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Mahindra & Mahindra gains for fifth straight session, hits new high
Posted on 9th July 2018
Shares of Mahindra & Mahindra (M&M) were quoting higher for the fifth straight trading days, hitting new high of Rs 940, up 2% on the BSE, after the government last week increased the minimum support price (MSP) of kharif crops for 2018-19.

In past six trading sessions, M&M has rallied 6% as compared to 1.5% rise in the S&P BSE Sensex. In past four months, it surged 29% against 7.5% rise in the benchmark index.

According to M&M, the Government’s plan to double farmer income by 2022 is expected to open many new opportunities for Mahindra’s Farm Equipment Sector.

With the Government’s strong focus on improving farm productivity and the adoption of better agricultural practices, the sector is poised for sustained growth. With a normal monsoon forecast by major global weather forecasting agencies, the Farm Equipment Sector is ideally positioned for the near and mid-term, the company said in FY18 annual report.

The Indian auto industry is expected to continue with its growth momentum of F18 when all segments, Passenger Vehicles (PV), Commercial Vehicles (CV), Three Wheelers (3W) and Two Wheelers (2W) reported their highest-ever sales. Excluding 2-Wheelers, the industry grew at 11.9% over the previous year, registering double-digit growth for the first time in seven years, it added.

Analysts at Prabhudas Lilladher maintain ‘BUY’ rating on M&M with a price target of Rs 1,041 as the brokerage remain confident of the company’s domestic tractor business.

“The company’s strategy for its global business ramp up further boosts our confidence as the company is focusing on products & segments which are similar to its domestic tractor portfolio. However, we continue to have concerns over M&M’s domestic UV business, although the 3 upcoming launches in this space can boost volumes ahead,” the brokerage firm said in analyst meets update.

Related Companies: Mahindra India   

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Posted on 23rd July 2018
A year since the high-profile launch of its satellite phone services, BSNL has sold 4,000 handsets, majority to government agencies, and expects the number to reach 10,000 by March 2019 riding on fresh demand from corporates and states for the premium service, its Chairman Anupam Shrivastava said.

SBI, PNB and other PSBs alert: Branches likely to be closed in these areas
Posted on 23rd July 2018
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Bajaj and Honda neck and neck for No. 2 slot
Posted on 23rd July 2018
The race for the No. 2 motorcycle manufacturer in the domestic market is almost mirroring a see-saw battle between Bajaj Auto and Honda Motorcycle and Scooter India (HMSI) since the beginning of FY18 and the battle continues on the same lines in the current fiscal also. The country’s annual 20-million-unit-strong motorcycle market has three major players — Hero MotoCorp with a market share of 51.5%, followed by Bajaj Auto at 15.6% and HMSI at 15.5%.

Green panel rejects Bharat Coking Coal’s proposal to amend environment clearance
Posted on 23rd July 2018
The government’s green panel has disapproved amendments to the environment clearance sought by Bharat Coking Coal for its Jharia Coalfields in Jharkhand due to the absence of forest clearance, as per the official document. The company’s proposal was to amend the existing environment clearance given for the cluster XI group of mines that has a peak production capacity of 6.6 million tonnes per annum (MTPA) and Moonidih water capacity of 1.6 MTPA.

Customise your car: Tata Motors to let buyers configure their Harrier SUVs
Posted on 23rd July 2018
Tata Motors will soon shift gears to “Do it Yourself” (DIY) mode as a business strategy with the launch of Harrier, a five-seater sports utility vehicle.

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