Published July 8th, 2007
in Mahendra&Mahendra.
Mahindra and Mahindra’s open offer for picking up 20 per cent stake in Swaraj Engines has received lukewarm response from shareholders, who tendered only 0.6 per cent of their holdings.
The open offer was for acquiring 2,483,964 fully paid up equity shares of Rs 10 each, representing 20 per cent of the outstanding voting equity capital of the Swaraj Engines at Rs 151 per share.
But only 7,417 shares were tendered, which amounted to 0.06 per cent stake in Swaraj Engines, M&M said in a filing to the Bombay Stock Exchange.
The share price of Swaraj Engines witnessed a consistent upward trend ever since the open offer was announced. The scrip was currently trading at Rs 191 on the BSE, much higher than the open offer price of Rs 151. More
Courtesy:www.indiacar.net
Published July 8th, 2007
in Mahendra&Mahendra.
Mahindra and Mahindra on Thursday said it has consolidated its stake in Punjab Tractors to 64.6 per cent after completing its open offer to pick up a 20 per cent stake in the company.
Mahindra and Mahindra along with Mahindra Holdings and Finance Ltd had made an open offer to the shareholders of Punjab Tractors Ltd for acquiring 12,151,140 equity shares of Rs 10 each at Rs 360 per share.
Over 1.21 crore shares amounting to 20 per cent stake were tendered in the open offer by Punjab Tractors shareholders. More
Courtesy:www.indiacar.net
Published July 8th, 2007
in Bajaj auto.
Bajaj might soon be doing a Harley-Davidson. Don’t be surprised if you see biker gangs in Bajaj leathers and helmets zipping past you. Biking brotherhood is all set to get a brand new makeover with Bajaj Auto planning to foray into biking merchandise.
The day is not far when Indian highways would witness bikers downing beer at a local dhaba, proudly putting on branded bandanas and riding away into the setting sun, eager to munch lonely miles.
To hammer home the advantage they gleaned from the launch of the class leading Pulsar 220 Bajaj Auto might soon be introducing their new range of riding gear into the market.
More
Courtesy:economictimes.indiatimes.com
Published July 8th, 2007
in Bikes.
Country’s second largest two-wheeler maker Bajaj Auto Ltd (BAL) on Thursday announced a change in its organisational structure, while increasing prices of its 100 cc and 125 cc bikes Platina and Discover by Rs 500.
Under the new structure, the company will be having five broad strategic units — R&D, engineering, two-wheeler business unit, commercial vehicles business unit and international business units.
Speaking on the restructuring, BAL Managing Director Rajiv Bajaj said: “The new structure would assist in aligning the vectors of the organisation and will enable the company to live its brand values and be distinctly ahead”. More
Courtesy:www.indiacar.net
Published July 8th, 2007
in tyres.
Tyre major JK Tyre is planning to invest Rs 1,100 crore over the next three years to expand its production capacity as it sees its revenues crossing Rs 5,000 crore mark by then.
“To meet the increased demand for radial and off the road (OTR) tyres, we will invest Rs 1,100 crore in expanding our production capacity by 2010,” said, JK Tyre and Industries Finance Director A K Kinra.
He said the company would fund the expansion plans through a mix of debt and internal accruals.
More
Courtesy:economictimes.indiatimes.com
Published July 8th, 2007
in Maruti Udyog.
India’s top car maker, Maruti Udyog Ltd, will find it hard to match its record sales of 2006/07, a senior company official said on Thursday.
Maruti, which has nearly half of India’s market for mostly small cars, is also launching more premium vehicles in a bid to shift consumers to higher-margin vehicles. More
Courtesy:www.indiacar.net
Published July 8th, 2007
in Tata Motors and Bikes.
A four-wheeler for Rs 1 lakh and high-speed super bikes for Rs 8-15 lakh. The Indian market is nurturing a new breed of machines with stark price contrast.
The example of India’s frugal engineering capabilities, Tata Motor’s Rs 1-lakh car, is expected to hit the road sometime in the third quarter of 2008. But much before that, hordes of fuel-guzzling, high-end super bikes would be out in the Indian automobile mart. More
Courtesy:economictimes.indiatimes.com
Published July 8th, 2007
in Maruti Udyog.
Maruti Udyog Ltd launches on Thursday its sports utility vehicle (SUV) ‘Grand Vitara’ at a starting price of Rs 13.80 lakh (ex-showroom) in Delhi.
The company has launched two variants of the SUV - manual transmission and automatic transmission.
The automatic transmission variant will be available for Rs 14.8 lakh (ex- showroom price Delhi).
More
Courtesy:www.indiacar.net
Published July 8th, 2007
in Tvs motor.
Looking at the growing two wheeler market, the TVS Motor Company rolled out all new Apache RTR (Racing Throttle Response) 160 cc bikes with slew of new features.
The country’s third largest maker of two wheelers is also planning to manufacture its latest premium segment bike, Apache RTR 160, in Indonesia.
Talking to reporters here, the president of the Company, K N Radhakrishnan, has said that TVS would export the new bike to Indonesia. More
Courtesy:economictimes.indiatimes.com
Published July 8th, 2007
in Toyota India.
Toyota Kirloskar Motors on Thrusday said it expects to corner about 15 per cent of passenger vehicles market in India with sales of about 600,000 units by 2015.
“Our plan for future in India is to have 10 per cent of the passenger vehicles market by 2010 and increase it to 15 per cent by 2015,” company Managing Director Atsushi Toyoshima told reporters here on the sidelines of a CII and Japan Management Association function. More
Courtesy:www.indiacar.net
