The slowdown in rural demand for automobiles has prompted banks and finance companies to dole out offers for the festive season including lower interest rates, free insurance and longer repayment tenures. Experts said India’s auto industry is saddled with nearly ‘80,000 crore worth of inventory. Tractor sales, which tend to pick up after good crop … Read more
Carraro India Limited, a Pune-based manufacturer of transmission systems for tractors & off-highway vehicles, and other agricultural and construction equipment, has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to mop up funds through an initial public offering (IPO). The IPO is a complete offer … Read more
Mahindra and Mahindra is expected to report healthy growth in its revenues for the first quarter ended June 2024, driven by tractor and automotive segments. Meanwhile, profits are likely to be muted. Revenue from operations may increase 16% year-on-year, according to an average estimate of four brokerages, while net profit is likely to be flat … Read more
Indian benchmark indices scaled new heights gains in the last week of the June month despite mixed signals from the global market, particularly regarding inflation concerns. While the largecap stocks saw significant investor attention, the broader market of mid and small-cap segments underperformed. During the June month, as many as 187 BSE500 stocks have delivered … Read more
While Nifty ended with modest weak-on-weak gains of 0.4%, the truncated trading week was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 40,543 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals … Read more
Automobile sales slowed down in May as a combination of factors such as heatwaves, election-related uncertainties and a high base led to a decline in dispatches from the manufacturers to the dealers over the year-ago period, said executives at manufacturers that released the monthly sales figures on Saturday.Automobile manufacturers in India count dispatches to dealers … Read more
The fourth quarter results season is coming to a fag-end, and analysts said despite earnings largely meeting expectations, there is a noticeable moderation in the overall earnings landscape. Some notable companies that will announce their earnings this week include Varun Beverages, Zomato, Airtel, Siemens, Power Finance Corp, Mahindra and Mahindra, HAL, and JSW Steel, among … Read more
Indian automaker Mahindra and Mahindra said on Wednesday that the company, along with external investors, will spend 8.75 billion rupees ($105 million) in its two-wheeler unit, Classic Legends, over the next two to three years. The ‘Scorpio’ car manufacturer, will invest 5.25 billion and the remaining will come from existing shareholders and new investors, Mahindra … Read more
Classic Legends Pvt Ltd, a Mahindra and Mahindra subsidiary that makes iconic motorcycle brands Yezdi and Jawa among others, is set to get a fund infusion of Rs 875 crore, Mahindra said in a stock exchange filing. Of this, Mahindra has agreed to invest Rs 525 crore by way of subscription to CCPS (compulsorily convertible … Read more
