Mahindra & Mahindra is in talks with British International Investment (BII) and some other investors to raise Rs 5,000 crore for its electric vehicles (EV) unit, The Economic Times (ET) reported on Monday.
If the deal goes through, it will be BII's second round of investment in India's biggest sports utility vehicle maker by revenue. Its earlier fund infusion was done at a valuation of Rs 70,070 crore. The new deal is expected to value the company at 10-15 per cent more than that.
Mahindra South Africa has set a new record for monthly sales since it first started selling its range of automotive vehicles in the country 18 years ago.
Figures released by the National Association of Automobile Manufacturers of South Africa (NAAMSA) showed that Mahindra hit a new all-time best sales figure of 1,010 in January 2022. This is a massive 77% improvement over the same month in 2021 and comes despite severe stock shortages and other COVID-19-related disruptions.
Shares of Mahindra & Mahindra (M&M) were up 3 per cent at Rs 919.80 on the BSE in Wednesday’s intra-day trade, surging 7 per cent in past two trading days after the company reported an over eight-fold increase in its standalone profit after tax (PAT) at Rs 1,432 crore for the second quarter ended September 30, 2021 (Q2FY22), on the back of robust sales. It had posted a standalone PAT of Rs 162 crore in Q2FY21.
The company’s revenue for the second quarter rose by 15 per cent to Rs 13,305 crore as against Rs 11,590 crore in the year-ago period.
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.
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.
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