Mahindra & Mahindra

M&M become first Indian firm to issue plain vanilla 50-yr bonds

M&M become first Indian firm to issue plain vanilla 50-yr bondsIndian auto giant Mahindra & Mahindra (M&M) has confirmed that it has raised Rs 500 crore through a 50-year, plain vanilla rupee-denominated bonds issue.

The bonds carry an interest rate of 9.55 per cent payable annually and does not have call or put option.

Mahindra to buy 13.5 percent stake in CIE Automotive

Mahindra-and-MahindraMumbai, June 15 : Mahindra and Mahindra Saturday said it will buy a 13.5 percent stake in component manufacturer CIE Automotive for 96.24 million euros (Rs. 738.45 crore).

"A committee of directors of the company on June 15, 2013 has approved entering into a share purchase agreement with Participaciones Internacionales Autometal, CIE Automotive and Autometal S. A.," the company said in a regulatory filling to the Bombay Stock Exchange (BSE).

Mahindra & Mahindra offers Verito Vibe in India

Mahindra & Mahindra offers Verito Vibe in IndiaIndia's largest sports utility vehicle maker, Mahindra & Mahindra (M&M) has announced the launch of its new Verito Vibe model with the entirely fresh rear design, in the Indian auto market.

Mahindra launches verito Vibe in compact sedan segment

New-Mahindra-Verito-VibeNew Delhi, June 6 : Automobile major Mahindra and Mahindra Thursday launched its maiden sub-four metres compact sedan Verito 'Vibe', priced between Rs. 5.69 lakh and Rs. 6.55 lakh (ex-showroom Delhi), and announced that it is looking forward to bring in an electric powered version of the passenger car.

"This a part of our strategy in which we introduce new models for new segments on already proven platform at an attractive price points," Pravin Shah, chief executive, automotive division, Mahindra and Mahindra, said at the launch here.

Mahindra & Mahindra to launch Verito Vibe soon

Mahindra & Mahindra to launch Verito Vibe soonIndia's largest utility vehicle maker, Mahindra & Mahindra might be planning to launch its new Verito Vibe model in the India auto market.

According to reports, the company has ready shipped the much anticipated model to the dealerships in the country even before launching it officially in the Indian market. Many people believe that as the models have been shipped to the dealerships, the company will soon begin taking orders for the model from consumers in India.

Mahindra and Mahindra's fourth quarter net profit up 1.7 percent

Mahindra-And-MahindraNew Delhi, May 30 : Automobile major Mahindra and Mahindra Thursday reported a 1.7 percent increase in net profit for the quarter ended March 31, 2013.

The net profit on a standalone basis in the quarter under review stood at Rs. 889.2 crore from Rs. 874.5 crore in the corresponding period of 2011-12.

The gross revenues and other income of the company rose by 10.5 percent in the quarter ended March 31 and stood at Rs. 11,365.8 crore from Rs. 10,288.4 crore during the corresponding quarter of 2011-12.

M&M has to modify models to avoid high SUV taxes

M&M has to modify models to avoid high SUV taxesIndian auto major, Mahindra & Mahindra (M&M) has said that it will be forced to modify its models in order to avoid higher excise duty on its SUV models.

Mahindra's April sales up two percent

Mahindra-and-MahindraNew Delhi, May 1 : Automobile manufacturer Mahindra and Mahindra Wednesday reported a two percent rise in total sales for April at 41,432 units from 40,715 off-take in the corresponding month of 2012.

"We remain cautiously optimistic of the current situation and do hope that with the much awaited and needed reduction in interest rates announcement by the RBI (Reserve Bank of India) next week, the auto industry will look up," said Pravin Shah, chief executive, automotive division, Mahindra and Mahindra.

Mahindra Verito Vibe pictures appear online

Mahindra Verito Vibe pictures appear onlineAccording to several reports, some leaked pictures of Mahindra and Mahindra's Verito Vibe hatchback have appeared on several websites on the internet.

Bloggers and enthusiast say that the pictures shows that the Verito Vibe has much C pillars than a traditional hatchback model. It appears to be another version of Verito sedan with a rear that can be best described as moderate. The upcoming Verito Vibe, which is likely to compete with the likes of Maruti Suzuki Swift, the Chevrolet Sail and the Hyundai i20, will be launched next month.

S.P. Shukla to head Mahindra Defence Systems

S-P-ShuklaMumbai, April 3 : The $15.9 billion Mahindra group Wednesday announced that S. P. Shukla will head Mahindra Defence Systems (MDS), a wholly owned subsidiary which is today regarded as a major Indian player in the Indian defence sector.

Shukla, who earlier headed the group's strategy function, has been redesignated as president - Group Strategy, Defence Sector and Chief Brand Officer.

Mahindra's 2012-13 sales up 17 percent

Mahindra-and-MahindraNew Delhi, April 1 : Automobile manufacturer Mahindra and Mahindra Monday reported an increase of 17 percent in its total sales for the last financial year -- up from 483,164 units sold in 2011-12 to 563,373 units.

"We are happy to have crossed the half-million sales mark for the first time, during FY 2012-13, given the challenges and the pressures the auto industry is currently facing," said Pravin Shah, chief executive, automotive division, Mahindra and Mahindra.

Mahindra & Mahindra launches new e2o in Delhi

Mahindra & Mahindra launches new e2o in DelhiIndia’s automotive giant, Mahindra & Mahindra has announced the launch of its new electric four seater passenger car called, e2o in the national capital, Delhi today.

The Mahindra e2o (energy to oxygen) model is developed by Reva Electric Car Company, which has been renamed Mahindra Reva Electric Vehicles. The Reva Electric Car Company had developed the model as NXR for the Indian market. The Mahindra e2o will replace REVAi and will become the most cost effective car to own in the country.

Workers go on strike at M&M Nashik plant

Workers go on strike at M&M Nashik plantWorkers at the Nashik plant of automaker, Mahindra & Mahindra (M&M) have gone on strike to demand higher wages from the management after discussions did not lead to acceptable solution.

Mahindra to invest $900m in SsangYong

Mahindra to invest $900m in SsangYongIndian automotive major, Mahindra & Mahindra has said that it is planning to invest about $900 million during the coming four to five years its SsangYong Motor unit.

The company is looking to develop three new vehicles and six engines at its unit in South Korea. Pawan Goenka, President for Automotive & Farm Equipment sectors, M&M said that the funds for the investment will come from internal accruals, fresh equity and debt.

PC Jeweller Debuts at Small Premium; Indian Market Remains Flat

PC Jeweller Debuts at Small Premium; Indian Market Remains FlatPC Jeweller stock debuted the stock exchanges today with a premium of Rs 5 for retail investors. The company raised Rs 600 crore with public issue at a price of Rs 135 per share. Retail investors were given discount of Rs 5 per share.

The stock managed to rise during the afternoon session and touched intraday high of Rs 154.70 till 2.30 pm IST.

CARE received very good response in the secondary markets.

Mahindra to acquire US partner's stake in MNAL and MNEPL joint ventures

Mahindra to acquire US partner's stake in MNAL and MNEPL joint venturesMahindra & Mahindra (M&M), India's leading utility vehicle manufacturer, has announced its decision to buy Navistar Group's stake in their two joint ventures in India, viz. Mahindra Navistar Automotives Limited (MNAL) and Mahindra Navistar Engines Private Limited (MNEPL).

M&M said it would acquire the 49 per cent stake held its US-based partner Navistar in both JVs for Rs 175 crore (around $33 million).

The Mahindra-Navistar 51:49 per cent stake MNAL and MNEPL JVs were formed in 2005 and 2007, respectively.

Mahindra & Mahindra to acquire Navistar’s stake in joint ventures

Mahindra & Mahindra to acquire Navistar’s stake in joint venturesIndian auto giant, Mahindra & Mahindra has said that it will soon acquire the stake of its US based partner, Navistar Group from their two joint ventures between the two companies.

Mahindra & Mahindra will acquire Navistar's stake in joint ventures for manufacturing of truck and buses, and engines in a deal valued at Rs 175 crore in $33 million. M&M President for Automotive and Farm Equipment Sectors, Pawan Goenka described the deal as a friendly buyout as Navistar is looking to focus on its core business activities.

Aston Martin reportedly close to hit deal with Aston’s owner Investindustrial

Aston Martin reportedly close to hit deal with Aston’s owner InvestindustrialPrivate equity fund Investindustrial is close to sign a stake deal with British sportscar manufacturer Aston Martin, three unnamed sources with direct knowledge of the matter said.

Citing unnamed sources, the Financial Times reported on Thursday that Investindustrial would acquire a 37.5 per cent stake in the iconic sportscar brand from Kuwaiti investment house Investment Dar - Aston's current owner.

Mahindra races for Aston Martin to raise its profile in international market

Mahindra races for Aston Martin to raise its profile in international marketMahindra & Mahindra (M&M) is eagerly racing to acquire a stake
in British luxury car maker Aston Martin in a bid to raise its profile
in the global market.

The Mumbai-based mergers and acquisitions
head at a US bank, who has worked with M&M, said that M&M
chairman Anand Mahindra wanted to get iconic brands to realise his
long-standing ambition to make the group a global player.

Commenting
on the reports about M&M’s interest in acquiring a stake in Aston

M&M likely to hit Aston Martin deal this week

M&M likely to hit Aston Martin deal this weekMahindra & Mahindra (M&M) is likely to hit much-rumored Aston Martin deal this week, sources with direct knowledge of the matter said.

Speaking on the condition of anonymity, three people aware with developments revealed that renowned sports-car maker Aston Martin’s owner Investment Dar Co had received competing bids from M&M and London-based private-equity fund Investindustrial for 50 per cent stake in the car maker. The sources further said that M&M was poised to overshadow Investindustrial and other contenders in the race.

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