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 ...
M&M said its sales volume for the quarter ended June 2021 is estimated to be lower by 15-20 per cent as compared to the year-ago period due to the second wave of the coronavirus
Tata Consultancy Services (TCS) on Friday said Samir Seksaria will take over as the company's Chief Financial Officer on May 1, 2021
Tata Consultancy Services (TCS) on Friday said Samir Seksaria will take over as the company's Chief Financial Officer on May 1, 2021
SsangYong applied to the court in December for receivership after it defaulted on a loan repayment
Mahindra South Africa has reaffirmed its faith in the South African market by opening a new national parts warehouse that is a third larger than its old facility
Anish Shah says the exercise of exiting loss-making international subsidiaries is almost done
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 .
Mahindra & Mahindra on Monday said VS Parthasarathy, the President of its Mobility Services Sector and Member of the Group Executive Board, has decided to leave the group effective close of April 1, 2021 to pursue personal interests. Parthasarathy, who joined the Mahindra group in 2000 and began with an HR stint, has expressed desire to leverage his rich professional experience to consult, mentor, build and scale businesses and initiatives across business, education and society in the next phase of his career, M&M said in a regulatory filing. He was spearheading the newly formed Mobility Services Sector (MSS), a growth driver and incubation platform for future investments by the Mahindra group in technology-driven mobility companies, with the vision of co-creating the 'Future of Mobility'. It includes all mobility businesses within the group, including Mahindra Logistics and the erstwhile aftermarket sector, Mahindra First Choice Wheels and Mahindra First Choice Services, and .
M&M expects the industry to log around 20 per cent YoY volume growth in the tractor segment for FY21E
IRFC has sold $750 million worth of dollar-denominated bonds to overseas investors priced at a coupon of just 2.80 per cent per annum
The tractor demand continues to be strong with expansion in Rabi acreage, very high reservoir levels and higher liquidity in the hands of farmers with timely Kharif procurement
According to Phillip Capital increased allocation for capital expenditure will bode well for large banks, namely ICICI Bank, Axis Bank, HDFC Bank and State Bank of India
The sharp increase in prices of major commodities such as steel, aluminum, copper and rubber may dent auto industry's Q3 results
On Monday, Maruti Suzuki increased the price for select models by up to Rs 34,000 to offset adverse impact of rising input costs
The price will increase by around 1.9 per cent, resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant
Company says may sign term sheet next week, deal is more or less agreed; Post sale, Mahindra will hold less than 30% in the firm
Tractor stocks such as M&M and Escorts are indicating a bullish outlook for coming sessions
The shares of auto companies will remain in focus today after a host of companies are scheduled to release auto sales figures for December 2020
A strong close above Rs 770 in M&M may trigger a rally Rs 825 levels