Mahindra Group

Keshub Mahindra, former chairman of Mahindra & Mahindra, passed away

Keshub Mahindra passed away on April 12 at the age of 99

After pledging $955 mn on buys, Tech Mahindra to focus on integrating firms

Over the last 18 months, the company has committed $955 million to acquire 10 companies in varied deal sizes across the world

Mahindra Auto may be divided into three separate units, says report

Mahindra Group is also seeking funds for the EV unit and will club it with Italian design house Automobili Pininfarina to form a separate company, according to the report

Tech Mahindra to completely acquire Thirdware for Rs 320 cr

The acquisition is expected to bolster Tech Mahindra's digital solutions and services in automotive consulting, design, and development

SoftBank in talks with Tatas, Mahindra for stake buy in subsidiary: Misra

Japanese investor SoftBank Investment Advisers is in talks with Tatas and Mahindras for a stake buy in one of their subsidiaries, a top official said on Friday.

Mahindra Holidays to sell entire 10.76% stake in Nreach Online Services

Mahindra Holidays & Resorts India Ltd on Friday said it will sell its entire 10.76 per cent stake in Nreach Online Services Pvt Ltd for a consideration of Rs 29.31 crore to Gift Management Asia Pte Ltd. The company has entered into an agreement with Gift Management Asia for the sale of its entire investment consisting of 5,738 equity shares in Nreach Online Services, Mahindra Holidays & Resorts India said in a regulatory filing. The transaction is expected to be completed on or before July 31, 2022, it added. Nreach Online Services offers business software products to solve problems around employee rewards and recognition, channel sales incentives. Gift Management Asia Pte Ltd (Gift) is engaged in the business of loyalty programme management and development across the globe and serves the multi-faceted loyalty industry across three main functions, including loyalty issuance, exchange and payment, the filing said. "Gift to whom shares are agreed to be sold, does not belong to ..

Mahindra sets record for monthly vehicle sales in South Africa

Mahindra South Africa has set a new record for monthly sales since it first started selling its range of automotive vehicles in the country 18 years ago.

Hero Electric, Mahindra Group team up to manufacture electric vehicles

Electric two-wheeler maker will use latter's production facility to raise capacity

Mahindra group inks pact with Maha govt to set up vehicle-scrapping units

The scrappage centres will be equipped with recycling end-of-life 2/3-wheelers, passenger and commercial vehicles in accordance with all legal and environmental norms

Volume revival in utility vehicles, valuations positive for Mahindra

Margin recovery in UVs, prudent capital allocation should help improve return ratios

Mukesh Ambani ups bet on battery-swapping under agreement with Mahindra

RIL's second agreement to explore battery swapping in six months; may lead to standardisation of battery technology with OEM and fueling operator joining hands

Jio-bp and Mahindra Group sign MoU for EV and low-carbon solutions

The companies aim to explore creation of solutions on battery swapping technology for electric 3-wheelers

Bumper Diwali sales: Not revenge buying but sustainable demand

The confederation said the upswing was not triggered by 'Revenge Buying' but a 'Sustainable' demand trend.

Amazon, Apple, Mahindra join coalition to drive zero-carbon tech demand

The Coalition has been launched at the COP26 Summit being held in Glasgow

Mahindra Finance disburses over Rs 2,000 crore for second time in Aug

Mahindra & Mahindra Financial Services (Mahindra Finance) on Friday said it has disbursed over Rs 2,000 crore for the second time in a row in August. In August 2021, the business continued its momentum with a disbursement of more than Rs 2,000 crore for the second month in a row. The total disbursement at about Rs 2,150 crore delivered 57 per cent year on year growth, albeit on a lower base of August 2020, which was impacted by the first wave of COVID-19, Mahindra Finance said in a release. The collection efficiency was reported at nearly 97 per cent for August 2021, further improving to 95 per cent in July 2021. Collection efficiency in April, May and June was 72 per cent, 67 per cent, 90 per cent, respectively. "With the opening of the economy and improved mobility, the company witnessed a meaningful reduction in the NPA (non-performing assets) contracts during the month as customer cash flows improved. "We believe that this is a very encouraging sign. The company expects this

Mahindra Defence Systems bags Indian Navy contract worth Rs 1,349.95 crore

Mahindra & Mahindra Ltd on Friday said group firm, Mahindra Defence Systems Limited (MDS) has bagged a contract worth Rs 1,349.95 crore for manufacturing of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern warships of Indian Navy from the Indian government. Competitive bids from Indian companies were invited by the Ministry of Defence (MoD) through open tender wherein the systems fielded were put through detailed trials at sea to prove their capability, Mahindra & Mahindra said in a regulatory filing. Mahindra Defence would be supplying 14 IADS systems for the Indian Navy warships, it added. Commenting on the development, Mahindra Defence Systems Ltd Chairman SP Shukla said, "It is the first major contract with the private sector meant for underwater detection and protection from threats. This contract once again epitomises the success of the Atmanirbhar Bharat initiative." IADS is high-end underwater equipment that uses the latest technology along with a ...

Mahindra Group to financially compute its impact on society: Anand Mahindra

Mahindra and RIL are two Indian firms that joined 61 other global firms to commit to the core Stakeholder Capitalism Metrics released by IBC at the World Economic Forum this Jan

Mahindra & Mahindra Q1 consolidated net loss after tax at Rs 332 cr

Mahindra & Mahindra on Friday reported a consolidated net loss after tax from continuing and discontinued operations at Rs 331.74 crore in the first quarter ended June 30. The company had posted a consolidated net profit after tax from continuing and discontinued operations at Rs 54.64 crore in the first quarter last fiscal, M&M said in a regulatory filing. Consolidated revenue from operations stood at Rs 19,171.91 crore, as against Rs 11,969.04 crore in the same period last fiscal, it added. M&M said it has ceased consolidating Ssangyong Motor Co (SYMC) as a subsidiary from December 28, 2020 and has classified it as discontinued operations for all periods presented. SYMC has applied to the Bankruptcy Court in South Korea for rehabilitation proceedings and has been admitted in the Autonomous Rehabilitation Support (ARS) program. During the quarter, the company said the automotive segment had a revenue of Rs 6,050 crore, while the farm equipment segment clocked revenue of ..

Debt-ridden SsangYong Motor to sell plant site in rehabilitation efforts

The company has been under court receivership since April, as its Indian parent, Mahindra & Mahindra, failed to secure a buyer for its 75 percent stake in the automaker.

Classic Legends to develop electric version of BSA motorcycles in UK

The JV has got a grant from UK govt, which awarded BSA a £4.6-million grant to develop electric bikes