Page 37 - Mahindra & Mahindra

10 listed firms that will see greatest impact of FM's customs duty tweaks

While some importers might have to absorb costs to protect their market share, other indigenous manufacturers should benefit

Indians use too big cars to move single person: M&M's Pawan Goenka

He also conceded that the automobile industry does add to pollution, and pitched for adopting all the means to reduce it

Mahindra Renewables to sell entire stake in 3 arms for Rs 340 crore to CLP

Mahindra & Mahindra on Friday said its wholly-owned arm Mahindra Renewables will sell its entire stake in three subsidiaries to CLP India, a part of Hong Kong-based CLP Group, for nearly Rs 340 crore. Mahindra Renewables Pvt Ltd (MRPL) has on Friday agreed to sell its entire stake aggregating 100 per cent of the paid-up equity share capital in Cleansolar Renewable Energy Pvt Ltd (CREPL), Divine Solren Pvt Ltd (DSPL) and Neo Solren Pvt Ltd (NSPL), wholly-owned subsidiaries of MRPL, to CLP India Pvt Ltd (CLP), Mahindra & Mahindra said in a regulatory filing. As per the share purchase agreement, CLP will acquire 96,23,000 equity shares of Rs 10 each in CREPL at a price of Rs 113.11 per share, aggregating to Rs 108.85 crore. Similarly, it will acquire 1,20,80,000 equity shares of Rs 10 each in DSPL at a price of Rs 104.57 per share, aggregating to Rs 126.32 crore. CLP will also buy 93,15,000 equity shares of Rs 10 each of NSPL at a price of Rs 112.37 per share aggregating to Rs ...

M&M net profit plummets 85% in December quarter, future looks bleak

The bottomline shrank so badly even as revenue fell only 4 per cent to Rs 25,303 crore, while margin improved to 14.8 per cent from 13.2 per cent, the company said

Mahindra & Mahindra slips 5% on muted December quarter results

The company's reported net profit during the quarter was impacted by Rs 600 crore due to the provisions made towards impairment of certain investments

SoftBank in talks to pick up minority stake in Mahindra Electric Mobility

For SoftBank, EVs are a key area of focus. It has already invested over $250 million in Ola Electric Mobility where it is a key investor

M&M Q3 net profit slumps 73% to Rs 380 cr; Tractor sales slips 6%

Vehicle sales during the third quarter stood at 1,23,353 units as against 1,33,508 units in the same period last fiscal, a decline of 8 per cent.

Auto Expo: Mahindra unveils electric variant of SUV KUV100 at Rs 8.25 lakh

Homegrown auto major Mahindra & Mahindra on Wednesday introduced electric variant of its compact SUV KUV100 at starting price of Rs 8.25 lakh (ex showroon Delhi post FAME benefits) at Auto Expo here. The company claims that electric KUV 100 (eKUV 100) is India's most affordable passenger electric vehicle in the segmen. eKUV100 offers peak power output of 40kW, torque of 120 Nm and a range of 147 km, ideal for city commuters. It comes with automatic transmission and could be fast charged to 80 per cent within 60 minutes. Besides, the company showcased e-XUV300, which is expected to hit the market in the second half of 2021 to strengthen its position in the EV segment. The company, part of USD 20.7 billion Mahindra group has also showcased Aton, a new age urban mobility solution and Funster, a roadster electric concept with convertible rooftop. "It is our firm belief that shared mobility would drive large scale adoption of electric vehicles and hence our product offerings would ...

Market Ahead, February 3: Top factors that could guide markets this week

On the corporate earnings front, Bharti Airtel, Lupin, Sun Pharma, and Mahindra & Mahindra are among the major companies scheduled to declare their October-December results this week

Shared mobility will be the base of EV plan, says M&M's Pawan Goenka

The company is working with state governments and fleet operators to make electric mobility viable, says Goenka

Owing to weak demand, near-term pressures to remain for Mahindra CIE

Diversified products, buys should perk up its performance from CY21

Mahindra & Mahindra tractor sales rise 3% to 17,990 units in December

Mahindra & Mahindra on Wednesday reported 3 per cent increase in total tractor sales in December at 17,990 units. The company had sold 17,404 units of tractor in December 2018, M&M said in a statement. Domestic tractor sales were at 17,213 units last month as compared to 16,510 units December 2018, a growth of 4 per cent, it added. Exports were at 894 units as against 777 units in the same month previous year, down 13 per cent. Commenting on the sales performance, M&M President - Farm Equipment Sector Rajesh Jejurikar said, "tractor demand looks positive in the near term led by the expectation of a better Rabi output, supported by crop prices and government thrust on irrigation, rural infra and agri sector.

Zoomcar prepares to be electric vehicle-driven by 2025, plans expansion

The company, which rents cars by the hour, day, week and month, has Mahindra E2O Plus and Tata E Tigor available on the platform for which it charges a subscription fee of Rs 15,000-20,000 per month

M&M rejigs top management in automotive, farm equipment divisions

Homegrown auto major Mahindra & Mahindra (M&M) on Monday announced a rejig of its top management in automotive and farm equipment sectors with its President for auto vertical Rajan Wadhera set to retire and step down from executive role. Announcing changes in the group corporate office as well as in auto and farm sectors, to be effective from April 1, 2020, the company said Veejay Nakra will be appointed as CEO of the auto division. He will have operating responsibility for passenger vehicles and entire commercial business with profit and loss accountability, except for product development process, M&M said in a statement. It further said Hemant Sikka will head the farm equipment sector, while R Velusamy will be appointed as the chief of Global Product Development (Automotive) and Vinod Sahay as Chief Purchase Officer of AFS (auto and farm sectors). Nakra, Sikka, Velusamy and Sahay will report to Rajesh Jejurikar, who will join M&M Board as Executive Director AFS from .

Anand Mahindra to assume non-executive chairman role in M&M succession plan

On April 1, 2020, Rajesh Jejurikar will join the M&M Board as Executive Director (Auto and Farm Sectors)

M&M announces board rejig, Anand Mahindra to be non-executive chairman

In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer

Nifty view & top picks by Prabhudas Lilladher: Buy Mahindra & Mahindra

Bank Nifty would have a range of 31,370-32,650

Entering commuter two-wheeler segment was a mistake, admits Anand Mahindra

Mahindra said they entered the two-wheeler market with the confidence to "win"

ITC, Mahindra & Mahindra trade close to their 52-week lows

Allahabad Bank, Gail (India), Reliance Capital, PC Jeweller, Ashoka Buildcon and Indostar Capital were among 11 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE.

Mahindra & Mahindra nears 52-week low; stock slips 12% in one month

In past one month, M&M has underperformed the market by falling 12 per cent as compared to a marginal 0.33 per cent rise in the benchmark S&P BSE Sensex.