Page 11 - M&m

Market Ahead, June 8: Top factors that could guide markets this week

The SGX Nifty is indicating a gap-up open today with the Nifty likely to open at around 10,260 levels on the back of firm global cues

India Inc wants govt to shift focus to economy amid Covid-19 outbreak

CEOs warn of economic depression, say need to work within new normal

Maruti Suzuki, M&M beat year-end blues, post rise in domestic sales figures

The country's largest carmaker Maruti Suzuki India and Mahindra & Mahindra on Wednesday reported rise in their domestic sales in December, even as Hyundai and Totoya posted negative growth. Beating the year-end blues Maruti Suzuki India (MSI) said its domestic sales were at 1,24,375 units in December as against 1,21,479 units in the same month a year ago, registering a growth of 2.4 per cent. The company said its compact segment comprising New WagonR, Swift, Celerio, Ignis, Baleno, Dzire recorded sales of 65,673 units last month as compared to 51,346 units in December 2018, a growth of 27.9 per cent. Sales of utility vehicles, including Gypsy, Ertiga, XL6, S-Cross and Vitara Brezza, were at 23,808 units as compared to 20,225 units in the same month in 2018, a growth of 17.7 per cent. However, the mini segment comprising Alto, S-Presso and Old WagonR witnessed a decline of 13.6 per cent at 23,883 units as compared to 27,649 units in December 2018. Mahindra & Mahindra also ...

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)

Top headlines: M&M's board rejig, Fitch lowers India GDP growth, and more

In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of CEO for a year

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 & Mahindra launches BS-VI compliant XUV300 at Rs 8.30 lakh

Mahindra & Mahindra Ltd on Tuesday launched its first BS-VI compliant vehicle in the form of its compact SUV, XUV300 with price ranging from Rs 8.30 lakh to Rs 11.84 lakh. The BS-VI version of the XUV300 will be available on all its 1.2 litre turbo petrol offerings, Mahindra & Mahindra (M&M) said in a statement. Mahindra is proactively transitioning its mobility portfolio to BS-VI emission standards in a phased manner, well ahead of the statutory timeline of April 1, 2020, it added. Commenting on the launch, M&M President, Automotive Sector Rajan Wadhera said, "It is a milestone in our BS-VI transition journey. Despite tight timelines, we along with our suppliers, have met the challenging requirements of these tighter emission norms, much ahead of the stipulated timeline." He further said, "We will progressively upgrade our entire range with cleaner emissions technology.

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 & Mahindra gets patent for solar power system on vehicle rooftops

These solar panels are fixed atop vehicle roofs to act as supplementary power source for electrical load demand without impacting the vehicle's aerodynamics

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

Nifty Outlook & top trading ideas by CapitalVia: Buy Apollo Hospitals, M&M

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor

M&M offers subscription-based SUVs in a bid to target younger generation

Joins automakers Tata Motors, Volkswagen, Nissan in launching services on select models

M&M offers its personal cars on monthly subscription to boost demand

Home-grown auto major Mahindra & Mahindra rolled out on Thursday a subscription-based service for retail buyers of its personal range of vehicles to boost plummeting demand. The vehicles under the scheme, which has initially been launched for its customers in Delhi (NCR), Mumbai, Pune, Bengaluru, Hyderabad, Kolkata, Chandigarh and Ahmedabad, will be available at a subscription price starting from Rs 19,720 per month, the company said in a release. The scheme covers models like KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4, which will be available for a period of one to four years in case of a new car, it said. We are introducing an all-new subscription model for retail customers of our personal vehicles. With this flexible, affordable offering, we hope to help our customers fulfill their aspiration of driving their desired vehicles without necessarily owning them," said Veejay Ram Nakra, chief of sales and marketing for the automotive division at ..

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 .

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

Apr-July passenger vehicle output down 13.2% on Maruti, M&M production cuts

Passenger vehicles production in India was down 13.18 per cent in April-July this fiscal with top manufacturers such as Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Ford, Toyota and Honda reducing output massively. Hyundai Motor India Ltd (HMIL) and Volkswagen India were the only two main manufacturers which saw production grow marginally during the period, according to the latest data by the Society of Indian Automobile Manufacturers (SIAM). Total Passenger vehicles (PV) production in the April-July period stood at 12,13,281 units as against 13,97,404 units in the same period last fiscal, down 13.18 per cent, SIAM said. Market leader Maruti Suzuki India's (MSI) production during the period stood at 5,32,979 units, down 18.06 per cent from the comparable period last fiscal. Mahindra & Mahindra (M&M) also curtailed its production by 10.65 per cent at 80,679 units, while that of Ford India stood at 71,348 units, down 25.11 per cent from the year-ago period. Tata Motors' .

Amid slowing sales, carmakers fear fee hike will further dent demand

The draft notification proposes to increase the registration fees from Rs 1,500 to Rs 20,000 for new M&HCVs and from Rs 1,500 to Rs 40,000 for renewals

Muted outlook to weigh on M&M stock; price hikes to make matters worse

In addition to the cut in the GST from the current 28 per cent, the company hoped for scrappage policy to boost demand

M&M consolidated PAT falls 52.56% in June quarter to Rs 894 over weak sales

Mahindra & Mahindra on Wednesday reported a 52.56 per cent decline in consolidated profit after tax to Rs 894.11 crore in the first quarter ended June 30, hit by lower vehicle sales. The company had posted a consolidated profit after tax of Rs 1,884.66 crore in the same quarter of the previous financial year, Mahindra & Mahindra said in a regulatory filing. Its total income during the period stood at Rs 26,289.48 crore as compared with Rs 26,260.64 crore in the corresponding quarter a year ago. In the first quarter, M&M said its total vehicle sales stood at 1,23,690 units as against 1,30,484 units in the year-ago period, down 5 per cent.