Edition:
India

Mahindra and Mahindra Ltd (MAHM.BO)

MAHM.BO on Bombay Stock Exchange

591.90INR
12:56pm IST
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Rs7.80 (+1.34%)
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Rs584.10
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Volume
61,798
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164,054
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Rs814.00
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Rs502.85

Latest Key Developments (Source: Significant Developments)

India's Mahindra And Mahindra Exec Says JV With Ford Will Increase Sourcing From India To $7 Bln
Tuesday, 1 Oct 2019 

Oct 1 (Reuters) - FORD MOTOR AND INDIA'S MAHINDRA AND MAHINDRA EXECS SAY::JV WITH MAHINDRA AND MAHINDRA PLACES INDIA AT THE VERY CENTRE OF FORD'S INTERNATIONAL STRATEGY.JV WILL INCREASE SOURCING FROM INDIA TO $7 BILLION FROM AROUND $5.5 BILLION.JV WILL ENSURE WE WILL NOT HAVE TO INVEST IN ANY NEW CAPACITY.JV WILL HAVE TOTAL 1.2 MILLION CAPACITY.JV WILL HAVE TOTAL ANNUAL PRODUCTION CAPACITY OF 1.2 MILLION VEHICLES.ENTERPRISE VALUE OF JV IS AT 19.25 BILLION RUPEES.MGMT WILL BE INDUCTED BY MAHINDRA IN NEW JV APPROVED BY FORD.WILL LOOK AT COMMON PLATFORMS ACROSS MAHINDRA, FORD AND SSANGYONG MOTOR.NEW JV COMPANY WILL HAVE 14% COMBINED MARKET SHARE.NEW JV COMPANY WILL BE EBITDA POSITIVE FROM FIRST DAY ITSELF.IN THE PROCESS OF DECIDING ON BUILDING AN ELECTRIC VEHICLE ON FORD'S CAR PLATFORM.THERE WILL BE NO JOINT BRANDING UNDER THE JV.THERE WILL BE NO JOB LOSSES BECAUSE OF JV.  Full Article

Mahindra And Ford Announce A Joint Venture In India And Emerging Markets
Tuesday, 1 Oct 2019 

Oct 1 (Reuters) - Ford Motor Co ::MAHINDRA AND FORD ANNOUNCE A JOINT VENTURE TO DRIVE PROFITABLE GROWTH IN INDIA AND EMERGING MARKETS.FORD MOTOR CO - JOINT VENTURE VALUED AT INR 1,925 CRORES.FORD MOTOR CO - MAHINDRA AND FORD WILL FORM A JOINT VENTURE, WITH MAHINDRA OWNING A 51 PERCENT CONTROLLING STAKE AND FORD OWNING A 49 PERCENT STAKE.FORD MOTOR CO - JV WILL BE OPERATIONALLY MANAGED BY MAHINDRA, AND ITS GOVERNANCE WILL BE EQUALLY COMPOSED OF REPRESENTATIVES OF MAHINDRA AND FORD.FORD MOTOR CO - MAHINDRA WILL CONTINUE TO OWN MAHINDRA BRAND AND OPERATE ITS OWN INDEPENDENT DEALER NETWORK IN INDIA.FORD MOTOR CO - FORD WILL RETAIN FORD ENGINE PLANT OPERATIONS IN SANAND, GLOBAL BUSINESS SERVICES UNIT, FORD CREDIT AND FORD SMART MOBILITY.FORD MOTOR CO - FORD WILL TRANSFER ITS INDIA OPERATIONS TO JOINT VENTURE, INCLUDING ITS PERSONNEL AND ASSEMBLY PLANTS IN CHENNAI AND SANAND.FORD MOTOR - JOINT VENTURE EXPECTS TO INTRODUCE THREE NEW UTILITY VEHICLES UNDER FORD BRAND.FORD MOTOR CO - JOINT VENTURE IS EXPECTED TO BE OPERATIONAL BY MID-2020, SUBJECT TO REGULATORY APPROVALS.FORD MOTOR CO - FORD WILL CONTINUE TO OWN FORD BRAND, AND ITS BRANDED VEHICLES WILL BE DISTRIBUTED THROUGH CURRENT FORD INDIA DEALER NETWORK.FORD MOTOR CO - ANOTHER AREA OF FOCUS FOR JOINT VENTURE WILL BE ELECTRIC VEHICLES.FORD MOTOR CO - JOINT VENTURE WILL BE RESPONSIBLE FOR GROWING FORD BRAND IN INDIA AND EXPORTING ITS PRODUCTS TO FORD ENTITIES GLOBALLY.  Full Article

Ssangyong Motor: Sept Global Sales Down 4.4% Y/Y
Tuesday, 1 Oct 2019 

Oct 1 (Reuters) - Ssangyong Motor Co Ltd <003620.KS>::SAYS SEPT GLOBAL SALES DOWN 4.4% Y/Y TO 10,325 VEHICLES.  Full Article

Mahindra And Mahindra's Aug Production Falls
Thursday, 5 Sep 2019 

Sept 5 (Reuters) - Mahindra and Mahindra Ltd ::AUG PRODUCTION 34520 UNITS VERSUS 54888 UNITS.  Full Article

India's Mahindra And Mahindra MD Says Likely To See More Job Cuts This Fiscal Year If Slowdown Continues
Thursday, 5 Sep 2019 

Sept 5 (Reuters) - Mahindra and Mahindra Ltd MD Pawan Goenka ::LIKELY TO SEE MORE JOB CUTS THIS FISCAL YEAR IF SLOWDOWN CONTINUES.COMPANY HAS ALREADY CUT 1,500 JOBS, ABOUT 5% OF ITS TOTAL WORKFORCE.NOT PLANNING TO HALT PRODUCTION DURING SEPT AS OF NOW, WILL EVALUATE IN OCT DEPENDING ON FESTIVE SALES.PLAN TO DEFER 10% CAPEX INVESTMENT THIS YEAR, AS MUCH AS 10 BILLION RUPEES.PLAN TO DEFER INVESTMENT IN INCREASING PRODUCTION CAPACITY FOR ABOUT A YEAR.  Full Article

Mahindra And Mahindra Unit To Have Upto 14 'No Production Days' In Q2
Friday, 9 Aug 2019 

Aug 9 (Reuters) - Mahindra and Mahindra Ltd ::MAHINDRA AND MAHINDRA SAYS MAHINDRA VEHICLE MANUFACTURERS LTD WILL HAVE ''NO PRODUCTION DAYS'' FOR 8-14 DAYS IN VARIOUS PLANTS DURING Q2 FY20.SAYS MOVE AS PART OF ALIGNING PRODUCTION WITH SALES REQUIREMENTS.  Full Article

India's Mahindra And Mahindra June Qtr PAT Rises
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - Mahindra and Mahindra Ltd ::JUNE QUARTER PAT 23.14 BILLION RUPEES VERSUS PROFIT OF 12.21 BILLION RUPEES LAST YEAR.CONSENSUS FORECAST FOR JUNE QUARTER PROFIT WAS 9.72 BILLION RUPEES.JUNE QUARTER REVENUE FROM OPERATIONS 129.23 BILLION RUPEES VERSUS 135.20 BILLION RUPEES LAST YEAR.JUNE QUARTER EXCEPTIONAL ITEM 13.67 BILLION RUPEES.EXPECTIONAL GAIN FOR QUARTER INCLUDED GAIN ON SALE OF SHARES BY M&M BENEFIT TRUST & GAIN ON BUYBACK BY ASSOCIATE.  Full Article

Mahindra And Mahindra July Total Sales Slump 15%
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - Mahindra and Mahindra Ltd ::JULY AUTO SECTOR OVERALL SALES AT 40,142 VEHICLES VERSUS 47,199 VEHICLES DURING JULY 2018.JULY PASSENGER VEHICLES SEGMENT SALES 16,831 VEHICLES VERSUS 19,781 VEHICLES IN JULY 2018.JULY COMMERCIAL VEHICLES SEGMENT SALES 15,969 VEHICLES VERSUS 19,284 VEHICLES IN JULY 2018.JULY MEDIUM AND HEAVY COMMERCIAL VEHICLES SEGMENT SALES 417 VEHICLES; EXPORTS AT 2,668 VEHICLES.HEADWINDS FACED BY AUTOMOTIVE INDUSTRY CONTINUE DUE TO SUBDUED CONSUMER SENTIMENT, TRIGGERED BY VARIOUS FACTORS.INDUSTRY NEEDS STIMULI TO HELP REVIVE CONSUMER DEMAND AND CONVERSIONS.JULY TOTAL TRACTOR SALES 19,992 UNITS VERSUS 22,679 UNITS LAST YEAR.JULY DOMESTIC TRACTOR SALES 19,174 UNITS VERSUS 21,574 UNITS LAST YEAR.  Full Article

India's Mahindra And Mahindra June Total Sales Fall 6%
Monday, 1 Jul 2019 

July 1 (Reuters) - Mahindra and Mahindra Ltd ::JUNE TOTAL SALES 42,547 UNITS, DOWN 6%.JUNE PASSENGER VEHICLE SALES 18,826 UNITS, UP 4%.JUNE TOTAL DOMESTIC SALES 39,471 UNITS, DOWN 5%.JUNE EXPORTS 3,076 UNITS, DOWN 11%.JUNE DOMESTIC TRACTOR SALES 31,879 UNITS, DOWN 19%.JUNE TOTAL TRACTOR SALES 33,094 UNITS, DOWN 18%.  Full Article

India's Mahindra And Mahindra March Qtr PAT Falls
Wednesday, 29 May 2019 

May 29 (Reuters) - Mahindra and Mahindra Ltd ::MARCH QUARTER PAT 8.49 BILLION RUPEES VERSUS PAT OF 10.59 BILLION RUPEES LAST YEAR.MARCH QUARTER REVENUE FROM OPERATIONS 140.35 BILLION RUPEES VERSUS 133.08 BILLION RUPEES LAST YEAR.MAHINDRA AND MAHINDRA LTD - MARCH QUARTER EXCEPTIONAL ITEM 1.05 BILLION RUPEES.RECOMMENDED FINAL DIVIDEND OF 8.50 RUPEES PER SHARE.  Full Article

RPT-ICRA ratings for Indian debt instruments-Oct 9

(Repeating to add more ratings) Oct 9 Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA) for local debt instruments as of October 7, 2019. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ----------------