M&M hike vehicles prices by up to Rs15,000

Auto major Mahindra & Mahindra said it has raised prices of its entire range of vehicles by up to Rs15,000 from last week.

"We have hiked prices last week by 1.5% to 2% on all our vehicles due to higher commodity costs," Mahindra & Mahindra president (automotive and farm sectors) Pawan Goenka said.

The price hike will vary between Rs7,000 to Rs15,000 on different models, he added.

The company sells utility vehicles like Scorpio and Bolero along with three wheeler commercial vehicles. It also manufactures and sells sedan Logan.

This is the second price increase taken by the company in 2011. Earlier, in January this year Mahindra & Mahindra had raised vehicle prices by about 1.5%.

On Friday, Mahindra & Mahindra ended 0.63% down at Rs727.75 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.71% to 19,451.45.

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IRDA issues guidelines on distance marketing of insurance policies

IRDA issued guidelines on distance marketing of products to protect the interest of people who buy policies over phone or Internet

Insurance regulator IRDA (Insurance Regulatory and Development Authority) issued guidelines on distance marketing of products to protect the interest of people who buy policies over phone or Internet.

The IRDA said that distance marketing, which includes phone calls, SMSes and emails, should be done through employees of insurers or brokers, or specified person of corporate agent or telemarketers.

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Shilpi Cable debuts with over 13% premium on BSE

Shilpi Cable Technologies started the day at Rs78.35 on the BSE as against the issue price of Rs69 a share, reflecting a jump of 13.55%

Cables manufacturer Shilpi Cable Technologies made a strong debut on the bourses today, listing with a premium of over 13% on the Bombay Stock Exchange (BSE) vis-a-vis its issue price.

The company started the day at Rs78.35 on the BSE as against the issue price of Rs69 a share, reflecting a jump of 13.55%. Within minutes, the stock surged by 22.68% to touch an early high of Rs84.65 on the bourse.

In a similar fashion, the company opened the day at Rs78, up by 13.04% on the National Stock Exchange. On the volume front, over three crore shares of the company were traded on the bourses within the first one hour of trade.

The company had fixed a price band of Rs65-Rs69 a share for its Rs55.88 crore initial public offer.

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pappu

6 years ago

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