Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Mahindra First Choice Services acquires key assets of Carnation Auto

Posted On: 2018-12-03 12:00:14

Mahindra First Choice Services (MFC Services) today announced that it has entered into an asset acquisition agreement with the official liquidator of Carnation Auto (India) Pvt. Ltd. (CAPL). As a result, MFC Services will acquire key assets of Carnation's car-servicing business including the trademark 'Carnation', its website, software licenses and Carnation's workshop network. It will also drive MFC Services strategic vision of organizing the unorganized Indian automotive aftermarket industry.

Mr. Rajeev Dubey, Group President (HR & Corporate Services) CEO (After-Market Sector) said, "This strategic acquisition will strengthen Mahindra First Choice Services' business and its leadership position in the Indian automotive aftermarket industry. It will also bring new growth opportunities, thanks to synergies between the two brands, and expanded access to new institutional customers including insurance companies and fleets."

"We are pleased to welcome Carnation's franchisees into the MFC Services family. With this acquisition, we will add significantly to MFC Services existing network of 330 workshops. This will enhance our presence across India and help us offer our customers a more comprehensive and attractive service solution." said Mr. YVS Vijay Kumar, CEO, and Mahindra First Choice Services.

This asset acquisition does not include the liabilities and past dues of CAPL which is currently under liquidation. MFC Services will now increase its penetration in metro cities, especially in Delhi, the NCR and Mumbai, which are strategic to its business growth plans.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.790.2 as compared to the previous close of Rs. 773.1. The total number of shares traded during the day was 347291 in over 3833 trades.

The stock hit an intraday high of Rs. 796.45 and intraday low of 776. The net turnover during the day was Rs. 273675693.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Punjab & Sind Bank declares Financial Results for the Quarter/ Year Ended 31.03.2019

Excel Industries Ltd Board approves Dividend of Rs. 18.75

NGL Fine-Chem Ltd board recommends final dividend of Rs. 1.75

NCC Ltd Board recommends Dividend of Rs. 1.50 for FY19

Dixon Technologies India Ltd Board recommends Final Dividend of Rs. 2

Housing and Urban Development Corporation Ltd Board approves Dividend for 2018-19

PNC Infratech Ltd Board approves Dividend of Rs. 0.50

Zuari Global Ltd Board recommends Dividend of Rs. 1 for 2018-19

BATA India Ltd Board recommends Dividend of Rs. 6.25 for FY19

Whirlpool of India Ltd Board recommends Dividend for FY 2018-19

Grasim Industries Ltd Board recommends Dividend of Rs. 7

Meghmani Organics Ltd Board recommends Final Dividend of Rs. 0.40 for FY19

Ashok Leyland Ltd Board recommends Dividend of Rs. 3.10

Pudumjee Paper Products Ltd Board approves Dividend of Rs. 0.15 for 2018-19

H G Infra Engineering Ltd Board approves Dividend of Rs. 0.50

Page Industries Ltd Board approves Dividend of Rs. 41

Ponni Sugars Erode Ltd board recommends Dividend of Rs. 2 for 2018-19

Kaira Can Co Ltd Board recommends Dividend of Rs. 6.50

Sudarshan Chemical Industries Ltd Board recommends Dividend of Rs. 6

Varroc Engineering Ltd announces Q4 & FY19 results

Zenith Fibres Ltd Board recommends Dividend for 2018-19

Varroc Engineering Ltd board recommends dividend of Rs. 4 for 2018-19

Ashoka Buildcon Limited Consolidated Revenue crossed Rs 5,000 Crores in FY19

Lancer Container Lines Ltd declares Q4, FY19 results

CG-VAK Software & Exports Ltd Board approves Dividend for FY 2018-19

DIL LTD Board recommends Final Dividend of Rs. 1.25

Welspun India Ltd Bord recommends Dividend of Rs. 0.30

HeidelbergCement India Ltd Board approves Dividend of Rs. 3

Vardhman Holdings Ltd board recommends dividend of Rs. 5 for FY19

Emmbi Industries Ltd Board recommends Dividend for 2018-19

Unichem Laboratories Ltd Board recommends Dividend of Rs. 4 for FY2018-19

Panama Petrochem Ltd Board recommends Dividend of Rs. 1.20 for FY19

Kaycee Industries Ltd Board recommends Dividend of Rs. 10 for 2018-19

Salzer Electronics Ltd board recommends dividend of Rs. 1.60 for 2018-19

AMJ Land Holdings Ltd Board approves Dividend of Rs. 0.30 for 2018-19

Empire Industries Ltd board recommends dividend of Rs. 25 for 2018-19

Advanced Enzyme Technologies Ltd announces Financial Results for the quarter and year ended March 2019

Kridhan Infra Ltd arm files for insolvency in Singapore

Infosys Completes Formation of Strategic Partnership with ABN AMRO in the Netherlands

Genesys International Corporation Ltd Board approves Dividend for 2018-19

I G Petrochemicals Ltd reports Q4, FY19 results

ITD Cementation India Ltd board recommends dividend of Rs. 0.40

Prima Plastics Ltd board approves dividend of Rs. 1 for FY19

Acrysil Ltd Board approves Dividend of Rs. 1.20

Munjal Auto Industries Ltd Board approves Dividend of Rs. 1

Ramco Systems FY19 revenue grows 16% and Net Profit by 45% in INR

IG Petrochemicals Ltd Board approves Dividend for FY19

Balaji Telefilms Ltd Board recommends Final Dividend for 2018-19

Sagar Cements Ltd Board recommends Dividend of Rs. 2.50

Asian Star Company Ltd board recommends dividend of Rs. 1.5







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019