M&M to foray into aviation

Anand Mahindra, India’s entrepreneur of the year, has set his sights on manufacturing passenger aircraft

People might recall that last September, Boeing said it expected the Asia Pacific region to be the world’s largest aviation market by 2028, with about $1.2 trillion being spent on almost 9000 new planes over the next 20 years. Boeing said that strong demand for single aisle planes in China and India meant that about 5600 of these would be single aisle models.

Mr Mahindra, VC and managing director of M&M said that India’s huge domestic market gave it a “tremendous home-base advantage” in building a scale business and that it was important for Indian business people to understand that it was the big domestic market “that allows us to become world-class players”.

Mr Mahindra is conscious that it is a step-by-step process, going from a GA8 Airvan to a 10-seater, then to an 18-seater Nomad and on to regional jet. To speed up the process, three months ago Mahindra agreed to pay about $40 million for a controlling stake in two small Australian aviation companies, Gippsland Aeronautics and Melbourne-based component maker Aerostaff Australia. 

While he recognised that it would take time, he joked that he hoped it will happen before he retired. He will be 55 next month. 

Allaying any fears pertaining to the quality of its product owing to its relative inexperience in the sector, Mr. Mahindra said, “Look, we’ll make a world-class product and we’ll go where the markets are. Arguably, the biggest aircraft markets in the world in the next two decades are going to be China and India anyway."

The Mahindra group’s businesses include financial services, automotive products, trade, retail and logistics, information technology and infrastructure development. It is one of the world’s biggest tractor makers, with plants in India, China and the United States, and an assembly site in Brisbane, Australia. In Australia, it also sells the Mahindra Pik-Up, a light utility.

The Mahindra family and associates hold a stake of about 13 per cent in the main group company, Mahindra & Mahindra, which has a market capitalisation of $7bn.

Free movement of cargo vehicles between India and Bangladesh from May 1

March 30,2010: From May 1, Bangladesh and India will allow trucks to carry cargo from one country to another, according to a media report published this Saturday. During the visit of Bangladeshi Prime Minister Sheikh Hasina to India in January, the two countries had decided to relax the restrictions on the movement of cargo vehicles along the border.

In the absence of a legal framework accord, a 'standard operating procedure' will be framed for the easy movement of vehicles across the border, the New Age newspaper quoted the foreign ministry as saying.

Currently, Bangladesh informally allows Indian trucks to enter 300 metres into Bangladesh but India does not give a similar facility to Bangladeshi vehicles.


Image courtesy-Promex

Arun Nanda elected new CII chairman

The Confederation of Indian Industry (CII) today elected Mr. Arun Nanda, executive director and president – Infrastructure Development Sector, Mahindra & Mahindra Ltd the Chairman of the CII, Western Region.

Mr Nanda holds a Degree in Law from the University of Calcutta, is a Fellow of the Institute of Chartered Accountants of India (FCA) and Institute of Company Secretaries of India (FCS).

He is also currently on the Boards of several companies in various capacities. He is the Chairman of Mahindra Holidays & Resorts (I) Ltd, Owens Corning (I) Ltd and Mahindra Consulting Engineers Ltd, Vice-Chairman of Mahindra Lifespace Developers Ltd and Mahindra World City Developers Ltd and Director of  Mahindra World City  (Jaipur) Ltd, Mumbai Mantra Media Ltd and Union Bank of India. He is also on the Advisory Boards of Barco Company Ltd and Schneider Electric India Pvt Ltd.

Mr Nanda has been awarded the “Chevalier de la Legion d’Honneur” (Knight of the National Order of the Legion of Honour) by the President of the French Republic, Mr Nicolas Sarkozy. He has also received the “Real Estate person of the Year” Award from GIREM Leadership Awards (Triple Tree) in India, “CA Business Achiever Award - Corporate” at The Institute of Chartered Accountants of India Award 2009 and “Lifetime Achievement Award” for his outstanding contribution to the Hospitality Industry and the Service Sector by the Golden Star Awards 2010.

Mr Nanda was previously the Deputy Chairman of the Confederation of Indian Industry, Western Region for 2009-10. Mr Praveen Toshniwal was elected as the Deputy Chairman of the Confederation of Indian Industry, Western Region for 2010-11. 

Image courtesy-CII.in

Navistar Continues to Build for the Future

Innovative Products, Customer-Focused Technology Position Company for Future Growth When Market Returns

LOUISVILLE, Ky, 24th March, 2010: This week at the Mid-America Trucking Show in Louisville, Ky., Navistar, Inc. introduced the new International® ProStar®+, the latest in a long line of groundbreaking products from the company.

The new 2010 International ProStar+ raises the bar on what was already the top-selling Class 8 on-highway truck in the combined U.S. and Canada market. With improved aerodynamics and a nearly 1,300-pound weight reduction, the ProStar+ also brings a number of driver-friendly interior improvements and the industry’s only integrated, no-hassle emissions solution to meet 2010 U.S. Environmental Protection Agency (EPA) emissions standards, making it the ultimate truck to drive and own.

“While others in our industry have cut back product development and retracted in the market, we continue to improve our product line-up, enter new markets and expand our business.” said Dee Kapur, president, Navistar Truck Group. “Even amidst today’s challenging economic conditions, we are building a strong foundation that will position us well for future growth and leverage the market recovery opportunity.”

In just the past year, the company has made a number of key acquisitions, partnered with industry leaders and launched several new products that position Navistar for numerous future growth opportunities. Just some of the highlights include:

MaxxForce Advanced EGR Engines

• At the heart of Navistar’s great products is its MaxxForce® Advanced EGR technology. Navistar’s commitment is to deliver a no-hassle, customer-friendly emissions technology that places the responsibility of emissions compliance on the vehicle manufacturer, not the driver or vehicle owner. Navistar showcased its 2010 MaxxForce® on-highway diesel engines at the Mid-America Trucking Show. The six-model lineup of new medium- and heavy-duty engines offers buyers of International® brand vocational and over-the-road trucks outstanding performance, fuel economy, reliability and durability, while meeting clean-air requirements without the burden of liquid urea-based emissions aftertreatment.

New Class 4/5 International TerraStar

• Earlier this month, Navistar unveiled the all new Class 4/5 International® TerraStar™, a durable, commercial-grade work truck designed to take on a market long dominated by car and light-duty truck companies. Built on a strong and durable commercial-duty platform, the TerraStar is also easy to operate.

New line of commercial trucks for India

• As part of Navistar’s global growth strategy, this past January the company’s commercial truck joint venture with Mahindra & Mahindra Ltd. (M&M) of India— Mahindra-Navistar Automotives Ltd. (MNAL)—unveiled a new line of commercial trucks and tractors for India and other global markets. Designed, developed and tested for the toughest roads and conditions, these trucks leverage Navistar’s expertise in designing and manufacturing medium- and heavy-duty commercial trucks.

All Electric Vehicles

• President Obama visited the Navistar manufacturing facility in Wakarusa, Ind. last August to celebrate the award of a $39 million federal grant to build 400 all-electric delivery vehicles. In December, Navistar entered into a joint venture agreement with Modec Limited of the U.K. to form the Navistar-Modec Electric Vehicle Alliance, LLC. Through this agreement, Navistar is introducing Class 2c-3 all-electric vehicles later this summer.

Innovation, industry leadership with participation in DOE “Super Truck” program

• In January, Navistar was named a partner in the U.S. Department of Energy (DOE) “Super Truck” program. Through the program, the company will receive more than $37 million in federal funding to pioneer new fuel efficiency and emissions-reducing technologies. The goal of the project is to develop a “Super Truck” featuring a 50 percent improvement in fuel efficiency.

Continental Mixers

• In December, Navistar acquired Continental Mfg. Company, Inc., the largest privately-held mixer manufacturer in North America. Adding Continental Mixers to its product portfolio, Navistar now offers a fully integrated concrete mixer designed to work specifically with International® WorkStar® and International® PayStar® severe service trucks. For the first time, the ready-mix concrete industry will have an integrated chassis, engine and body designed and built by one manufacturer.

Pure Power Technologies

• In its efforts to control costs and vertically integrate key fuel injection components for its MaxxForce diesel engines, in December 2009, Navistar acquired certain assets of Continental Diesel Systems U.S., LLC. Renamed Pure Power Technologies, LLC, Navistar plans to further vertically integrate research and development, engineering and manufacturing capabilities to produce world-class diesel power systems and advanced emissions control systems.

Monaco RV

• In June 2009, as part of Navistar’s strategy to leverage its own expertise with what others have built, the company entered into the recreational vehicle business with the acquisition of certain assets of Monaco Coach Corporation, one of the nation’s leading RV manufacturers. The new company, Monaco RV, LLC, will leverage Navistar assets to expand its diesel engine business, serve the end customer through robust part and service and complement Navistar’s Workhorse chassis business.
Navistar-Caterpillar Alliance

• In April 2009, Navistar announced its strategic alliance with Caterpillar Inc. to develop and manufacture a new line of heavy-duty Caterpillar vocational trucks for the North America market. In addition, the two companies entered into a 50/50 joint venture called NC2 to develop, manufacture and distribute commercial trucks in regions outside of North America and India, with an initial focus on Australia, Brazil, China, Russia, South Africa and Turkey.

International LoneStar, 2009 ATD Truck of the Year• In April 2009, the groundbreaking International® LoneStar® was the 2009 American Truck Dealers (ATD) Commercial Truck of the Year.

International® LoneStar® Harley-Davidson™ Special Edition

• Last March, Navistar unveiled the International® LoneStar® Harley-Davidson™ Special Edition, a limited edition Class 8 tractor designed in collaboration with the legendary motorcycle manufacturer.

About Navistar

Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom

Media contact: Steve Schrier, 630-753-2264

Investor contact: Heather Kos, 630-753-2406

Web site: www.Navistar.com/newsroom

India to double infrastructure spending by 2016/17

Finance minister, Dr. Pranab Mukherjee urged a doubling of infrastructure spending to $1 trillion in the five years to 2016/17. He also said private sector firms would be allowed to sell special bonds to help pay for it.

Recognizing poor infrastructure as a long-standing obstacle to faster development in India with choked roads, ports and inadequate power supplies, Finance Minister Pranab Mukherjee told an industry conference that the enormous funding needs cannot be met by overstretched banks alone and will require new sources of financing.

Private firms will be allowed to issue infrastructure bonds, which would hopefully attract investments from big pension funds and other cash-rich firms, Mukherjee said. Buyers would be able to avail tax breaks.

"We have still not completely succeeded in exploiting the full potential of insurance and pension funds for deployment in infrastructure projects," Mukherjee said. "The availability of equity, both domestic and FDI (foreign direct investment), continue to remain an area of concern."

Red tape and difficulties in acquiring land, along with an underdeveloped domestic bond market and wariness of overseas investors in committing to long-term, big-ticket projects have slowed infrastructure development.


Prime Minister Manmohan Singh told the conference India needed reforms to ensure increased resources for infrastructure and more private sector participation, and that increased infrastructure spending would help boost India's GDP growth into double digits.

India needs $514 billion poured into infrastructure in the five years from 2011/12. The bulk of this investment is seen coming from private sources. Singh also said that infrastructure development would have to include building "social infrastructure" like schools and hospitals, adding to the overall cost.

Kamal Nath embarks on mission to attract Investment in India’s Infrastructure Plans

Hong Kong, March 23, 2010: Kamal Nath, India's cabinet minister for road transport and highways made the first luncheon address at the 2010 Credit Suisse Asian Investment Conference to a packed room yesterday. His talk kept the audience engaged, but lacked specifics regarding his plans to meet his infrastructure development targets for India.

His new role sees Nath regularly attending conferences as he tries to persuade investors to buy into India's infrastructure plans, both literally and figuratively. "India is not only the world's largest democracy but also the world's rowdiest, so our solutions have to be India-specific," Nath said, defending the slow pace of change for which India is often criticised. He went on to say that it is no surprise to him that the US stimulus package has an emphasis on infrastructure as this is the need of the hour.

Highlighting India’s robustness in the financial crisis, he said, "We felt some stress as an inter-connected but not inter-dependent economy. Globally, governments are giving money to their banks to keep them afloat, but in India banks are giving money to the government".

Nath stressed the fact that India had the 2^nd largest road network in the world with 3.4 million kilometers of developed roads. He also added that India's rural road connectivity programme has been a success and is something China is now embarking upon.

Nath has set himself an ambitious target to build 7000km of roads annually, which is about 20km daily. To achieve this target India needs to have WIP [work-in-progress] of 20,000km of roads at an estimated outlay of $50 billion. Nath was also optimistic about India being equipped with the local talent needed to meet the challenge of building its infrastructure.

His address ended with a smattering of applause as he said, "For your information, Indian investment in the US over the past two years has created more jobs in America than US investment in India has created". Nath is now on his way to Canada, where, according to media reports, he will attempt to attract more investment into Indian roads.

Image Courtesy- The Hindu

GDP growth projected at 8.5%, India overcomes slowdown.

Speaking at the opening session of a workshop on Delivering Financial Literacy co-hosted by Reserve Bank of India and the OECD in Bangalore on Monday, Union finance minister Pranab Mukherjee said that the country had successfully overcome the effect of the global economic slowdown and that the GDP is expected to grow at 8.5% during fiscal 2010-11, plus or minus 0.25%.

In a cautiously worded statement, he said, ‘As far as this financial year is concerned, it is coming to an end in a few days. The final figures would be known later, though we are sticking to the earlier estimate of 7.2% growth’’.

The finance minister also said that financial literacy was critical to financial inclusion and all stakeholders including governments, financial institutions, employers, trade unions and consumer groups had a key role to play in improving financial literacy. Highlighting the importance of financial literacy amongst individuals, he said, “The recent global financial crisis has raised the question whether individuals lack of financial knowledge led them to take out adjustable rate mortgages (ARMs) or incur credit card debt they could not afford’’.

Also highlighting the need to restructure public policy to facilitate financial inclusion, he said, “While the financial sector policies in India have long been driven by the objective of increasing financial penetration and outreach, the goal of universal inclusion has eluded us. What we need today are new approaches to financial inclusion that built on the lessons of the past. Importantly, it also requires a change in the mindset on the part of policy makers, practitioners and other stakeholders to figure out and put in place effective ways of reaching out to the hitherto un-reached and under-reached segments of our population.’’ 

NHAI Modifies Bidding Norms to Speed Up Execution Of Highway Projects.

Following acceptance of the recommendations suggested by the Chaturvedi Committee’s report, The National Highway Authority of India (NHAI) has modified the Request for Qualification and Request for Proposal (RFQ/RFP) norms for Build-Operate-Transfer-(BOT) projects to resolve the procedural hurdles which have been blocking projects. 

With a view to accelerate implementation of the National Highways Development Programme (NHDP), NHAI has laid down some norms recently in the bidding documents in accordance with the provisions under clause 2.1.18 of Model Request for Proposal (RFP). The new norms make a bidder ineligible for bidding if, as on the bid date, the Bidder, its Member or Associate has, either by itself or as member of consortium been declared by the Authority as the selected Bidder for undertaking three or more projects and the bidder is yet to achieve financial closure for these projects. A bidder shall be considered as having been declared the selected Bidder for the projects of NHAI, where the Letter of award (LOA) has been issued (under Clause 2.1.18 (i)). 

Also, as per Clause 2.1.18 (ii), the Concessionaire must, mandatorily, engage only such EPC Contractors for execution of the work that have completed at least one single highway project of value at least 20% of the Estimated Project Cost in the preceding 5 years. To this effect, the Concessionaire will provide an undertaking accompanying the EPC project agreement document. 

The modified norms will impact those developers, who have outstanding LOAs but have not yet achieved the financial closure for the same, and are meanwhile seeking participation in the bidding process for further projects. All projects pending for financial closure and not merely those which are overdue will be taken into account, to determine the developers’ eligibility for the bidding process. These amendments have been introduced by the NHAI with the view to accelerate financial closure by the developers. 

According to minister for road transport and highways Kamal Nath, these amendments have been introduced following acceptance of the recommendations of the Chaturvedi Committee's first report. 


Image courtesy:Wikipedia.com

Truckers threaten indefinite strike from 5th April

About 70 lakh commercial vehicles across India will go off the roads from April 5 if the Centre does not meet their owners’ demands. The All India Motor Transport Congress (AIMTC) has conveyed its intention to the government, threatening an indefinite strike.

In a statement, AIMTC President G.R. Shanmugappa said, “We have given notice to the Centre saying that unless our demands are addressed before March 31, we will be left with no alternative but to close our operations from April 5”.

The demands include implementation of the new National Permit Scheme and levy of uniform toll on national highways.

Issues such as the increase in diesel prices, non-implementation of national permits and the imposition of anti-dumping tax have put the truckers under immense pressure to increase freight rates. In a meeting convened by the Ministry of Road Transport and Highways with the transporters for March 23 in New Delhi, AIMTC members asserted that they want a concrete assurance from the Centre regarding their demands.

Image courtesy: Wikimedia Commons

Tamil Nadu 2010 Budget: No New Taxes

Chennai, 19th March, 2010: Presenting the State Budget, Finance Minister K. Anbazhagan announced a Rs. 3,396.45 Cr. Deficit today. He also refrained from imposing fresh taxes.

In a huge reprieve for the common man after the Union Budget, the DMK government announced a reduction in taxes on a variety of articles used by the common man. This is the fourth budget presented by the DMK government in the state.

Some of the development and welfare measures initiated by the state are enumerated below:

• An Industrial park would be set by the State Industries Promotion Corporation in Villupuram district.
• Rs. 22 crore to expand Tamil Nadu State Wide Area Network which connects headquarters of various departments of government in district, divisional and block level through internet.
• Enhancing assistance under ‘Moovalar Ramamirtham Ammaiyar Memorial Assistance’ scheme for the welfare of women from Rs. 20,000 to Rs. 25,000.
• Iodised salt to be given free to pregnant women through fair price shops.
• Upper income limit for differently abled people, prescribed for availing assistance under various government welfare schemes will be completely removed.
• Allocation for scheduled castes sub-plan has been increased from Rs 567. crore to Rs. 3,828 crore .
• The Vote on Account for 2010-2011 and Final Supplementary Estimates for 2009-2010 will be presented on March 26.

On the 26th, the Vote on Account for 2010-2011 and Final Supplementary Estimates for 2009-2010 will be presented.

 

Image courtesy: Wikimedia Commons

Mahindra & Mahindra to supply 1000 tractors to Ghanaian farmers

M&M signed an agreement with the Ghanaian government to supply 1000 tractors to its farmers during this year’s farming season. It will also set up a servicing and training plant to complement the existing one in Kumasi to serve farmers in the Northern and Southern sectors of the country.

Mr. Mahesh Kaskar, Deputy General Manager of International Operations, M&M who signed for the company, promised to supply the tractors to the Ghanaian farmers before the commencement of the farming season this year. He also mentioned that over the past 25 years, M&M has supplied between 600,000 and 700,000 tractors to many countries in the world, adding  “There is a high demand for our tractors and other equipment because of the quality and we hope to replicate that in Ghana and in Africa in general.”

Ghanaian Vice President, John Dramani Mahama said all these were to partly support the Government’s Savannah Accelerated Development Authority (SADA) agenda to bridge the development gap between the North and the southern sector.

Appreciating Mahindra’s initiative, he said, “I am particularly happy that you are setting up plants in Kumasi and Tamale as it will not only serve the people of Ghana, but will also help our brothers from neighbouring Togo, Burkina Faso, Mali and Cote d’ Ivoire in the Sahel region.”

M&M has the capacity to manufacture 250 tractors a day, and will in all likelihood, supply the tractors before May this year

Price Hike On Petrol & Diesel To Stay

NEW DELHI, March 17, 2010:  There will be no rollback in the prices of petrol and diesel, as confirmed by Finance Minister Pranab Mukherjee in the Lok Sabha. Despite demands, walkouts and disruptions by the entire opposition including the NDA, the SP and the RJD, the FM maintained his stand, citing the rollback a “Financial Necessity”.

Replying to the general discussion on Budget 2010-11, Mukherjee said, “I would love to respond to the demands (of the Opposition) but my financial condition does not permit me to do so. Please excuse me. Therefore, I am unable to do so”. Clarifying the scenario, He added, “We cannot live on borrowed resources, I would not like to have a scenario where I have to pledge my gold to borrow money”.

This entails that the basic customs duty of 5 per cent on crude and 7.5 per cent on diesel and petrol will be restored. Also, the hike in the excise duty on petrol and diesel by Re. one per liter, which prompted oil companies to immediately increase the prices of petrol and diesel, will stay.

The hike in the prices of petrol and diesel is expected to affect the prices of other products as well. Fueled by the rebound in the economy and high consumer demand, Inflation has hit Food as well as Non-Food products such as steel and metals.

Responding to questions raised by the opposition concerning Inflation, Mukherjee maintained that the Issue had been taken into consideration while formulating the budget.

New Mahindra & Mahindra Plant Inaugurated At Chakan

NEW DELHI, March 13, 2010: Mahindra Chakan, a 700 acre, future-ready facility set up by automaker Mahindra and Mahindra Ltd (M&M) at Chakan, was inaugurated this Saturday by the Maharashtra Chief Minister, Mr Ashok Chavan.
Initially, the plant will have an annual installed capacity of 300,000 units, including 50,000 trucks. This will enable M&M to manufacture its entire range of products ranging from the 0.75-tonne Maxximo to the 49-tonne Mahindra Navistar truck, as also its sports utility vehicle (SUV) range it plans to launch in the U.S. The plant will initially make the full range of medium and heavy commercial vehicles from the joint venture with Navistar ranging from 25-49 tonne tippers and trucks. It will also accommodate production of other models if required by the future market demand. “We will manufacture all new products here, including the range that will be exported to the US,” Dr. Pawan Goenka, President, Automotive Sector, M&M said.
 Rs. 5,000 Cr. will be invested in the first phase of the plant, making this the largest single investment in the Indian auto sector. According to Dr. Goenka, half of this has already been made, while the other half will be invested over the next 18 months.
Built as a green facility, the plant will tap alternate energy sources such as solar energy and waste heat for use in factory operations. This will reduce the consumption of LPG and electricity in the paint shop, in addition to lowering carbon dioxide emissions by 3,500 tonnes at full volume. Upon completion, Mahindra Chakan will be amongst the most eco-friendly auto plants in the world.
M&M Chakan will house paint shops, press shops and body shops, as also an engine plant with an installed capacity of 1,20,000 engines for utility vehicles and 40,000 engines for trucks. The facility employs around 1,400 people at present. At full capacity, the plant will provide 5,000 direct jobs and five times as many indirect jobs.

Courtesy: The Hindu

NBA & Mahindra Partner To Launch Basketball League In India

               New Co-ed League to Tip Off in Three Cities this April

“We are delighted to be partnering with the NBA to create a multi-city recreational league in India,” said Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group. “In a cricket loving nation such as India, we feel it is important to encourage other sports as well and we believe basketball is perfectly suited to bring communities together and promote healthy, active lifestyles to Indian youth.”

The Mahindra NBA Challenge will begin play on April 17 when participating teams tip off at the St.Dominic Savio and Mustan YMCA courts in Mumbai. 

 “Mahindra is the perfect partner for the creation of a new recreational basketball league for Indian fans,” said NBA Commissioner, Mr. David Stern. “The BFI, Mahindra and the NBA share a long-term commitment to growing the game in India and to using the values of our game to make a positive, lasting impact in Indian communities.”

“Basketball continues to grow in popularity across India and now youngsters in Bangalore, Ludhiana and Mumbai will have the opportunity to play in an organized league and further develop their skills,” said Mr. Harish Sharma, Secretary General of BFI. “The launch by Basketball Federation of India and the NBA of the Mahindra NBA Challenge is very exciting and will help accelerate the basketball development of Indian youngsters.”

Individuals and teams interested in registering can visit registrations.

Contacts:

David M. Lafrennie, NBA, 212-407-8093, dlafrennie@nba.com

Aman Hashmat, Perfect Relations, 9870488005, ahashmat@perfectrelations.com

Roma Balwani, Corporate Communications, Mahindra & Mahindra Ltd., balwani.roma@mahindra.com

Kunal Dutt, Genesis BM, kunal.dutt@bm.com

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Mahindra & Mahindra Among The Top Global Brands from India

M&M among the only two Indian Brands in 'Great Brands of Tomorrow', the top 27 global brands, compiled by Credit Suisse

Auto major Mahindra & Mahindra is one of the only two Indian brands to figure in the list of 27 top 'Great Brands of Tomorrow' compiled by Credit Suisse.

 

M&M shares this honor with leading global brands like Apple, Mercedes, Alibaba.com, Facebook.com and Swatch.The list was developed keeping in mind the stable growth of the equity of the leading brands in the period of next coming years in all three dimensions of scale, profits and returns.

The jury quoted "Strong brand companies have consistently generated out- sized long-term growth and returns for shareholders" after reviewing the competition the ongoing brands provide to the world market.

"We believe a strong brand is one of the most powerful and sustainable advantages a company can have, but one that is often ignored by the financial markets," Credit Suisse, Director, Omar Saad said. Saad also added a point stating,” We believe brand stocks will continue to outperform the market and our proprietary framework analyses brand lifecycles to determine how and when to invest in brands for optimal returns".

During the survey, it was discovered that those companies listed on the S&P 500 spending a minimum of 2 per cent of sales on marketing, outperformed the index by more than 400 basis points annually since 1997.

According to the report, Brand influence is most effective in industries where there is close proximity to the end-user. The brand reputation plays an important role in influencing consumers' purchasing decisions. The downward trend of the financial market has provided leading brands an upper hand to soar skywards and emerge as authoritative brands, while weaker competitors scale down and new entrants delay risky plans.

Credit Suisse said, "Investing in companies that are transforming from niche player into a powerful brand that can be proliferated across new markets and categories offers investors extremely attractive returns.".

Another victory for Mahindra United

Mah U now in I-league second spot after beating Churchill Bros. by 4-1.

Image courtesy: Babble.com

Margao, March 3, 2010: Nehru Stadium at Fatorda witnessed a 4-1 victory for Mahindra United against their biggest rivals Churchill bros and climbed to second spot with 25 points from 14 matches. They are now keen to defeat the table-topper Dempo Sports Club, who have 26 points from 13 matches.

The stars of the match, Mohammed Rafi and Murritala Ali scored two goals each to direct Mahindra United to a convincing 4-1 win in the 14th round of the I-League football tournament on Wednesday.

Rafi scored the first goal of the match in 16th minute giving Mahindra a good head start for the first half. The second half started with Ali scoring in the 56th minute followed by Rafi (70th) and Ali (injury time).

Churchill, started off the game with couple of early scoring chances but failed miserably.

Rafi opened Mahindra’s account with a penalty in the 16th minute when Sushant Mathew was brought down by Rowilson Rodrigues to tap an aerial ball inside the Goal box. In the second half Mahindra’s Strategy was break the opponent’s defense which earned another penalty in the 56th minute when Ali was brought down inside the box by Churchill defender Dhanachandra Singh.

Mahindra Excellence in Theatre Awards kicks off in the city!

New Delhi: After the extended festival weekend the celebration continues as India’s most prestigious theatre honour Mahindra Excellence in Theatre Awards 2010 commences today showcasing their 10 best shortlisted entries. The five-day theatre festival from March 2nd to 6th will culminate in a gala Awards Night on 7th March 2010 in the capital.

Rajeev Dubey, President, After Market, HR and Corporate Services, Mahindra & Mahindra Ltd. said “The first five years of META have seen us cover a lot of ground towards our goal of promoting theatre in India. The exponential growth in number of entries from all over India, the outstanding quality of productions and the unravelling of hidden talent have made this journey a satisfying one for the Mahindra Group.”

 The distinguished Jury at the META 2010 Awards conference. Left to Right: Mr. Ravi Dubey, Mr. Ranjit Kapoor, Mr. M.S. Sathyu, Dr. Vijaya Mehta, Ms. Nayantara Sahgal, Mr. Dhritiman Chaterji and Ms. Seema Biswas

Ravi Dubey, Creative Director, META said “Theatre lovers in Delhi are in for a treat as India’s best theatre productions will compete in front of the illustrious Grand Jury. This is a culmination of a year’s hard work by the performers and directors and I am sure the plays will talk for themselves. I invite each one of you to be part of META’s fifth anniversary celebration.”

The Grand Jury comprising of M. S. Sathyu, Dr. Vijaya Mehta, Dhritiman Chatterji, Nayantara Sahgal, Ranjeet Kapoor and Seema Biswas were also present on the occasion.

META is staging its first Hindi play ‘Roop Aroop’ at Sriram centre on Tuesday, March 2nd at 5: 00 pm. This play has the popular performing tradition of “NAUTANKI” as its backdrop. The tussle between the male accomplished actor and the aspiring woman entrails could not have been an easy one. This is an attempt by two young actors to explore some human dimensions of this phenomenon. The man may exit but the popular female persona continues to persist.

The tickets for Mahindra theatre festival priced at Rs 100 each are available at Teksons’ Book Shop, South Extension-1, New Delhi as well as online at www.buzzintown.com. All proceeds go to Nanhi Kali – a project supporting the girl child.

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Mahindra Excellence in Theatre Awards kicks off in the city

Mahindra’s auto sales register 39.5% growth in February 2010

Mumbai, March 2, 2010: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $6.3 billion Mahindra Group, today announced that its auto sales for the month of February 2010 stands at 27894 units, as against 19994 units in February 2009, an increase of 39.5%.

The company’s domestic sales stand at 26580 units, as against 19594 units in February 2009, an increase of 35.7%. Exports have grown by 228.5%.

Total UV sales in February 2010 which includes the Scorpio, the XYLO, the Bolero and Pick-Ups stand at 18280 units, as against sales of 14720 units in February 2009.

Mahindra’s YTD sales stand at 266583 units in February 2010, as against 203966 units for the same period last year.

Sales Summary Feb-2010
Segment	Feb F10	Feb F09	YTD Feb F10	YTD Feb F09
UVs	18280	14720	193214	133682
3 Wheelers,Gio & Maxximo	6907	3415	49729	40490
MNAL LCVs	856	451	8845	7834
MRPL Logan	537	1008	4982	12461
Domestic Total	26580	19594	256770	194467
M&M Exports	1314	300	8813	8039
MRPL Exports	0	100	1000	1460
Sector Total	27894	19994	266583	203966

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Mahindra’s auto sales register 39.5 per cent growth in February 2010