| Mahindra India Related news |
Mahindra reports net loss of Rs 3,255 crore in Q4, down from Rs 969 crore profit in FY19
Posted on 13th June 2020 |
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Mahindra & Mahindra (M&M) on Friday reported a consolidated net loss of Rs 3,255.02 crore for the January-March quarter of financial year 2019-2020.
In the January-March period of 2018-19, the company had posted a net profit of Rs 969.25 crore.
M&M said in a regulatory filing that revenue from operations declined to Rs 9,004.72 crore during the fourth quarter compared with Rs 13,807.88 crore in the same period of corresponding fiscal. |
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M&M up 12% after it rejects plan to infuse fresh equity in South Korean-arm
Posted on 7th April 2020 |
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Shares of Mahindra & Mahindra (M&M) jumped 12 per cent at Rs 316 on the BSE on Tuesday after the company’s board turned down a proposal to pump in fresh equity of $406 million in its ailing South Korean subsidiary SsangYong Motor Co (SYMC) amid the ongoing Covid-19 crisis.
Given the current and projected cash flows, the M&M Board took a decision that the company will not be able to inject any fresh equity into SYMC and has urged SYMC to find alternate sources of funding, the company said in a regulatory filing on Friday after market hours. |
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Sensex rallies over 1,100 points, Nifty trading above 8,400
Posted on 7th April 2020 |
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Equity benchmark Sensex rallied over 1,100 points in early trade on Tuesday as banks, IT and auto stocks led the gains on global cues.
After hitting a high of 28,963.25, the 30-share BSE barometer was trading 1,165.92 points or 4.23% higher at 28,756.87. The NSE Nifty soared 337.20 points, or 4.17%, to 8,421.00.
IndusInd Bank, Mahindra and Mahindra, HCL Tech, ICICI Bank, Axis Bank and Infosys were the top gainers in the Sensex pack. Bajaj Finance was the sole loser. |
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Mahindra's in-house 'affordable' ventilator test starts, to go for govt approval soon
Posted on 31st March 2020 |
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In an attempt to help the Government of India to fight the novel coronavirus pandemic, Mahindra group has come up with in-house ventilators, that will play a crucial role during these unprecedented times.
Mahindra's Igatpuri and Mumbai teams are working on an affordable respiratory device project and have already prepared the first ventilator prototype within days of the official announcement. |
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Cricketer Ajinkya Rahane invests in Mahindra's agri firm MeraKisan
Posted on 12th March 2020 |
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Mahindra Group’s MeraKisan, an organic agri producer, has partnered with Ajinkya Rahane, Vice-Captain of the Indian Test Cricket team.
As part of this partnership, Ajinkya has invested and will own equity in MeraKisan and would also be its brand ambassador. |
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M&M hits 52-week low after February auto sales numbers, recovers later
Posted on 2nd March 2020 |
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Shares of car-maker Mahindra and Mahindra hit a fresh 52-week low of Rs 444.6, down 2.5 per cent on the BSE on Monday, in an otherwise strong market, after the company's total sales in February plunged 42 per cent year-on-year (YoY). The sales stood at 32,476 units in the previous month, as against 56,005 units sold in the same month last year, M&M said in a statement. |
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Mahindra CIE Automotive slips over 8% post December quarter results
Posted on 27th February 2020 |
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Shares of Mahindra CIE Automotive, the automotive components supplier, declined 8.5 per cent to Rs 129 apiece on the BSE on Thursday after the company reported 91 per cent year-on-year (YoY) fall in its consolidated net profit at Rs 12.6 crore for the quarter ended December 31, 2019 (Q3FY19). The company had posted profit of Rs 142 crore in the year-ago period.
Profit before tax (PBT) for the quarter under review stood at Rs 121.5 crore, down 33 per cent against Rs 182 crore logged in the corresponding quarter of the previous fiscal. |
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Entering commuter two-wheeler segment was a mistake, admits Anand Mahindra
Posted on 12th December 2019 |
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Anand Mahindra, the chairman of the homegrown auto group Mahindra & Mahindra, on Wednesday admitted that entering the commuter bike segment more than a decade ago was a failure on the part of the group.
The group entered two-wheelers after buying out Kinetic Motors in July 2008 and relaunched the 'Freedom' bikes under the label of 'Mojo' but has not been able to make a mark in the vastly entry-model driven two-wheeler space in the country even after a decade. |
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Mahindra & Mahindra nears 52-week low; stock slips 12% in one month
Posted on 6th December 2019 |
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Shares of Mahindra & Mahindra (M&M) slipped 2 per cent to Rs 512 on the BSE on Friday and was trading close to its 52-week low level. The car & utility vehicles maker's stock is less than 2 per cent away from its 52-week low price of Rs 503, touched on August 14, in intra-day trade.
In past one month, M&M has underperformed the market by falling 12 per cent as the company's tractor sales delivered disappointing performance. |
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Mahindra & Mahindra gets patent for solar power system on vehicle rooftops
Posted on 31st October 2019 |
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Automobile maker Mahindra and Mahindra Ltd has received a patent for its multimodal solar power system, which reduces the electric load demand on vehicle battery, and supports the operation of an air-conditioner. This innovation will help increase the life of vehicle batteries and reduce greenhouse gas emissions. |
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