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BOM:500520

19 stories mentioning BOM:500520Updated 6d ago

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Asia

Fitch's India Unit Reaffirms Mahindra & Mahindra's Rating

India Ratings and Research has reaffirmed Mahindra & Mahindra's (NSE:M&M) long-term issuer rating and its debt at "IND AAA/Stable/IND A1+," according to a Monday bourse filing.The ratings agency, a unit of the larger Fitch Group, justified its rating of the Indian conglomerate by citing its healthy position in key business lines, robust core automotive and tractor revenue and profit growth, a diversified portfolio, improving utility vehicle market share, and a strong credit profile and liquidity.Mahindra & Mahindra is expected to see a 7% to 9% rise in revenue in fiscal years 2027 and 2028, helped by growth in its automotive and farm equipment segments, the ratings firm said.However, India Ratings flagged that certain low-margin units can weigh on overall metrics of the company and expects a turnaround in those segments to be an ongoing process through capital reallocation.Moreover, given the comfortable access to domestic banks for funds, the ratings firm believes Mahindra & Mahindra could easily refinance or pay down its debt.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra's Overall Auto Sales Climb 42% in August

Mahindra & Mahindra's (NSE:M&M, BOM:500520) overall auto sales grew 42% year-on-year in August to 107,648 vehicles, according to a Tuesday filing to the Indian bourses.The company's passenger vehicle sales grew 50% to 59,257 units in August from 39,399 units sold a year earlier.Of the total, total exports soared 71% year on year to 6,054 units from 3,548 units last year.The company said its tractor sales rose 5% to 29,507 units in August from 28,117 units a year ago.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra Unveils Scorpio Lifestyler Pickup

Mahindra & Mahindra (NSE:M&M, BOM:500520) unveiled its Global Pik Up, which will launch in India as the Scorpio Lifestyler, with prices starting below 2 million rupees, according to an Aug.14 exchange filing.The pickup is set to launch by April 2027 and is being developed for markets including Australia and New Zealand, South Africa, Africa, the Middle East, and Latin America.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra Unveils BE 6 SPORTEQ EV Series

Mahindra & Mahindra (NSE:M&M, BOM:500520) introduced its BE 6 SPORTEQ electric SUV series, with prices starting at about 1.1 million rupees under its battery-as-a-service model, according to an Aug. 15 filing.The range comprises eight variants, with ex-showroom prices of up to 2.7 million rupees. Deliveries are set to begin Aug. 26.The new series features six AI-powered TEQ Suites, including a conversational assistant powered by Google Gemini, a three-screen digital cockpit, and enhanced safety and personalization features.Mahindra said the new software and technology features will also be rolled out to existing BE 6, XEV 9e, and XEV 9S owners via phased over-the-air updates starting in January 2027.

BOM:500520NSE:M&M
Asia

Mahindra University, Educational Body Sell M&M Shares Received as Endowment

Mahindra University and Mahindra Educational Institutions sold 867,027 shares of Mahindra & Mahindra (NSE:M&M, BOM:500520) received as an endowment contribution from Anuradha and Anand Mahindra, according to a Thursday exchange filing.The shares, representing 0.07% of M&M's total voting share capital, were sold through the stock exchange.Mahindra University sold 650,270 shares, while Mahindra Educational Institutions sold 216,757 shares.Proceeds from the sale will be used for the university's educational and charitable objectives, including infrastructure, scholarships, research, student aid, and academic initiatives.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra to Create Holidays, Lifespaces Sector; Mahindra Lifespaces CEO to Lead

Mahindra & Mahindra (NSE:M&M, BOM:500520) will create a dedicated holidays and lifespaces sector to drive growth across its real estate and hospitality businesses.Managing director and chief executive officer of subsidiary, Mahindra Lifespace Developers (NSE:MAHLIFE, BOM:532313), Amit Kumar Sinha, will be appointed CEO of the sector, according to a Monday filing on Indian bourses. He will take up the role after a successor is appointed at Mahindra Lifespaces.The group's hospitality business, Mahindra Holidays & Resorts India (NSE:MHRIL, BOM:533088), has more than 300,000 vacation ownership members and has added over 1,700 rooms during the same period.

BOM:500520BOM:532313BOM:533088NSE:M&MNSE:MAHLIFENSE:MHRIL
Asia

Mahindra & Mahindra Appoints Chief Strategy Officer

Mahindra & Mahindra (NSE:M&M, BOM:500520) appointed Shveta Arya as Group Chief Strategy Officer, effective Sept. 15, according to a Sunday filing with the Indian exchanges.Arya joins Mahindra after more than 23 years of experience across automotive, travel, financial services, telecom, and management consulting. She most recently served as managing director of Cummins India and previously led strategy and M&A at Thomas Cook India, with earlier roles at Kearney and Infosys (NSE:INFY, BOM:500209).

BOM:500209BOM:500520NSE:INFYNSE:M&M
Asia

Nomura Adjusts Mahindra & Mahindra's Price Target to INR4,875 From INR4,580, Keeps at Buy

Mahindra & Mahindra (NSE:M&M, BOM:500520) has an average rating of buy and mean price target of 4,144 Indian rupees, according to analysts polled by FactSet.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra Forms Aerospace Unit Through Defense Arm

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.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra to Sell Truck & Bus Business to SML Mahindra for INR5.25 Billion

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%.

BOM:500520BOM:505192NSE:M&MNSE:SMLMAH
Asia

Mahindra Lifespace Developers Forms Unit for Construction Business

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.

BOM:500520BOM:532313NSE:M&MNSE:MAHLIFE
Asia Markets

Indian Equities Fall as Selling in Financials, Autos Weigh on Sentiment

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.

^BSENifty 50BOM:500520BOM:532977NSE:BAJAJ-AUTONSE:M&M
Asia

Mahindra & Mahindra's Overall Auto Sales Climb 20% in May

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.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra Incorporates 50:50 Life Insurance Joint Venture

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.

BOM:500520NSE:M&M
Asia

Mahindra & Mahindra Names Chief Brand Officer

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.

BOM:500520NSE:M&M
Asia

Nomura Adjusts Mahindra & Mahindra's Price Target to INR4,580 From INR4,662, Keeps at Buy

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.

BOM:500520NSE:M&M
Asia

Jefferies Adjusts Mahindra & Mahindra's Price Target to INR4,000 From INR4,500, Keeps at Buy

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.

BOM:500520NSE:M&M
Asia

Indian Equities Slip on Tuesday as Geopolitical Tensions, Profit Booking Weigh

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.

^BSENifty 50BOM:500033BOM:500520NSE:FORCEMOTNSE:M&M
Asia

Mahindra & Mahindra's Consolidated Profit Rises in Fiscal Q4

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.

BOM:500520NSE:M&M

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