Page 13 - Mahindra & Mahindra

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.

M&M buys 36.6% in Meru for Rs 44.71 cr, to appoint majority of directors

Homegrown utility vehicles major Mahindra & Mahindra (M&M) on Thursday said it has completed acquisition of 36.63 per cent stake in Meru Travel Solutions in the first tranche as part of its Rs 201.5-crore deal to acquire 55 per cent shareholding in the radio taxi operator. In September M&M had announced signing of a share subscription and shareholder agreement for subscribing up to 55 per cent of equity share capital of Meru Travel Solutions Pvt Ltd in tranches. "...the company has today acquired 36.63 per cent of the equity share capital of Meru in the first tranche of investment, and also the right to appoint majority of the directors on the board of Meru," M&M said in a regulatory filing. M&M said it "has invested an amount of Rs 44.71 crore (in cash consideration) for the acquisition of 36.63 per cent of the equity share capital of Meru". Consequently, Meru has become a subsidiary of the company with effect from December, 5 2019. Also subsidiary companies of ...

Mahindra to deploy 50 electric vehicles on Uber's platform in Hyderabad

The two companies will be deploying 50 EVs, which include both e2O hatchback and e-Verito sedan models, in a tie-up with taxi partners such as eee-Taxi to begin with in Hyderabad.

M&M Q4 PAT declines 20% to Rs 849 cr; revenue rises to Rs 14,035.16 cr

The company had posted a PAT of Rs 1,059.09 crore in the corresponding period of 2017-18

Mahindra and Mahindra Q2 net down 27% on sales drop amid auto slowdown

Last month, larger rival Maruti Suzuki India flagged 30.2% slide in unit sales for the September quarter.

M&M recalls a batch of XUV300 units to fix faulty suspension component

It will be applicable to a batch of the models manufactured till May 2019

Mahindra to fully acquire Peugeot Motocycles for undisclosed amount

Mahindra & Mahindra (M&M) on Friday said its subsidiary Mahindra Two Wheelers Europe will fully acquire France-based Peugeot Motocycles (PMTC) for an undisclosed amount. Mahindra Two Wheelers Europe already has 51 per cent stake in PMTC. This reaffirms the commitment of the Mahindra Group to the future growth of Peugeot Motocycles, M&M said in a regulatory filing. "We are seeing positive momentum at Peugeot Motocycles. Kisbee becoming the largest selling 50cc vehicle in Europe, Peugeot Metropolis getting stronger in Europe and China, the positive market response to the new launch of the Urban GT connected Pulsion, are all cases in point," M&M President - FES & Two Wheelers Rajesh Jejurikar said. The homegrown auto major, however, did not disclose financial details. The acquisition would help the company introduce seven new products between 2019 and 2021. Commenting on the deal, Peugeot Brand CEO Jean-Philippe Imparato said: "This decision by the shareholders will ..

M&M aims to boost exports with Ford partnership, but market is in a slump

Both companies expect to achieve cost synergies, pare product development time and cost and leverage each other's distribution reach to boost exports

Rising tractor volumes drive gains for Mahindra & Mahindra stock

Fair valuation, Ford tie-up key to further upside

Mahindra & Mahindra total sales down 21% to 43,343 units in September

Homegrown auto major Mahindra and Mahindra (M&M) on Tuesday reported a 21 per cent decline in total sales at 43,343 units in September. The company had sold 55,022 units in the corresponding month last year, M&M said in a regulatory filing. In the domestic market, sales were down 21 per cent at 40,692 units last month as compared to 51,268 units in September 2018. Exports also registered a decline of 29 per cent at 2,651 units as against 3,754 units in the year-ago month. In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 14,333 units last month as compared to 21,411 units in the same month last year, down 33 per cent. In the commercial vehicle segment, the company sold 18,872 units as against 22,917 units in the same month a year ago, down 18 per cent. Reflecting on the sales performance, M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said,"we are positive that this festive season, with the onset of

Ford to transfer struggling India business to joint venture with Mahindra

Mahindra, one of India's largest automakers, will own 51 per cent of the new entity

Top 10 biz headlines: Faster GST refunds, million auto jobs at risk & more

From a single-authority mechanism for processing GST refunds to exporters coming soon to NCLT approving JSW Steel's Rs 19,700-cr bid for Bhushan Power & Steel, here are today's top business news

M&M to acquire 55% stake in Meru for cash consideration of Rs 201.5 cr

Homegrown utility vehicles major Mahindra & Mahindra is acquiring 55 per cent stake in ride hailing and radio taxi operator Meru Travel Solutions for a cash consideration of up to Rs 201.5 crore, according to a regulatory filing by the company. The company signed a share subscription and shareholder agreement on Saturday for subscribing up to 55 per cent of equity share capital of Meru Travel Solutions Pvt Ltd in tranches, Mahindra & Mahindra said in a BSE filing. Under the agreement, after investment of the first tranche in Meru, M&M will have the right to appoint majority of the directors on the board of Meru and will control its composition, it added. "Upon obtaining such right, Meru will become a subsidiary of the company," M&M said, adding subsidiaries of Meru -- Meru Mobility Tech Pvt Ltd, V-Link Automotive Services Pvt Ltd and V-Link Fleet Solutions Pvt Ltd -- would in turn also become subsidiaries of M&M. As per the filing, the acquisition will be through .

Auto sector gets a breather as FM announces measures to boost demand

Resumption of car purchase by govt departments, increase in depreciation to 30% may boost sales

M&M lays off 1,500 temporary workers, seeks govt stimulus for industry

Automobile sales in India witnessed its sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months as the sector reels

Mahindra's first automotive assembly plant in Sri Lanka inaugurated

Auto major Mahindra & Mahindra (M&M) on Saturday announced the inauguration of its local automotive assembly plant near Colombo, Sri Lanka . "Christened Mahindra Ideal Lanka Pvt. Ltd. this assembly plant is in collaboration with Ideal Motors of Sri Lanka. The assembly plant today rolled out its first product, the compact SUV, KUV100 and will roll out a slew of products over the next 3 years," the company said in a statement. "Inauguration of this automotive assembly plant is a significant milestone for Mahindra's foray into the Sri Lanka market. Sri Lanka is a key strategic market for us and we are now fully equipped to deliver products customised to local needs, on time," Mahindra & Mahindra Managing Director Pawan Goenka said. Mahindra Ideal Lanka will assemble KUV100, with a production capacity of 5,000 units per annum. The company will localise four components -- battery, tyres, seats and exhaust. The plant is expected to provide employment to 200 people directly and .