Page 4 - M Amp News Today

Indian automaker Mahindra & Mahindra has signed a supply agreement with Germany-based Volkswagen Group for components for its INGLO platform. The deal will equip certain ranges of the electric platform with electric components from Volkswagens MEB and unified cells. The supply deal will span several years and have a lifetime total volume of around 50 GWh.

Mahindra & Mahindra (M&M), the Indian automobile major, has signed an agreement with German carmaker Volkswagen for the supply of certain electric components as well as unified cells. With the agreement, two auto giants are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022. - Overdrive

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Morgan Stanley maintained an Equal Weight rating on Crompton Greaves Consumer and an overweight rating on Bharat Forge. Jefferies recommended a hold rating on M&M and BofA Securities recommended a buy on Gland Pharma.

From the Sensex stocks, M&M, Wipro, NTPC, HCL Tech, Infosys, and Tech Mahindra opened with gains, while Nestle, HUL, Axis Bank, UltraTech Cement, and Kotak Bank opened with cuts.

​When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup

Shares of Mahindra & Mahindra (M&M) jumped over 4% on BSE after brokerages raised their target prices. The Q3 results showed better than expected average selling prices (ASP) and volume growth of 11% YoY. The standalone profit rose 61% YoY to Rs 2,454 crore.

Hindalco Industries on Tuesday reported 71% growth in its consolidated net profit at Rs 2331 crore for the quarter ended December 2023.

Among other important results will be those Aditya Birla Fashion and Retail (ABFRL), Crompton Greaves Consumer Electricals, Eureka Forbes, IPCA Laboratories, KPI Green Energy, Liberty Shoes, Natco Pharma, National Fertilizers, Narayana Hrudayalaya, PTC India, Rajesh Exports, Rana Sugars, Reliance Capital, Sun TV Network and Wockhardt.

Mahindra & Mahindra reports Q3 PAT increase to Rs 2,658 crore. Tractor sales decline 4.1%. Tractor industry volume declines due to weaker monsoon, weather vagaries, high base, and lower reservoir levels. Farmers protest unlikely to impact tractor industry. Maharashtra, Andhra Pradesh, Telangana, and Karnataka markets face stress. Good monsoon and reservoir levels will boost rural sentiment.