Shares of automobiles companies are on a roll with the S&P BSE Auto index and Nifty Auto index hitting their respective lifetime highs in an otherwise weak market on expectation of a recovery in second half, driven by a normal monsoon and demand post the implementation of the 7th Pay commission.

Hero MotoCorp (Rs 3,289) and Mahindra & Mahindra (Rs 1,485) have touched record highs, while Tata Motors (Rs 501) hit a fresh 52-week high on the BSE during intra-day trade. Bajaj Auto (Rs 2,695) and Maruti Suzuki India (Rs 4,450) were trading close to their 52-week highs.

The prospects for the year to 31 March have brightened for Mahindra and Mahindra Ltd (M&M) as the tide turns in favour of its product portfolio.

Utility vehicle (UV) sales, within the auto segment, are growing at a robust pace. The demand for farm equipment is expected to get better soon on the back of a normal monsoon. Its Korean unit, too, is clocking reasonable sales numbers.

As many as four companies raised Rs 1,900 crore through retail issuance of non-convertible debentures (NCDs), in the first two months of the current financial year, to meet their business needs.

This is on top of the Rs 33,812 crore garnered in the entire preceding fiscal.

NEW DELHI: Mahindra has introduced its 1.99-litre motor with a 6-speed automatic transmission. The same engine was launched earlier this year to get around the diesel ban in the NCR (National Capital Region). The homegrown manufacturer introduced the motor with the manual transmission only in the XUV500 and the Scorpio. However, the automatic transmission is not introduced in the Scorpio, but it too is expected to feature the gearbox in the near future.

Mahindra and Mahindra’s truck and buses division aims to double its market share in the heavy commercial vehicles (HCVs) space in the coming two years, beside strengthening its buses business.

In the short run, the company is set to enter the intermediate CV (ICV) space, a category it is absent in, and is putting aside Rs 700 crore for this, over three years. “We will come up with 11 different products in the six to 16-tonne category and, thereafter, will focus on our buses business,” said Nalin Mehta, chief executive officer of the truck and bus division.

Indian automobile manufacturer Mahindra's South African subsidiary has launched a new compact utility vehicle here with the company trying to reach out to the youth with its latest offering and capture a bigger market share in the country.

The new sporty KUV100, available in petrol and diesel, is the smallest vehicle in Mahindra South Africa's product range.

Homegrown auto major Mahindra & Mahindra on Wednesday reported 19.53% increase in total tractor sales at 23,018 units in May.

The company had sold 19,257 units in the same month last year.

Automaker Mahindra & Mahindra (M&M) on Monday reported a rise of 6.02 per cent in its net profit at Rs 583.73 crore for the quarter ended March 31, 2016 as compared to Rs 550.56 crore for the same quarter in the previous year, driven by robust sales in the utility vehicle segment.

Total income of the company has increased by 14.58 per cent at Rs 10912.45 crore for quarter under review as compared to Rs 9524.04 crore for the quarter ended March 31, 2015.

Shares of Maruti Suzuki and Mahindra & Mahindra (M&M) were trading in red in the morning trade on Wednesday after UK-based vehicle testing agency Global New Car Assessment Programme (NCAP) on Tuesday awarded zero star safety ratings to Maruti’s Celerio and Eeco models, as well as Mahindra’s utility vehicle Scorpio. Maruti Suzuki and M&M shares plunged as much as 3.57 per cent 2.17 per cent intraday.

NEW DELHI: Utility vehicle major Mahindra & Mahindra today launched a more powerful variant of its compact SUV TUV300 priced at Rs 8.87 lakh (ex-showroom, Mumbai).

The new variant, which comes with all new mHAWK 100 engine, delivers a power of 100 BHP and will be available in the top-end variants of T8 and T8 AMT trims of the TUV300.

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