Page 39 - Mahindra & Mahindra

Mahindra Group launches 'Prerna' empowerment project for women farmers

Mahindra & Mahindra today said it has launched a programme, Prerna, to empower women working in the agriculture sector by promoting efficient and ergonomic farm tools and equipment. "The project will be initially launched in the state of Odisha, with the intention to positively impact the lives of over 1,500 families across 30-plus villages," Mahindra & Mahindra said in a statement. The company, which is part of the USD 19 billion Mahindra Group, yesterday celebrated the 'Mahila Kisan Diwas' with the launch of this programme. The first project under Prerna is a collaboration between Mahindra & Mahindra, the Central Institution for Women in Agriculture (CIWA), a department of the Indian Council of Agricultural Research (ICAR), and the NGO Pradan (Professional Assistance for Development Action). The company said that there are 100 million women and many of them work long hours in the fields, often with tools and equipment not suited for women. The first project

Haven't made any decision on phase two of contract with EESL: M&M MD

Mahindra & Mahindra (M&M) today said it is yet to take a call on taking part in the second phase of tender bidding for supplying 9,500 electric vehicles (EVs) to the state-run Energy Efficiency Services Ltd (EESL), saying it would lose money with the present cost structure. The orders for supply of 9,500 electric cars in the second phase will be issued after the completion of deliveries of 500 EVs in the first phase. Mahindra & Mahindra will supply 30 per cent of the 500 cars in the first phase of the tender as it is finding it difficult to match the price being offered per unit by Tata Motors. The utility vehicle major said it will have to take a "hard look" at how it could justify participating in the next phase of the tender. In the first phase, Tata Motors would supply 250 cars while M&M would pitch in with 150 units of e-Verito. "We were offered 50 per cent of the tender (500 units) in the first phase but we opted for 30 per cent as we would be ...

M&M bags EESL contract to supply 150 e-sedans; matches TaMo's Tigor price

EESL to source 150 eVeritos in phase I while Tata Motors will supply the remaining 350 electric Tigors

M&M to drive ahead on tractor growth, low valuations

Volumes in UVs also expected to rise with new launches next year

M&M to buy Turkish tractor firm for Rs 815 crore

Firm to acquire firm's foundry business for Rs 328 cr

M&M to acquire tractor manufacturing, foundry firms in Turkey for Rs 735 cr

Mahindra & Mahindra (M&M) today said it has signed pacts with Turkey-based Erkunt group to acquire its tractor manufacturing and foundry businesses from for about Rs 735 crore. M&M said it will acquire Erkunt Traktor Sanayii for Rs 478 crore, a move which is aimed at entering the fourth largest tractor market in the world. Besides, it has inked a share purchase agreement to acquire 80 per cent stake in Erkunt Sanayi AS for Rs 257 crore. The entity is engaged in production of engine blocks, cylinder heads and transmission cases. M&M said it will acquire 100 per cent share capital of Erkunt Traktor thus giving it access to Turkish market. "Through this acquisition, the company would also acquire a wide product portfolio," M&M said in a regulatory filing. The transaction is expected to be closed by November 30, 2017. Established in 2003, Erkunt Traktor manufactures and markets tractors under Erkunt brand in Turkey. It also exports ...

M&M sales up 3.75% at 42,116 units in August

Auto major Mahindra & Mahindra today reported a 3.75 per cent increase in total sales at 42,116 units in August. The company had sold 40,591 units in the same month last year, the company said in a statement. In the domestic market, sales were up 7.01 per cent at 39,534 units last month as compared to 36,944 units in August 2016. Exports were down 29.72 per cent at 2,582 units in August against 3,674 units in the same month last year. Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were up 5.91 per cent at 19,325 units as compared to 18,246 units in the same month last year. Commercial vehicle sales were up 16.50 per cent at 16,303 units in August against 13,993 units in the year-ago period, M&M said. M&M President Automotive Sector Rajan Wadhera said the upsurge in demand has been due to good monsoons and rural penetration. "Our brands continue to gain traction despite several external challenges. As we get into festive season, we ..

Mahindra launches new tractor brand Trakstar from Gujarat arm

Trakstar will be offered in five segments within 30-50 horse power category

Mahindra & Mahindra vehicles to get smarter with Android Auto

The automaker has joined hands with Google to better the connectivity options for its users

M&M: Tractors to keep growth engine going

Muted June quarter marred by GST compensation, one-offs and utility vehicle underperformance

M&M overall July sales rise 6% at 41,747 units

Leading SUV manufacturer Mahindra & Mahindra (M&M) on Tuesday reported an increase of six per cent in its overall sales for July.

M&M rallies 6% post Q4 on robust outlook for FY18; top index gainer

The company has a robust outlook for FY18, assuming a favourable global and domestic backdrop

M&M: Tractor sales help beat Street estimates

Robust outlook for segment masks weak UV prospects

Mahindra & Mahindra Q4 PAT rises about 20%

REUTERS - Automaker Mahindra & Mahindra Ltd posted a nearly 20 percent rise in fourth-quarter profit after tax on Tuesday, beating analysts' estimate.

GST: M&M to set up new battery assembly unit near Pune after 12% levy

Automaker will invest in building long-range electric vehicles, high-power battery packs

Mahindra pulls the plug on electric car sales in UK

LONDON/NEW DELHI (Reuters) - Mahindra & Mahindra has stopped selling its electric car in the United Kingdom due to meagre sales and is winding up operations there, according to a document seen by Reuters, in a setback for the Indian automaker's global ambitions.

M&M sales decline 6% to 39,357 units in April

Auto major Mahindra & Mahindra today reported a 6 per cent decline in total sales at 39,357 units in April. The company had sold 41,863 units in the same month last year, the company said in a statement. In the domestic market, sales were down 4 per cent at 37,829 units last month compared to 39,357 units in April 2016. Exports were down 39 per cent at 1,528 units in April against 2,506 units in the same month last year. Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, were down 15 per cent at 19,325 units compared to 22,655 units in the same month last year. Commercial vehicle sales were up 16 per cent at 15,066 units in April against 12,947 units in the year-ago period, M&M said. M&M President Automotive Sector Rajan Wadhera said the company expects that the new financial year will bring in positive sentiments for the automotive industry with the key demand drivers in place. "Factors such as the ongoing infrastructure development ...

Mahindra Electric sees 3-fold jump in e-vehicle sales, partners Zoomcar

This year Mahindra's focus would be to create mobility solutions

M&M: Tractor show, new launches could lead to rerating

The Mahindra & Mahindra (M&M) stock could see upsides going ahead given the outlook for its farm equipment business, new utility vehicle launches as well as valuations which are at the bottom of the list of large cap auto makers. Further, the March sales numbers, too, were better-than-expected due to higher tractor sales (which are more profitable) and traction in its commercial vehicles, which were up by 31-32 per cent year-on-year. The six per cent fall in utility vehicle (UV) sales was expected given the lack of new launches. What helped cushion the fall was the disposal of BS-III inventory. Across product categories, M&M has indicated that it was able to sell half of the inventory valued at Rs 2,000 crore at discounts of up to 15 per cent and is still left with about 18,000 units. Given that not all of this will either be exported or be converted to BS-IV, the company would have to take a short-term hit.Analysts are, however, bullish on M&M's prospects given ...

Note ban makes Mahindra sales veer off course

The overall PV industry has also seen some softening in the growth after demonetisation