Tag: auto maker

Shares of Mahindra & Mahindra (M&M) hit a new high of Rs 1,191.90 after they rallied 5 percent on the BSE in Friday's intra-day trade. This comes after the company the automaker inked a pact with the British International Investment (BII) to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major, focusing on four-wheel passenger electric vehicles.BII will invest up to Rs 1,925 crores in the form of compulsory convertible instruments at a valuation of up to Rs. 70,070 crores, resulting in 2.75% to 4.76% ownership for BII in the EV Co.," M&M said in a stock exchange filing. The total capital infusion for the EV Co. is envisaged to be approximately Rs 8,000 crores / $1 billion between FY24 and FY27 for the planned product portfolio. Read more

Shares of Mahindra & Mahindra hit a new high of Rs 1,095, up 2.3 percent on the BSE in Monday’s trade, and outperformed the market on a strong business outlook. In the past week, the stock rallied 12 percent, With this, M&M has zoomed 63 percent over three and a half months. Earlier, the stock had hit a 52-week low of Rs 671 on March 8, 2022.M&M is a conglomerate with a presence in auto, IT, financial services, logistics, hospitality, and real estate among others. At a standalone level, it is India’s largest tractor manufacturer with around 40 percent market share in FY22 and the second-largest commercial vehicle (CV) maker. The management said the company is witnessing strong bookings and have a robust pipeline. We announced the launch of Scorpio-N, which is generating very high-interest levels and promises to be yet another blockbuster from Mahindra. The company’s commercial vehicles have also registered strong growth across segments. . Read more

Shares of Mahindra & Mahindra (M&M) gained 5 percent to Rs 905 after the company's Net profit rose 785.15% to Rs 1431.73 crore in the quarter ended September 2021 as against Rs 161.75 crore during the previous quarter ended September 2020 due to a low base but the operating performance was hit by higher input prices. The company's revenue grew 15 percent year-on-year (YoY) to Rs 13,305 crore during the quarter under review, while earnings before interest, tax, depreciation, and amortization (EBITDA) declined 19 percent to Rs 1,660 crore. The company said it sold 99,334 vehicles during the period under review, up 9 percent from 91,536 units in the second quarter of last fiscal. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,929 crore as compared with Rs 615 crore in the Q2 of 2020-21.M&M said its auto business continues to maintain a strong booking pipeline for its key products. Read more