M&M to open second phase of bookings for new SUV for 10 days

M&M has decided to undertake a draw in the next round of bookings in case the requests for the latest Sports Utility Vehicle (SUV) from exceed 7,200.

Leading SUV maker Mahindra and Mahindra Ltd (M&M) said it will open the second phase of bookings for XUV500 for 10 days from 25 January 2012.

The company has decided to undertake a draw in the next round of bookings in case the requests for the latest Sports Utility Vehicle (SUV) from the M&M stable exceed 7,200.

This will help in ensuring a reasonable waiting period for the customers selected in a fair and transparent manner, the company said.

The draw process will be validated by professional services firm Deloitte Touche Tohmatsu India Pvt Ltd (DTTIPL) and details will be announced on the brand's website, Vivek Nayer, senior vice president-marketing, automotive division, M&M, said at a conference.

The bookings for the XUV500 had to be temporarily deferred just post-launch as four months' production of over 8,000 units was sold out within just 10 days in five cities, Mr Nayer said.

Meanwhile, speaking in Ahmedabad, another M&M executive said delivery of XUV500 is expected to commence from mid-February 2012.

"We shall close bookings for XUV500 on 3 February 2012. Thereafter, we shall have a draw process. Our endeavour is to announce the winners before 15 February 2012, and deliveries shall commence very soon after that," M&M Vice-President (Sales) Vijay Nakra said.

In the late afternoon, Mahindra & Mahindra was trading at around Rs680 per share on the Bombay Stock Exchange, 3.68% down from the previous close.

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Chambal Fertiliser & Chemicals posts Rs1.2-crore loss in Q3 2012

Net sales of Chambal Fertiliser rose by 32% to Rs1,783.71 crore in the third quarter of the current fiscal.

Chambal Fertilisers and Chemicals reported a net loss of Rs1.24 crore for the quarter ended 31 December 2011.

The company had reported a net profit of Rs107.42 crore in the year-ago period, it said in a filing to the BSE.
 
Net sales of the company, however, rose by 32% to Rs1,783.71 crore in the third quarter of the current fiscal from Rs1,352.70 crore in the same period of the previous fiscal.

The total expenditure of the company rose by 39% to Rs1,665.08 crore in the October-December 2011 quarter from Rs1,195.54 crore in the year-ago period.

Chambal has two fertiliser (urea) manufacturing plants located in Kota district of Rajasthan with an annual capacity of about 2 million tonne.

In the late afternoon, Chambal Fertiliser & Chemicals was trading at around Rs77.30 per share on the Bombay Stock Exchange, 1.53% down from the previous close.

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Companies bill: Minority protection

The new Companies Bill protects minority shareholders in a variety of ways

The much-awaited...

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