Page 5 - Mahindra & Mahindra

M&M Q4 preview: Profit may surge over 300%; margins may contract QoQ

According to the monthly sales update provided by the company, Mahindra & Mahindra sold a total of 202,223 units in Q4FY21, up 33.3 per cent from the 151,713 units sold in the year-ago quarter

Maruti, Toyota, M&M remain bullish on long-term growth of used car business

Leading automakers Maruti Suzuki India (MSI), Mahindra & Mahindra and Toyota Kirloskar Motor are bullish on the long-term growth prospects of their respective used car verticals even as the second wave of COVID-19 continues to pose severe challenges to the business activities across the country. The companies remain a bit circumspect regarding the near-term situation owing to the pandemic but expect the segment to grow on a long-term basis with personal mobility gaining acceptance amid the coronavirus pandemic. "It is very difficult to predict how used car business will perform this fiscal year due to COVID situation. Demand for such cars is there in the market but there is pressure on their availability because of restrictions across states on account of lockdowns and curfews," MSI Executive Director (Sales and Marketing) Shashank Srivastava told PTI in an interaction. The auto major currently has 570 True Value outlets across the country where it certifies the pre-owned cars it .

Trading calls by Ajit Mishra of Religare Broking: Buy HDFC Bank, M&M

HDFC Bank has also rebounded sharply and surpassed the resistance zone of moving averages ribbon on the daily chart

M&M to provide financial aid to families of staff succumbing to Covid

Mahindra & Mahindra Ltd (M&M) will pay salary for the next five years besides a one-time payment of twice the annual compensation in case of any of its staff succumbing to COVID-19 under a family assistance programme, according to a letter by Mahindra Group Managing Director and CEO Anish Shah to its employees. M&M has initiated a family assistance policy for its employees, under which the company will also support children's education till Class XII with provision of up to Rs 2 lakh per annum per child for its deceased employees. "We are here to help share and lighten the burden of families who have been impacted by COVID-19. A few families had to cope with the sudden loss of a loved one and assume the unexpected responsibility of running a home. We want you to know that you are not alone, and we are here to support you," Shah wrote to M&M employees numbering around 25,000. The 'Family Assistance Policy', he said further enhances the support of one-time payment of ...

Coronavirus impact: M&M expects Q1 volumes to decline 15%-20% q-o-q

'Demand and supply for vehicles and tractors is expected to be impacted temporarily,' says the company

Maruti Suzuki, Tata Motors: Auto stocks face major hurdles amid Covid surge

Automobile and financial stocks dominate the list of companies where analysts have scaled back their earnings estimates for FY22

Second wave: M&M advances annual maintenance plant shutdown to May

Utility vehicles major Mahindra & Mahindra on Monday said it has advanced the annual maintenance plant shutdown of its automotive division to this month in the wake of the second wave of the coronavirus pandemic across the country. The maintenance of four working days was originally scheduled for June 2021, M&M said in a regulatory filing. "Due to the evolving COVID situation in the country, the company has scaled up its efforts to ensure health and safety of its employees, associates and supporting ecosystem," it said. Accordingly, the company said it has decided to advance the scheduled "maintenance of four working days, in each of its automotive division manufacturing plants, to the month of May 2021, in a staggered manner". M&M's automotive division has manufacturing units at Chakan, Nashik, Kandivali, Zaheerabad and Haridwar. "The company continues to work closely with its dealers and suppliers to minimise the impact of disruption in operations due to localised ...

Ashok Leyland's LCV gamble pays off with a little help from the pandemic

Its offering Bada Dost has helped in huge market share and volume gains

Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans

Mahindra Lifespace Developers has agreed to buy 3.2 acre land in Pune from parent company Mahindra & Mahindra as part of its expansion plan. The company said it has "finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra Ltd". The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller. This new project will offer about 3.25 lakh sq ft of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth project in Pune. Arvind Subramanian, managing director & CEO of Mahindra Lifespace Developers Ltd, said, "The proposed acquisition will help us grow our presence in this high-performing micro-market and is in line with our residential expansion strategy." Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the USD 19.4-billion Mahindra Group. The company's development ...

Mahindra to invest Rs 3,000 cr on electric vehicle business in next 3 years

Mahindra & Mahindra Ltd will put in fresh investments to the tune of Rs 3,000 crore on its electric vehicles business in the next three years, while it looks for more alliances and partnerships in the vertical, according to a top company official. M&M is working on developing on an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy. "So, for EVs we are going to invest Rs 3,000 crore additional to what we have talked about," Mahindra Group Managing Director and CEO Anish Shah told PTI. Mahindra & Mahindra Ltd had earlier said it was investing Rs 9,000 crore in auto and farm sectors in the next five years. The company, which has set a goal of putting 5 lakh electric vehicles on Indian roads by 2025, has already invested Rs 1,700 crore in the EV business in India with another Rs 500 crore on a new research and development (R&D) centre. While it has already opened its electric technologies plant in Bengaluru that produces .

Vehicle scrapping: M&M inks agreement with Mahindra MSTC Recycling

Mahindra MSTC is into acquiring used/end-of-life vehicles for dismantling and scrapping. The pact will enable M&M customers to get a hassle free and transparent deal under one roof

Best of BS Opinion: The GST puzzle, infecting public health, and more

Here's a selection of Business Standard opinion pieces for the day

Brake on diversification

M&M must focus on reviving its core automotive division

Primary focus on scaling up existing units: M&M MD & CEO Anish Shah

Anish Shah says the exercise of exiting loss-making international subsidiaries is almost done

M&M reports sale of 40,403 units in March, exports stand at 2,126 units

Mahindra & Mahindra (M&M) on Thursday said it has sold a total of 40,403 units in March. The company had dispatched 6,679 units in March 2020 amid sales disruptions due to COVID-19 pandemic. The Mumbai-based automaker sold 16,700 passenger vehicles last month in the domestic market. It had dispatched 3,383 units in March 2020. It sold 21,577 commercial vehicles in the domestic market last month. The company had dispatched just 2,742 units in March 2020 due to coronavirus-led lockdown. "At Mahindra we are witnessing very good momentum in demand and have a strong pipeline of bookings across our SUV range of Bolero, Scorpio, XUV300, All-New Thar and also the Bolero Pik-up," M&M Automotive Division CEO Veejay Nakra said in a statement. In fact Bolero volumes for March have been the highest in this financial year and despite supply constraints the company has been able to ramp up production of Bolero Pik-up significantly during the month, he added. "We expect supply challenges .

TVS Automobile Solutions revs up for the automobile aftermarket

With the acquisition of Mahindra First Choice, the subsidiary is driving its pan-India presence with tech solutions and tie-ups

Mahindra Electric Mobility to consolidate with parent M&M

The board of directors at Mahindra & Mahindra Ltd has given in-principle approval for consolidation of Mahindra Electric Mobility in the company.Mahindra Electricity Mobility is a step-down subsidiary of M & M. The consolidation will categorise EV operations in two focused verticals -- last mile mobility (LMM) and electric vehicle tech centre."Simplifying the structure will drive improvements through innovation, execution excellence, efficiencies and economies of scale," M & M said in a statement. "Additionally, it will unlock shareholder value."The initiative will provide LMM vertical with complete ownership of the value chain for last-mile mobility solutions to drive growth and execution.It will also provide EV tech centre with the depth of resources and energy with M & M's larger ecosystem of product development capability in Mahindra Research Valley (MRV) at Chennai, North America and Europe while exploring partnership and alliances.Executive Director Rajesh ...

Maruti Suzuki, Tata Group, M&M warm up to vehicle-scrapping units

Companies in talks on joint ventures and exploring tie-ups with suppliers

Stocks to watch: IDBI Bank, M&M, Prestige Estates, SBI Life, Quick Heal

M&M has got a green signal from the Reserve Bank of India to reduce its ownership in Korean automaker SsangYong Motor

Mahindra receives RBI approval to reduce stake in SsangYong Motor

The maker of XUV500 and Scorpio has got a nod from the country's central bank to reduce its stake in Ssangyong to 25 per cent from the current 75 per cent through capital reduction