Tata Motors, India’s biggest commercial vehicle manufacturer, is keen to enter the load aggregator space, after the sector saw its first corporate action a year ago with the entry of Mahindra & Mahindra, the country’s second-biggest CV maker.

A senior company official said that given Tata Motors’ large and loyal consumer base it makes business sense to tie up with its clients for providing this add-on service. Tata Motors is exploring the idea of making an equity investment in a start-up for which it is already talking to a few companies.

MUMBAI/NEW DELHI: From currency note conversion desks to mobile ATMs and temporary cash withdrawal counters, India Inc. is going all out to help its employees tide over the cash crunch after the government made high-denomination notes illegal two weeks ago.

The sudden invalidation of 86% of India’s currency by value, along with curbs on withdrawals from bank accounts and ATMs and on exchange of old notes, made cash scarce and resulted in long queues outside banks every day.

Homegrown auto major Mahindra & Mahindra today reported a 27 per cent jump in its standalone net profit to Rs 1,163.27 crore for the second quarter ended September 30, 2016.The company had posted standalone net profit of Rs 915.38 crore in the same quarter last fiscal, M&M said in a BSE filing.

The firm’s total standalone revenue from operations stood at Rs 11,363.63 crore during the period under review as against Rs 9,834.41 crore in the year-ago quarter, up 15.56 per cent.Unit volume sales during the quarter stood at 1,14,795, up 11.6 per cent. Utility vehicles sales were at 52,287 units, up 15.6 per cent from the year-ago period.

Mahindra & Mahindra (M&M) has moved higher by 3% to Rs 1,359 on the BSE, bouncing back 4% from early morning lows, after reporting a strong 61% year on year (YoY) growth in total tractor sales at 45,177 units in October 2016.

M&M’ Farm Equipment Sector (FES) sold total (domestic + exports) 27,280 units during October 2015, the company said in a statement.

Automobile major Mahindra hopes that the proposed GST regime will not treat electric cars as luxury items and therefore, it should be taxed accordingly.

“We hope that the upcoming GST regime will not treat electric cars as luxury items and will not be taxed at high rates,” Mahesh Babu, CEO-designate of Mahindra Electric, told reporters here today.

Mahindra First Choice Wheels Ltd (MFCWL) today announced the launch of a platform that allows buyers to participate in traditional ‘on the ground’ used-car auctions via internet in real-time.

The platform, True Time Bids (www.truetimebids.com) will significantly improve efficiency of how vehicle auctions are conducted in India today, the company said in a statement.

Mahindra & Mahindra (M&M) on Friday expanded its electric vehicle portfolio with the launch of e20 Plus hatchback priced at Rs 5.46 lakh to Rs 8.46 lakh (ex-showroom Delhi).

The company has marked the entry level P2 variant of the vehicle for fleet owners but hasn't disclosed its price yet.

Mahindra Group, the $18 billion conglomerate with businesses from India’s largest SUV maker to financial services and farm equipment, is prepared to pare stakes in its publicly traded units to facilitate fundraising by the companies.

The group is ready to cut its shareholdings in six listed entities to less than 51 percent, including Mahindra & Mahindra Financial Services Ltd., which has a market value of 210 billion rupees ($3.1 billion) — if the strategy they’re pursuing calls for it, Chief Financial Officer V.S. Parthasarathy said in an interview in Mumbai.

NEW DELHI: Homegrown auto major Mahindra & Mahindra (M&M) today launched the electric version of commercial vehicle Supro priced at 8.45 lakh (van) and Rs 8.75 lakh (passenger) in Delhi.

The prices take into account state subsidies and the incentives under the FAME (Faster Adoption and Manufacturing of Electric Vehicles) India scheme.

Utility and tractor major, Mahindra & Mahindra, has decided to acquire the European two-wheeler subsidiary company of Mahindra Two Wheelers for euro 26.3 million (about Rs 197 crore).

The Mumbai-based company has agreed to acquire 14.9 million equity shares aggregating 100 per cent of share capital of Mahindra Two Wheelers Europe Holdings (MTWL-Europe), a subsidiary of M&M.

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