Chief marketing officer Mahindra and Mahindra, Vivek Nayer (L) and chief executive automotive division Mahindra and Mahindra pose with the newly launched compact car Verito Vibe at a function in New Delhi on June 6, 2013.
Bank of America Merrill Lynch downgraded automakers Mahindra and Mahindra and Bajaj Auto to underperform from buy each, citing share gains since mid-2012 and valuations it considered not compelling.
Indian Chairman and Managing Director, Mahindra and Mahindra (MM), Anand Mahindra (R), and Chief Minister of Andhra Pradesh, N.Kiran Kumar Reddy (C) look on during the opening of a new Mahindra manufacturing plant at Zaheerabad in Medak District, around 126 kilometres from Hyderabad on March 6, 2013. Auto-maker Mahindra Mahindra reported 10.99 percent increase in its total sales to 47,824 units in February 2013. The company sold 43,087 units in the same month in 2012, MM said in a statement.
Indian Chairman and Managing Director, Mahindra and Mahindra (MM), Anand Mahindra(top L), Chief Minister of Andhra Pradesh, N.Kiran Kumar Reddy(top C), Minister for Major Industries in Andhra Pradesh, J Geeta Reddy(top R) sit on the newly launched Mahindra tractor at the opening of new manufacturing plant at Zaheerabad in Medak District, around 126 kilometres from Hyderabad on March 6, 2013. Auto-maker Mahindra Mahindra reported 10.99 percent increase in its total sales to 47,824 units in February 2013. The company sold 43,087 units in the same month in 2012, MM said in a statement.
Chennai: Auto major Mahindra and Mahindra today said it was cautiously optimistic on total sales this fiscal even as it has clocked a growth rate of 21 percent so far.
We remain cautiously optimistic. Why cautiously optimistic -one-consumer sentiment is not good, interest rates are still higher.. two -we have registered a growth of 21 percent so far this fiscal (year-on-year), Mahindra and Mahindra Senior Vice President, Marketing (Automotive Sector), Vivek Nayer told reporters here.
Mumbai: The merger of Tech Mahindra and Mahindra Satyam is expected to be complete after the related proceedings are concluded at the Andhra Pradesh and Bombay High Courts over the next few weeks.
We are now at penultimate stage of merger. The cases are coming up for hearing over the next few weeks at Andhra Pradesh and Bombay High Courts. We are anxiously looking forward to the decision, Tech Mahindra MD and CEO Vineet Nayyar told reporters in Mumbai
