Indian car maker Mahindra and Mahindra said on Thursday it expects a 20%-25% drop in September vehicle production at its automotive division due to semiconductor shortages.

Car makers across the world have been hit by semiconductor shortages and warned of further pain due to stiff competition from the sprawling consumer electronics industry for chip deliveries.

Mahindra & Mahindra on Friday reported a consolidated net loss after tax from continuing and discontinued operations at Rs 331.74 crore in the first quarter ended June 30.

The company had posted a consolidated net profit after tax from continuing and discontinued operations at Rs 54.64 crore in the first quarter last fiscal, M&M said in a regulatory filing.

Shares of Mahindra & Mahindra (M&M) rallied 10 per cent to Rs 952 on the BSE in Monday's intra-day trade after the firm reported a healthy operational performance in the October-December quarter (Q3FY21).

The stock of cars and utility vehicles company surpassed its previous high of Rs 893 touched on February 4.

Diversified Mahindra Group on Friday said it has registered interest to seek COVID-19 vaccines for its employees, as per priorities and sequence to be specified by the government.

The farm equipment-to-aerospace conglomerate said it would take the responsibility for the inoculation of its employees rather than have the government subsidise them.

Mahindra & Mahindra (M&M) on Monday said it will hike prices of its its range of tractors from next month in order to partially offset the impact of rise in input costs.

In a regulatory filing, M&M's Farm Equipment Sector said, effective January 1, 2021, it will increase the price of its range of tractors, across models.

Mahindra and Mahindra (M&M) is expecting reduction in production and sales volume at its automotive division and in its wholly-owned subsidiary in the last quarter of the current fiscal due to global supply shortage of micro-processors.

M&M said it is engaging closely with its auto components supplier Bosch and assessing likely production loss.

Shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 731, up 4 per cent on the BSE in the early morning trade on Tuesday on the expectation of a strong business outlook. In the past one week, the stock has outperformed the market by gaining 14 per cent, as compared to a one per cent rise in the S&P BSE Sensex.

M&M, on November 17, said that the company’s Farm Equipment Sector (FES) will manufacture a new tractor series called the ‘K2’, exclusively at the company’s tractor manufacturing facility at Zaheerabad in Telangana.

Mahindra & Mahindra is planning to list 10 of its units in the next 2-7 years as it looks to increase shareholders’ return on equity, reports Mint.

M&M has chosen 10 firms from sectors such as financial services, infrastructure, and clean energy, the company’s Group Chief Financial Officer and Deputy Managing Director Anish Shah told Mint in an interview.

Mahindra & Mahindra Financial Services’ net profit rose by 21 per cent to Rs 304 crore in the second quarter ended September (Q2Fy21), from Rs 252 crore in the same quarter a year ago.

The provisions and write-offs stood at Rs 619.4 crore in Q2Fy21, up from Rs 360.7 crore in the year-ago period. It made higher level of impairment provisions of Rs 433 crore during quarter through management overlay to reflect deterioration in the macroeconomic outlook.

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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