11 stories mentioning BOM:500520Updated just now
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Mahindra & Mahindra (NSE:M&M, BOM:500520) said its defense business incorporated Novavayu Aerospace as a step-down subsidiary to expand its presence in the aerospace sector, according to a Thursday exchange filing.Novavayu Aerospace will manufacture aircraft and aerospace products and provide related services.
Mahindra & Mahindra (NSE:M&M, BOM:500520) approved the transfer of its truck and bus division to subsidiary SML Mahindra (NSE:SMLMAH, BOM:505192) for 5.25 billion Indian on a slump sale basis.The transaction will involve the transfer of the business undertaking, including employees, assets, intellectual property, contracts, licenses and liabilities, under a business transfer agreement expected to be executed by Aug. 7, according to an Indian bourse filing on Wednesday.The proposed sale is expected to be completed by Jan. 31, 2027.SML Mahindra jumped over 20% in after-market hours while Mahindra & Mahindra fell nearly 2%.
Mahindra Lifespace Developers (NSE:MAHLIFE, BOM:532313), a subsidiary of Mahindra & Mahindra (NSE:M&M, BOM:500520), has incorporated Mahindra Kandivali Developers as a wholly owned subsidiary to undertake construction business activities, according to a stock exchange filing on Tuesday.The new entity was incorporated in Mumbai on June 29 and has become a step-down subsidiary of Mahindra & Mahindra.
Indian benchmark indices closed sharply lower on Monday as selling pressure in financial and automobile stocks weighed on sentiment.The BSE Sensex fell 508.40 points, or 0.7%, to close at 74,267.34, while the NSE Nifty 50 declined 165.15 points, or also 0.7%, to settle at 23,382.60.Market sentiment remained under pressure amid weak global cues and continued foreign portfolio investor outflows. Elevated crude oil prices and the absence of a breakthrough in the Middle East conflict also kept investors cautious.On the economic front, India's manufacturing sector expanded at a faster pace in May. The HSBC India Manufacturing Purchasing Managers' Index rose to 55.0 from 54.7 in April, supported by stronger growth in output, new orders, and purchasing activity.Among corporate developments, Mahindra & Mahindra (NSE:M&M, BOM:500520) reported a 20% year-on-year increase in total vehicle sales for May to 99,636 units. Passenger vehicle sales rose 11% to 58,021 units, while exports climbed 37% to 5,000 units.Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) said total sales increased 20% year on year to 461,257 units in May. Domestic sales rose 10% to 248,031 units, while exports advanced 34% to 213,226 units.
Mahindra & Mahindra's (NSE:M&M, BOM:500520) overall auto sales grew 20% year-on-year in May to 99,636 vehicles, according to a Monday filing to the Indian bourses.The company's passenger vehicle sales grew 11% to 58,021 units in May from 52,431 units sold a year earlier.Of the total, total exports were up 37% year-on-year in May at 5,000 units from 3,646 units.In a separate filing, the company said its tractor sales were up 22% at 49,695 units in May from 40,643 units a year ago. Domestic tractor sales were up 23% over the previous year to 47,845 units in the reported month, while exports grew 7% to 1,850 units.The company's shares were down over 1% in recent trade.
Mahindra & Mahindra (NSE:M&M, BOM:500520) has teamed up with Manulife Holdings (Bermuda) to set up Mahindra Manulife Insurance, a 50:50 joint venture, to undertake life insurance business, according to an Indian bourse filing on Sunday.Shares of Mahindra & Mahindra fell nearly 1% in Monday's trade.The JV has an authorized and paid-up capital of 10 million Indian rupees, divided into 1 million equity shares, the filing said.Mahindra & Mahindra and Manulife Holdings (Bermuda) have each subscribed to 50,000 equity shares for an investment of 5 million rupees each, it added.
Indian automobile-to-farm equipment conglomerate Mahindra & Mahindra (NSE:M&M, BOM:500520) has appointed Purnima Lamba as the chief brand officer of the company with effect from Sept. 1, according to a Wednesday filing to the Indian stock exchanges.Lamba joins the company after a 25-year career at Unilever, where she held senior leadership roles across India, the UK, and the Netherlands.
Mahindra & Mahindra (NSE:M&M, BOM:500520) has an average rating of buy and mean price target of 4,199.90 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Mahindra & Mahindra (NSE:M&M, BOM:500520) has an average rating of buy and mean price target of 4,199.90 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Indian benchmark indices ended lower on Tuesday as profit booking in financial heavyweights and renewed U.S.-Iran tensions weighed on sentiment.The BSE Sensex fell 251.61 points, or 0.3%, to close at 77,017.79, while the NSE Nifty 50 declined 86.50 points, or 0.4%, to settle at 24,032.80.Markets remained volatile through the session amid weak global cues, elevated crude oil prices, and continued uncertainty around potential U.S.-Iran talks. Investors tracked the latest set of March-quarter earnings.Among stocks, Mahindra & Mahindra (NSE:M&M, BOM:500520) gained over 3% after reporting a rise in consolidated profit to 46.7 billion rupees in fiscal Q4 from 33.0 billion rupees a year earlier. Revenue from operations increased to 549.8 billion rupees from 426.0 billion rupees.Force Motors (NSE:FORCEMOT, BOM:500033) fell nearly 2% after reporting a 4.3% year-on-year decline in total vehicle sales to 3,113 units in April.
Mahindra & Mahindra's (NSE:M&M, BOM:500520) consolidated attributable profit rose to 46.7 billion Indian rupees in the fiscal fourth quarter ended March 31, from 33.0 billion Indian rupees a year ago.Earnings per share climbed to 41.48 rupees from 29.04 rupees a year earlier, the auto-to-defense manufacturing conglomerate said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also increased to 549.8 billion rupees from 426.0 billion rupees a year ago.The company's board recommended a final dividend of 33 rupees per ordinary equity share of the face value of 5 rupees each for the financial year ended March 31.The company's shares were up nearly 1% in recent trade.
