The company is facing margin pressure due to higher input costs, devaluation of the rupee and increase in some raw material costs
Mahindra & Mahindra (M&M), India's largest utility vehicle (UV) manufacturer, said it would increase prices of its passenger as well as its commercial vehicles by up to 2%. This increase would be in the range of Rs6,000 to Rs20,000, depending on the model from 1 October 2013. The increase is primarily due to higher input costs, devaluation of the rupee and increase in some raw material costs.
Pravin Shah, chief executive for automotive division at M&M said, “We have been holding back prices for a while but now it has become necessary to raise them due to increasing input costs, devaluation of the rupee and increase in some raw material costs. As always, Mahindra remains committed to its customers".
Maruti Suzuki (India) Ltd, the country’s largest carmaker, too had said that it would increase prices of all its vehicles from first week of October by up to Rs10,000 mainly due to the depreciation of the rupee.
The apex court also took strong exception to Srinivasan still holding the charge of BCCI when his son-in-law has been charge-sheeted in IPL spot-fixing case
The Supreme Court on Friday restrained N Srinivasan from taking charge as president of Board of Control for Cricket in India (BCCI) even if he gets elected in the annual general meeting (AGM) of the Board on 29th September in Chennai.
While taking strong exception to Srinivasan still holding the charge of BCCI when his son-in-law has been charge-sheeted in Indian Premier League (IPL) spot-fixing case, the apex court has allowed the Board to hold its AGM and conduct the election for the post of President.
“You will not assume the charge as BCCI President until we decide the matter,’’ the apex court told Srinivasan.