The year 2017 has been a year of consolidation and has given the company the much needed breather to take step back and align its business strategy and increase its focus and presence in the global markets. Despite no all-new launches, Mahindra managed to make big headlines on several occasions and is now warming up to 2018, which is when it will execute many of its business plans.

Mahindra Group chairman Anand Mahindra has picked a 16.7 per cent equity in Bayside Sports, a city-based multi-sports academy and sports event provider. The company said Mahindra made the investment in his personal capacity through his family office. Bayside Sports was founded by childhood friends Vishal Gokani and Kyan Bharucha in January 2013 with the objective of helping people and families bond over sports with just three students at a single location in south Mumbai.

Mahindra & Mahindra (M&M) hit a fresh 52-week high of Rs 1,480, up 3.3% on the BSE in noon deal trade, after the company announced that it plans to increase prices of its passenger and commercial vehicles by up to 3% with effect from January 1, 2018. The stock was the top gainer among the S&P BSE Sensex at 12:16 PM.

“We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase,” Rajan Wadhera, President - Automotive Sector, M&M said on the price hike.

Mahindra & Mahindra (M&M) Financial Services hit a 52-week high of Rs 461, up 5% on the BSE in early morning trade, after the company launched its qualified institutional placement (QIP) issue on Thursday.

M&M Financial Services has fixed floor price of Rs 439.63 per share, almost same against Thursday’s closing price of Rs 439.65. The company said it may offer a discount of not more than 5% on the floor price.

Mahindra Electric on Friday announced a tie-up with taxi aggregator Uber to run its electric vehicles - mainly sedan eVerito and electric hatchback e2o Plus. The company had earlier inked a similar agreement with Uber's rival Ola Cabs.

According to the officials, to begin with, the companies will deploy hundreds of electric vehicles in Delhi and Hyderabad. Automaker's e2oPlus hatch and the eVerito sedan will be used on the taxi-hailing platform.

Auto major Mahindra & Mahindra today said it will bid for the second stage of the tender for supplying 9,500 electric vehicles (EVs) to state-run Energy Efficiency Services Ltd (EESL).

"We will bid for the second stage of EESL tender," M&M Managing Director Pawan Goenka told reporters here.

Mahindra & Mahindra Ltd, one of India’s oldest vehicle manufacturers, is testing autonomous tractors, trucks and cars, while moving closer to bringing electric vehicles to the United States, Chairman Anand Mahindra said on Monday.

The company, which opened a new North American headquarters north of Detroit on Monday, is considering when to begin US sales of the vehicles, Anand Mahindra said in an interview.

Mahindra and Mahindra (M&M) on Friday reported a 25% year-on-year rise in its standalone net profit to Rs 1,332 crore for the three months ended September 30, 2017. The net profit was higher than analysts’ estimates, and was driven by impressive tractor sales during the quarter. Net sales for the country’s largest tractor manufacturer surged 14% to Rs 12,182.07 crore while the operating margin expanded. The company reported EBITDA of Rs 1,729.26 crore, up 45.5%, while the EBITDA margin was up by 310 basis points to 14.2%. Pawan Goenka, managing director, told analysts in a conference call, “Margins have risen due to a favourable model mix in the quarter and because we have passed on commodity price increases to customers by way of increase in prices. We also cleared out all the inventory with a BS III (Bharat Stage 3) or GST impact out in the last quarter.”

Mahindra & Mahindra (M&M) was up 3% at Rs 1,373 on the BSE in an otherwise range-bound market as the company said that its board will consider bonus issue in their forthcoming meeting on Friday, November 10, 2017 after a gap of 12 years.

Earlier, in August 2005, M&M had issued bonus shares in the ratio of 1:1 i.e. 1 (one) bonus equity share for every 1(one) existing equity share held by the shareholders as on the "Record date".

The third party logistics service provider Mahindra Logistics is planning to raise around Rs 829.35 crore at the upper end of the price band from its initial price offering (IPO). The company has set a price band of Rs 425-429 per share for its IPO. The IPO is scheduled to open on October 31 and close on November 2. The minimum bid lot for the offer is fixed at 34 equity shares and in multiples of 34 shares thereafter.The company has proposed an offer for sale (OFS) up to 1.93 crore equity shares of face value of Rs 10 each.

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