Credit Analysis & Research Ltd. (CARE) has upgraded credit rating of Mahindra and Mahindra to AAA. This triple A rating is the highest CARE AAA level of rating and conferred on M&M recognizing the companyâ€™s stronghold in financial services.
Mumbai, 14th February 2014: The Board of Directors of Mahindra and Mahindra Limited today announced the unaudited financial results for the quarter ended 30th December 2013 for the company.
Indiaâ€™s leading SUV manufacturers Mahindra & Mahindra have announced sales for the month of October 2013. During the past month the company reported sales to the tune of 50,558 units. Sales of the company increased 17% in October 2013 as against sales in September 2013.
Mahindra & Mahindra Ltd. has increased product prices by up to 2% across products wef October 1, 2013, today. This equates to price increase of Rs 6,000 to Rs 20,000 depending on the vehicle. The increase is in response to higher input costs, rupee devaluation, and raw material cost increase.
Mahindra & Mahindra Ltd, India’s largest sports utility vehicle maker, will be purchasing 13.5 % stake in CIE â€“ Spainâ€™s auto component manufacturer, for 94.24 million Euros, which will gurantee M&M being the 2nd largest shareholder in CIE.
Mahindra & Mahindra total sales in May 2013, dropped by 1.2% to stand at 43,460 units. May 2012 sales were at 43,989 units. Domestic sales were however more positive, up 5.4% at 42,104 units in May 2013 as compared to 39,938 units sold during May 2012.
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