State run Energy Efficiency Services (EESL) on Wednesday said that Mahindra & Mahindra has matched the Tata Motor’s lowest bid price to supply 150 electric vehicles. The stocks of Mahindra & Mahindra shot up by 2% as soon as the it grabbed the deal. “Post the tender opening, Tata Motors had emerged as the lowest bidder […]
European aviation major Airbus has awarded a long-term contract to Mahindra Aerostructures to manufacture and supply a set of components made of hard metals. These components aerospace steel, titanium and Inconel – will be used in manufacturing single aisle A320neo and wide-body A350XWB aircraft, a release said here today. This will be the first direct […]
On Friday, Ola along with Mahindra announced a joint venture programme to build an electric mass mobility ecosystem in Nagpur. Devendra Fadnavis, Chief Minister of Maharashtra, and Nitin Gadkari, Minister of Road Transport, Highways and Shipping, inaugurated the multi-modal electric vehicle project and Ola Electric charging station. This project brings vehicles across different segments and […]
Kotak Mahindra Banks promoter Uday Kotak today sold 1.8 crore shares of the private sector lender for a little over Rs 1,687 crore, bringing down his stake to below 30 per cent to meet the RBI directive. The shares were purchased by several entities, including Canadian pension fund Caisse de Depot et Placement du Quebec […]
IT firm Tech Mahindra today said it has entered into the Top-20 global tech services brands list (by brand value) in 2017,as per an independent assessment by a valuation and strategy consultancy, Brand Finance. It also said the company has potential to be in the top-5 technology services brands by 2020. Tech Mahindra has been […]
Struggling ecommerce major Snapdeal has sounded out five merchant bankers, including SBI Caps and Kotak Mahindra Capital, to work on a public offer that is likely to hit the market in the second half of 2019. The third largest marketplace majority owned by Japanese giant SoftBank has also reportedly appointed Swiss investment banking major Credit […]
Tech Mahindra today announced that it has set up a “state-of-the-art” lab at its campus here, which works on technologies that are expected to power the future factory floors. Known as the “Factory of the Future” lab, the new centre showcases assets and solutions in the areas of Digital Manufacturing, Connected Machines, Addictive Manufacturing, Robotics […]
Automobile major Mahindra hopes that the proposed GST regime will not treat electric cars as luxury items and therefore, it should be taxed accordingly. “We hope that the upcoming GST regime will not treat electric cars as luxury items and will not be taxed at high rates,” Mahesh Babu, CEO-designate of Mahindra Electric, told reporters […]
Mahindra First Choice Wheels (MFCWL) today announced the launch of a platform that allows buyers to participate in traditional ‘on the ground’ used-car auctions via internet in real-time. The platform, True Time Bids will significantly improve efficiency of how vehicle auctions are conducted in India today, the company said in a statement. MFCWL ran a […]
One of the largest tractor makers and commercial vehicle players in India, Mahindra Group has already started using the Internet-of-Things (IoT) project for placing sensors in its tractors and trucks for predicting possible breakdowns. According to the Strategy Head at the Group, Anish Shah, there will be sensors in tractors and trucks to predict failures of […]
Online babycare store FirstCry (BrainBees Solutions Pvt. Ltd) has acquired the franchise division of Mahindra Retail Pvt. Ltd, a subsidiary of Mahindra and Mahindra Ltd, which owns online babycare business BabyOye for Rs 362.1 crore in a cash and stock deal. “A business transfer agreement has been executed by and between Mahindra Retail Pvt Ltd […]
TerraPay today said it has acquired UK-based Pay2Global, a move that will help the Mahindra Comviva incubated company fast-track its entry into the European market. However, the company did not disclose the deal size. Pay2Global is a regulated digital international money transfer company with rights into the European Economic Area (EEA). “We have completed the […]