|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||7.70 - 7.70|
|52 Week Range||7.00 - 17.00|
|Beta (5Y Monthly)||0.16|
|PE Ratio (TTM)||7.20|
|Forward Dividend & Yield||0.12 (1.07%)|
|Ex-Dividend Date||Jul 16, 2019|
|1y Target Est||N/A|
NEW DELHI/BENGALURU, Oct 11 (Reuters) - India's passenger vehicle sales slumped 23.7% in September, the eleventh straight month of declines, prompting an industry body to flag more job cuts if sales failed to pick up soon. Passenger vehicle sales dropped to 223,317 units in September, the Society of Indian Automobile Manufacturers (SIAM) data showed, while passenger car sales dived 33.4% to 131,281 units. SIAM's data comes as the domestic automobile industry faces a crippling slowdown in demand that has led to production cuts and thousands of job losses.
MUMBAI/NEW DELHI (Reuters) - Ford Motor Co and Mahindra & Mahindra said on Tuesday they would form a joint venture in India, in a move aimed at reducing risks for the U.S. automaker's local business and cutting the cost of developing and producing vehicles for emerging markets. The venture, valued at $275 million, will see Ford enlist Mahindra as a partner for developing and selling vehicles in India and emerging markets using the U.S. automaker's production facilities in the country. By shifting to a joint venture, Ford is also changing its strategy for India, where it has long run an independent operation.
Ford Motor Company (NYSE: F), which has not made much of a headway by going solo in India, has decided to scale back its ambitions. One of the earliest foreign companies to enter the Indian market, the auto giant has opted to pare back ownership in its Indian operations. Ford said Tuesday it has signed a definitive agreement with India's Mahindra & Mahindra Limited to create a joint venture to which it will transfer its Indian operations, including its personnel and assembly plants in Chennai and Sanand.
MUMBAI/NEW DELHI, Oct 1 (Reuters) - Ford Motor Co and Mahindra & Mahindra said on Tuesday they would form a joint venture in India, in a move aimed at reducing risks for the U.S. automaker's local business and cutting the cost of developing and producing vehicles for emerging markets. The venture, valued at $275 million, will see Ford enlist Mahindra as a partner for developing and selling vehicles in India and emerging markets using the U.S. automaker's production facilities in the country.
Ford Motor Co and Mahindra & Mahindra will form a joint venture company in India valued at $275 million that will develop, market and distribute Ford branded vehicles in the country, the two companies said on Tuesday. The two companies have for months been negotiating the deal, which will see Ford hold a 49% stake in the new entity, while Indian rival Mahindra will own 51%, Reuters reported in April. India's autos market is dominated by Asian automakers like Suzuki Motor Corp and Hyundai Motor Co.
MUMBAI, India & NEW DELHI--(BUSINESS WIRE)-- Mahindra & Mahindra Limited and Ford Motor Company have signed a definitive agreement to create a joint venture that will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in high-growth emerging markets around the world. Mahindra and Ford will form a joint venture, with Mahindra owning a 51 percent controlling stake and Ford owning a 49 percent stake.
Ford Motor Co and Mahindra & Mahindra are likely to sign a deal next week to form a joint venture in India, two sources told Reuters, in a move that will see the U.S. carmaker end most of its independent operations in the country. The two companies have for months been structuring the deal to create a new entity in which Ford will hold a 49% stake, while Indian rival Mahindra will own 51%, Reuters reported in April. Under the deal Ford will transfer most of its automotive assets and employees in India to the new company, but the carmaker will retain an engine plant in Sanand in the western state of Gujarat, according to the two sources, who asked not to be named as the talks are private.
India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said. A government study, attached to the agenda of a Sept. 20 GST panel meeting, has said the total annual revenue loss could be as much as 500 billion rupees ($6.95 billion), if the panel decided to lower tax rates for the auto sector to 18% from 28%. Meanwhile, state officials in Kerala, Punjab and West Bengal say they are also opposed to any cut in tax rates in the autos sector, or even consumer goods, because of lacklustre tax collections this fiscal year.
India's domestic passenger vehicle sales in July dived at the steepest pace in nearly two decades, an auto industry body said on Tuesday, as a financing crunch deepened a crisis in the country's autos sector and triggered large-scale job losses. Sales of passenger vehicles to car dealers plunged 30.9% to 200,790 in July, the ninth straight month of declines, data released by the Society of Indian Automobile Manufacturers (SIAM) showed.
Australia's air safety regulator has grounded operations of a small aircraft manufactured by Mahindra Aerospace for up to 15 days following a crash in Sweden that killed nine people earlier this month. The Civil Aviation Safety Authority (CASA) said it had suspended operations of all GippsAero GA8 planes in Australia and all Australian-registered GA8 planes flying overseas from July 20 through Aug. 3. The GA8 single-engine aircraft, built in Australia by GippsAero, is typically used for skydiving, tourism, air patrols, medical evacuations and humanitarian missions in remote locations, according to Mahindra Aerospace's website.
Ford Motor Co is nearing a deal with Mahindra & Mahindra to form a new joint-venture company in India, a move that will likely see the U.S. automaker cease independent operations in the country, two sources with direct knowledge of the talks told Reuters. The deal would make Ford the latest automaker to pare back its interests in India. Over two decades, Dearborn, Michigan-based Ford invested more than $2 billion in India but has consistently struggled - it currently has a market share of just 3 percent in India, one of the world's fastest-growing car markets.
(Reuters) - Indian shares recovered some of their early losses in late trade on Friday, but subdued global indicators and muted domestic earnings led to the markets ending in the red again. The trading ...
(Reuters) - Automaker Mahindra & Mahindra Ltd on Friday posted an 11.4 percent drop in third-quarter profit, as the demand for passenger vehicle sales softened and its MHCV segment came under pressure ...