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Mahindra & Mahindra on Friday posted a 60% increase in consolidated net profit before exceptional items and a 19% expansion in revenue for the fiscal first quarter, driven by a strong operational performance of its automobile business. For the quarter ended June 30, it posted a profit of ₹3,508 crore before exceptional items on revenue of ₹33,892 crore.
Singapore’s sovereign wealth fund Temasek has agreed to invest up to Rs 1,200 crore (around $145 million) in Mahindra & Mahindra’s electric four-wheeler vehicle unit, ......
Says by the end of the year, firm will have increased SUV production capacity to around 49,000 a month
The Futures Short Position Scan conducted on the previous trading session (July 26) suggests Aggressive New Short positions were taken on 7 largecap stocks
Mahindra's disclosure comes amid evident regulatory caution over banking ownership by business houses. The Reserve Bank of India (RBI) abandoned a proposal that would have permitted business houses to eventually own banks after public resentment against an internal working group suggestion in favour of allowing such ownership. The Mahindra Group already owns a non-banking finance company (NBFC).