Mumbai: Mahindra & Mahindra Ltd, India's biggest utility vehicles maker, reported a forecast-beating 44 percent jump in quarterly profit, helped by an exceptional gain and strong volume growth in the face of rising input costs. Mahindra, which controls over 40 percent of India's tractor market, the world's largest, said slowing economic growth in Asia's third-largest economy and escalating global risks meant the near-term outlook for the company was challenging. "The...
03:59 PM, May 30, 2012
Bangalore: Tech Mahindra Ltd and Satyam Computer Services Ltd, which are in the process of a merger, aim to hire up to 10,000 staff for the combined entity in 2012/13 to meet an expected rise in demand for technology services. The companies also plan to complement their parent Mahindra & Mahindra group's move to become a major defence manufacturer, Tech Mahindra CEO Vineet Nayyar said on Tuesday. Tech Mahindra bought...
02:38 AM, Apr 11, 2012
Bangalore: The combined entity resulting from the merger of Tech Mahindra Ltd and Satyam Computer Services Ltd may hire as many as 10,000 new employees in the current fiscal year, said Vineet Nayyar, CEO of Tech Mahindra. "We are trying to secure more efficiencies internally, we'll see how it works out, but I think it will be anywhere between five to 10,000 range," Nayyar said. The two companies together have...
02:51 PM, Apr 10, 2012
Four companies are battling for the largest ever public-private partnership project to build a light armoured carrier for the Indian Army"the Future Infantry Combat Vehicle (FICV). The Army needs about 2,600 such vehicles over 20 years. All four bidders"Tata Motors, Mahindra Defence Systems, L&T and the government-owned Ordnance Factory Board (OFB)"have presented their designs and the evaluation is set to move to the final phase within a month. The Rs...
12:07 PM, Apr 09, 2012
If you're on any of India's national highways, the sight of an overloaded truck travelling at a sedate pace is pretty common. Truckers seldom cover more than 300 km a day, compared to more than 1,000 km a day in the West, at speeds no more than 25 km an hour. Even today, a truck travelling from Delhi to Kolkata " a distance of about 1,500 km " has to...
08:52 AM, Mar 31, 2012
Mumbai: The diversified Mahindra Group on Wednesday announced the long-awaited merger of Mahindra Satyam with its another technology arm Tech Mahindra in an all-share deal that would create the country's fifth largest software firm with an estimated annual revenue of about $ 2.4 billion. Under the deal, which was cheered by investors of both the companies in the stock market on Wednesday, would involve the shareholders getting two shares of...
06:17 PM, Mar 21, 2012
New Delhi: The swap ratio for the merger of Mahindra Satyam with Tech Mahindra has been fixed at 8.5 shares of Satyam for every one share of Tech Mahindra, by the boards of the two companies. The ratio is on expected lines, though some players felt Tech Mahindra shareholders should have got a slightly better deal because of the liabilities in Mahindra Satyam. The merger will create the fifth largest...
12:14 PM, Mar 21, 2012
Remember that guy you met at a party who had really, really bad teeth. The first time you met him you thought to yourself, "Oh my good God!" Then you kept seeing him at all the other parties and you got over his really bad teeth. Then after you met him a few more times you started talking to him and found out he does a lot of charity work...
10:29 AM, Mar 16, 2012
Mahindra & Mahindra President Pawan Goenka believes that the Good and Service Tax (GST) is the biggest growth driver. ...
11:07 AM, Mar 12, 2012
As they say, looks can often be misleading. At first glance, the Engineering and Research Centre (ERC) inside the Tata Motors' factory in Pimpri doesn't seem to be the kind of place where great ideas are born. The paint on the walls is a dull shade of blue and white, the same colour as the uniform that employees sport, there are helmets strewn all over the place, the window panes...
11:55 AM, Feb 29, 2012
This spring, there is music in the air. Here are some music festivals that will leave you whistling a tune. Sulafest 2012 Location: Sula Vineyards, Nashik When: February 4-5 Artists: Nitin Sawhney, Blackstratblues, Papon & East India Company Damage: Rs. 1,800. The highlight this year is undoubtedly Nitin Sawhney. He is a huge favourite of Rajeev Samant, founder and CEO of Sula Vineyards. Area79 Music and Arts Festival Location: The...
12:43 PM, Feb 10, 2012
Mahindra and Mahindra have launched an updated Mahindra Xylo. The Xylo now gets a new grille, sharper headlights and a new bumper, all reminiscent of the Genio pick-up. The new Xylo gets a voice control system which allows the user to control the headlights, fuel lid, wipers, door locks and other features. There are five variants with the top of the line E9 getting leather upholstery, two tone dashboard, new...
01:46 PM, Feb 08, 2012
New Delhi: Auto major Mahindra & Mahindra said it has closed the second phase of booking for its latest sports utility vehicle XUV500 and has received over 25,000 orders in a period of 10 days. The company will conduct a draw of the orders to deliver the vehicle to 7,200 customers. In a statement, Mahindra & Mahindra (M&M) said it has received over 25,000 booking applications from customers during the...
06:29 PM, Feb 07, 2012
Hyderabad: Leading SUV maker Mahindra and Mahindra Ltd (M&M) said it will open the second phase of bookings for XUV500 for 10 days from January 25. The company has decided to undertake a draw in the next round of bookings in case the requests for the latest Sports Utility Vehicle (SUV) from the M&M stable exceed 7,200. This will help in ensuring a reasonable waiting period for the customers selected...
04:59 PM, Jan 18, 2012
Mahindra and Mahindra have announced at the 2012 Auto Expo that they will be launching a total of seven new products in the personal as well as the commercial vehicle segment. The vehicles scheduled to be launched in the passenger segment are the SsangYong Rexton, compact SUV, Mahindra Reva NXR, Maxximo passenger van and the sub 4-metre Verito. For the commercial segment, Mahindra Navistar Automotive Ltd (MNAL) will launch its...
01:01 PM, Jan 11, 2012
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