Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund. “XL Group will help support MIBL’s endeavours to increase insurance awareness and penetration in underpenetrated markets and across under-served customers in rural India,” the group […]
Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares. It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance. Mahindra & Mahindra Financial Services Limited (MMFSL) is […]
Mahindra & Mahindra Ltd, one of the biggest Indian automakers, reported stronger sales for its SUVs. Total utility or SUV sales for the company came in at 18,225 units, up 7% from 17,119 in August last year. With this, the company has been able to post a growth of 2% in SUV sales so far […]
Automaker Mahindra & Mahindra launched a new minivan based on its Jeeto platform, priced at Rs 3.45 lakh before taxes. At the price, the van is likely to appeal to semi-commercial users, such as schools, institutions and shops. The company already has a similar offering on its Maxximo platform, priced at Rs 3.05 lakh. The […]
Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public. The non-convertible debenture issue will open on July 10. The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings. The instruments will be offered […]
Mahindra & Mahindra Ltd said it opened a spare parts warehouse in Mahindra World City, Jaipur. “It is one of the largest warehouses in the country and the company’s first in northern India, it will cater to the requirement of Mahindra customers in north and north western region of the country for both automotive and […]
Mahindra & Mahindra said it launched its “eSupro” electric vans. There will be two models — cargo and passenger. The cargo vans are priced at Rs 8.45 lacs while the passenger variant is priced at Rs 8.75 (both Delhi ex-showroom price). The eSupro platform will cater primarily to the B2B segment and would be available […]
Mahindra & Mahindra´s agri solutions company Mahindra Univeg Pvt Ltd. said it has invested in Merakisan PVt. Ltd., an agri e-commerce start-up. Mahindra Univeg Pvt Ltd. is a 60:40 joint venture between Mahindra Agri Solutions Ltd. and and Belgium based Univeg (Greenyard Foods). It focuses on developing fresh fruit supply chain in India and imports […]
Automobile manufacturers Mahindra & Mahindra Ltd. said it raised Rs 475 crores via non-convertible debentures on private placement basis with a tenure of 10 years. The face value of the 7.57% debentures are Rs 10,00,000 each. Mahindra & Mahindra is an Indian multinational automobile manufacturing corporation based in Mumbai, Maharashtra. It is one of the […]
Mahindra & Mahindra Ltd is likely to maintain its market position in its core SUV and tractor markets despite the entry of new competitors, ratings company Crisil said. “Cost-efficient operations, development skills, broad product portfolio, and increased production capacity will enable the company to maintain its leading market position in the tractor, UV, and LCV […]
Mahindra Finance said it has received a license to operate Mutual Funds via its subsidiary Mahindra Asset Management Company. Mahindra Finance is currently engaged in vehicle financing, and is part of the Mahindra Group. It plans to tap into its existing network of dealers and customers to sell its mutual fund products. “Our customer base […]
Mahindra & Mahindra announced the launch of its mHawk new 1.99 litre diesel engine, which could help the company overcome the impact of a recent Supreme Court decision on diesel car sales. The Supreme Court had, a month ago, banned the sale of cars and SUVs with engines bigger than 2 liters (2000 cc). Most […]
India’s biggest sports utility vehicle maker said the Delhi High Court’s order banning the sale of diesel vehicles with engine sizes over 2 liter could hit its sales by about 2%. “Honourable Court’s order today affects the sales of some of the Company’s products in NCR. The vehicles affected represent about 2% of the Company’s […]
Honda Cars India Ltd, a unit of the Japanese auto giant, reported a decline in car sales for November as Mobilio sales fell by nearly 90%, bucking the trend of overall positive numbers from other players. Earlier in the day, Maruti Suzuki and Mahindra & Mahindra reported strong year-on-year growth for sales in November. Honda […]
November is turning out to be a good month for automakers in India, with Mahindra & Mahindra, India’s biggest SUV maker, reporting a 21% jump after Maruti Suzuki said sales rose 9.7% in the month. M&M total auto sales stood at 41,590 units during November 2015 as against 34,292 units during November 2014, boosted by […]
Mahindra & Mahindra has launched an automatic variant of its top utility vehicle, the XUV500. The Automatic Option will be available on 3 variants of the New Age XUV500 – W8 FWD and W10 FWD & AWD and starts at a price of Rs 15.36 lacs (ex-showroom Navi Mumbai) for the W8 FWD variant. The […]
Mahindra has unveiled the TUV300 — the company’s ‘tough’ alternative to compact SUVs like S-Cross, Fiat Avventura and Hyundai Creta. The model has been priced at Rs 6.9 lakh prior to taxes etc in Pune. The BS-V version will start at 7.25 lakhs. The high-end version costs Rs 8.4 lakhs in Pune, which is 1.4 […]
Mahindra is all set to unveil the TUV300 — the company’s competitor to the newly unveiled SUVs from Maruti Suzuki — S-Cross, Fiat Avventura and Hyundai Creta. Click below to watch the launch of TUV300 live at 11 AM today. The vehicle has been called the most refined car produced by Mahindra & Mahindra yet, […]
Mahindra & Mahindra Limited said it was signing a Memorandum of Understanding with the government of Tamil Nadu to invest Rs 2,000 crore in the state. The investment will cover a new automotive plant as well as a new Test track for Mahindra Research Valley. “The Company could also increase the investment to Rs.4,000 crores […]
Mahindra and Mahindra reported revenue of Rs. 10474 crore for the quarter ended June as against Rs. 10734 crore in the same quarter of the previous year. The Net Profit after tax fell to Rs. 831 crore as against Rs. 896 crore last year due to the absence of a one-time gain that was there […]
