Auto major Mahindra & Mahindra (M&M) on Monday reported 25.49 per cent decline in total sales at 39,149 units in January. The company had sold 52,546 units in the same month last year, M&M said in a statement. In the domestic market, passenger vehicle sales were up 4 per cent to 20,634 units last month, compared to 19,797 units in January 2020. Exports increased by 30 per cent to 2,286 units in the month under review, as against 1,761 units in the year-ago month. In the commercial vehicles segment, the company sold 16,229 vehicles as against 30,988 units earlier, a dip of 47.62 per cent. "We have witnessed a growth of 5 per cent in utility vehicles for the month of January. We have also seen strong bookings fueled by continued demand," M&M Automotive Division CEO Veejay Nakra said. Supply shortage of micro-processor semiconductors continues to be a serious challenge for the auto industry, he noted. "Going forward we are working with our supplier partners to gear up ...

Mfg can add half a trillion dollars to economy in next 5 yrs: Pawan Goenka

In a Q&A, the MD-CEO of Mahindra and Mahindra says budget should be sharply focused on demand generation and should lay a clear path to make manufacturing more competitive

Mahindra lays off two-thirds of staff at its North American subsidiary

Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency

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M&M cuts over half of North America workforce over pandemic: Report

Positions include engineers and manufacturing jobs at its plant in Detroit that produces the off-road vehicle Roxor, as well as sales executives

M&M reclaims Rs 1-trn m-cap mark as stock surges 5%, hits over 2-yr high

The stock rallied 5% to Rs 817, its highest level since October 2018.

Ford has an uphill drive in India after snapping ties with Mahindra

Lack of scale despite a quarter century in India could stall its growth in the market after the break-up with Mahindra & Mahindra

Mahindra & Mahindra hikes prices of personal, commercial vehicles by 1.9%

Mahindra & Mahindra (M&M) on Friday announced hike in prices of its range of personal and commercial vehicles by around 1.9 per cent with immediate effect. Mahindra & Mahindra (M&M), part of the USD 19.4 billion Mahindra Group, will raise the prices of range of personal and commercial vehicles by Rs 4,500 - Rs 40,000, depending on the model and variant, the Mumbai-based automaker said in a regulatory filing. M&M said in the case of new Thar, the current price increase will be effective for all bookings done between December 1, 2020 and January 7, 2021. All fresh bookings for the new Thar, effective January 8, 2021, will have prices as applicable on the date of delivery, the company added. Veejay Nakra, CEO Automotive Division, M&M said the price increase was necessitated due to unprecedented increase in commodity prices and various other input costs over the past many months. "We have made all efforts to reduce our costs and deferred price increase for a ...

M&M hits 52-week high on price hike of personal, commercial vehicles

The price will increase by around 1.9 per cent, resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant

MG Motors sees no impact of Indo-China tension, expects sales to rise 75%

MG Motors on Thursday launched the seven-seater version of its premium SUV, Hector, at a price of Rs 13.34 lakh

2021 will be year of reinvention and regeneration: Anand Mahindra

Mahindra group has emerged stronger from the COVID-19 crisis and the 'strange & sinister year' 2020 will be transformed into a year of 'reinvention & regeneration' in 2021, according to the chairman of the conglomerate, Anand Mahindra. In his New Year address to the 2.56 lakh employees of the group across 100 countries, Mahindra said in spite of all the problems brought about by the pandemic last year, "someunexpectedly great things had emerged from what seemed like an impossibly bad situation". Drawing parallels to the development of COVID-19 vaccines, in which researchers and regulators have fast-tracked the vaccine development process to 10 months which otherwise takes 10 years, he said there are lessons for the group to learn from it in terms of following purpose-driven business, rebooting and re-evaluating. "I thinkthe first important learning from that story is that the day of the purpose-driven business has arrived," he said adding manufacturing the vaccine is a true ...

Mahindra and Ford Motor Co call off proposed JV citing pandemic

Mahindra also expects to close deal with a potential buyer for a stake sale in Ssangyong

Top headlines: Companies hold back on capex, GST mop-up at record high

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M&M says likely to conclude deal to sell stake in Ssangyong by Feb end

Company says may sign term sheet next week, deal is more or less agreed; Post sale, Mahindra will hold less than 30% in the firm

Ford Motor, Mahindra call off JV over global economic, business conditions

The latest move will not have any impact on its product plan, Mahindra and Mahindra said