Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi, <keyword id="45473" type="General" weightage="20" keywordseo="Mahindra-Holidays" source="Orion">Mahindra Holidays</keyword> &amp; Resorts India Ltd on Monday reported a consolidated profit after tax of Rs 21.43 crore for the second quarter ended September 2023. The company had reported a consolidated Profit After Tax (PAT) of Rs 41.4 crore in the corresponding period of the previous financial year, according to a regulatory filing. Its revenue from operations during the July-September quarter stood at Rs 655.27 crore, as against Rs 598.36 crore in the year-ago period, it said. The company's total expenditure also rose to Rs 636.32 crore, from Rs 574.65 crore a year ago.

Mahindra Holidays & Resorts' consolidated PAT almost halves in Q2 2023-24

Timeshare resort major <keyword id="161607" type="General" weightage="20" keywordseo="mahindra-holidays-resorts-india-ltd" source="Orion">Mahindra Holidays &amp; Resorts India Ltd</keyword> closed the second quarter of FY23 with a lower net profit on a higher income. According to the company, for Q2FY23 it logged a profit of about Rs 30.90 crore (Q2FY22 profit of about Rs 40.55 crore) on an operational revenue of about Rs 283.60 crore (Rs 237.66 crore). The company's total expenditure for the period under review went up by about Rs 49.75 crore during Q2FY23 as compared to the same period the previous year. The company's Board that met on Wednesday also decided to shift the registered office from <keyword id="20154" type="General" weightage="80" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> to <keyword id="13126" type="General" weightage="20" keywordseo="Maharashtra" source="Orion">Maharashtra</keyword> and the alteration to the <keyword id="251761" type="General" weightage="80" keywordseo="memorandum-of-association" source="Orion">Memorandum of Association</keyword> subject to the approval of the shareholders and the central government. The company's scrip after opening at Rs 286.15 went down and was changing hands at about Rs 279 per share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/electric-mobility-platform-moeving-raises-2-5-million-from-jsw-ventures/articleshow/95252790.cms">Electric mobility platform MoEving raises $2.5 million from JSW Ventures</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-capital-bidders-flag-off-multiple-legal-issues-involving-rs-20000-crore-liability/articleshow/95248934.cms">Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability</a>

Mahindra Holiday & Resorts books lower net in Q2 shares down

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> founder Ritesh Agarwal as well as <keyword id="45473" type="COMPANY" weightage="20" keywordseo="Mahindra-Holidays">Mahindra Holidays</keyword> chairman Arun Kumar Nanda believe people are not going to fly anytime soon. </li><li>The aviation industry is staring at losses to the tune of ₹25,000 crore, according to a CRISIL report. </li><li>The fear of the crashing aviation sector is real. Billionaire Warren Buffett’s company Berkshire Hathaway recently sold all of its stocks in US-based airlines.</li></ul>“Goa may be the new Thailand,” said OYO founder Ritesh Agarwal when asked about his post-COVID-19 strategy. The CEO of Mahindra Holidays, too, believes people aren’t going to fly anytime soon. So both companies are banking local destinations more than foreign travel. The reasons for billionaire <a href="https://www.bbc.com/news/world-us-canada-52518186">Warren Buffett</a>’s company Berkshire Hathaway dumping all of its airline stocks ⁠— Delta Airlines, American Airlines, Southwest Airlines and United Airlines ⁠— are similar. Buffett had gone on to say he was “wrong to invest in the <keyword id="34989" type="PERSON" weightage="20" keywordseo="airlines-industry">airlines industry</keyword>.” And now, the chief of <keyword id="42740" type="COMPANY" weightage="20" keywordseo="Emirates">Emirates</keyword> Airlines just confirmed the industry’s worst fears. “We expect it will take 18 months at least, before travel demand returns to a semblance of normality,” Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said this week after the group, which operates one of the world’s largest airlines, posted 28% fall in profit as global travel came to a standstill in March. The coronavirus pandemic has left the Indian airlines sector stranded on the runway. All domestic and international flights have been suspended ever since the lockdown. “It will take 2-3 years for air travel to return to 2019 levels and a few more years to return to long-term growth trends according to <keyword id="6357957" type="ORGANIZATION" weightage="20" keywordseo="boeing">Boeing</keyword>,” said a Centrum Broking report last week. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2389060" data-url="https://flo.uri.sh/visualisation/2389060/embed"></div>]]></cdata></div> <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2389156" data-url="https://flo.uri.sh/visualisation/2389156/embed"></div>]]></cdata></div> In China, where the coronavirus pandemic began earlier, and is now abating, the economy is slowly recovering. Even <a href="https://www.china-briefing.com/news/chinas-tourism-industry-sees-signs-revival-labor-day-holiday/">domestic tourism</a> in China is still less than 60% of what it was last year. “ Foreign travel may take longer to recover. In their recent earnings call, Arun Kumar Nanda, chairman of Club Mahindra, said that shorter distances should do better than remote and that is why Mahindra is continuing with its expansion plans as well. “Domestic tourism is going to increase,” he said during the call. The aviation industry is staring at losses to the tune of ₹25,000 crore, according to a CRISIL report. “These are preliminary estimates, and aggregate losses could increase if the lockdown is extended beyond the first quarter. As and when operations resume, overall operational capacity will hover at 50-60% for the rest of the fiscal. Consequently, mergers and acquisitions of airlines, and relook at expansion plans of private and upcoming greenfield airports would be possibilities," <a href="https://www.livemint.com/news/india/covid-19-impact-indian-aviation-may-incur-rs-25-000-crore-losses-says-crisil-11588838896045.html">said Jagannarayan Padmanabhan</a>, director and practice leader, transport &amp; logistics, Crisil Infrastructure Advisory. <a href="https://www.thehindu.com/opinion/op-ed/will-the-aviation-industry-recover-from-the-pandemic/article31359708.ece">Globally</a>, the industry’s revenues could be cut by $252 billion in 2020. See Also: <a href="https://www.businessinsider.in/finance/news/bajaj-finance-shares-surge-as-sanjiv-bajaj-cheers-msme-nbfc-stimulus/articleshow/75729879.cms">Bajaj Finance shares surge as Nirmala Sitharaman’s cash injection for both NBFCs and small businesses will benefit Sanjiv Bajaj’s company</a> <a href="https://www.businessinsider.in/business/news/kotak-mahindra-bank-q4-profit-down-4-pc-to-rs-1952-cr/articleshow/75712873.cms">Uday Kotak says Kotak Mahindra Bank 'needs to be clear on lending' as profits dip by 4% fall in the fourth quarter</a>

OYO and Mahindra Holidays’ new strategy is based on the premise that airlines are doomed for a while⁠— both Emirates and Boeing agree

New Delhi, May 9 () Mahindra Holidays &amp; Resorts India Ltd on Saturday reported a consolidated loss after tax of Rs 161.51 crore for the fourth quarter ended March 2020. The company had posted a consolidated net profit of Rs 52.35 crore in the same period a year ago, Mahindra Holidays &amp; Resorts India said in a regulatory filing. Revenue from operations in the fourth quarter stood at Rs 616.61 crore, as against Rs 634.59 crore in the year-ago period. The company said in the fiscal ended March 2020, it posted a consolidated loss after tax of Rs 134.26 crore. It had posted a consolidated profit after tax of Rs 59.57 crore in 2018-19. Revenue from operations in 2019-20 stood at Rs 2,371.87 crore, as compared to Rs 2,238.99 crore in the previous year. RKL ABMABM

Mahindra Holidays posts Rs 161.51 cr loss in Q4

New Delhi, May 3 () Mahindra Holidays &amp; Resorts India Ltd (MHRIL) on Sunday said it plans to first reopen resorts that are at drivable distance from the metro cities once the coronavirus lockdown is lifted. The Mahindra Group firm has currently suspended operations at its resorts in compliance with the government directives. "At Club Mahindra we have over 255,000 member families and once travel restrictions are relaxed and state borders open up, and people feel comfortable enough to travel again, we expect our members and their families to start travelling to our resorts in their own vehicles, since we are at drivable distances from major cities," MHRIL MD and CEO Kavinder Singh told . The company is gearing up for this by putting in place all the necessary safety related standard operating procedures (SOPs). It will ensure the highest levels of hygiene standards (hospital grade) to achieve a quick return to normalcy, he added. "We will first open resorts that are at a drivable distance from the major metro cities," Singh said. He, however did not share the number of resorts that would be opened in the first phase. The company has over 100 resorts in India and abroad. Asked about the steps the company is taking to ensure the health and safety of guests and employees at the resorts, Singh said: "In view of the current situation we are implementing various SOPs which will cover hygiene and disinfection norms at all the touch points in our resorts." The company will ensure social distancing norms for members at its resorts. The resorts are much bigger than traditional hotels, have open spaces and are spread out and this helps in facilitating social distancing norms, he added. "The entire guest experience right from check in to resort experiences including F&amp;B will be contactless. Our best-in-class experiences will help keep our members and their families engaged, while maintaining the highest safety and hygiene standards," Singh said. Club Mahindra is partnering with experts in the healthcare and technology spaces for implementing these enhanced safety procedures and contactless services, he added. Asked about the impact of the pandemic and subsequent lockdown on the hospitality industry, Singh said: "COVID-19 is a true Black Swan event that presents an unprecedented challenge to the hospitality and aviation industries in India and globally. It has deeply impacted the hospitality industry with occupancies declining sharply, as India went into lockdown from March 25." According to recent estimates, the overall revenue of the Indian hotel industry will decline by about Rs 90,000 crore in 2020, an erosion of 57 per cent compared to last year. More importantly, it is estimated that there will be around 38 million job losses, he said. On the way forward for the industry, Singh said the sector expects a slow recovery as there will be many strict travel restrictions even as the lockdown begins to get lifted. Domestic travel will begin much faster than international travel, but both will take some time to fully recover. He further said the industry is expecting support from the government for its survival. "Most of the hospitality players have debt on their books and industry is hoping for a debt recast and for the moratorium to be extended to 12 months. This would certainly provide much-needed relief," Singh said. The industry is also hoping for waiver or deferment of statutory payments and minimum electricity demand charges as this will help it with the working capital situation, he added. "The industry also employs millions of people, so it would be helpful if there is some level of support for them, such as a direct benefit package for the staff who keep the industry running," Singh said. For the revival of the industry, the annual leave travel allowance (LTA) should be made tax-free, every year, so that people have more money to spend on travel once things get better, he added. AKT ABMABM

Mahindra Holidays to first reopen resorts near metro cities post lockdown

<ul><li>Shares of <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> plunged as much as 9% today on lower than expected March quarter earnings.</li><li>Analysts have cut down company estimates as the profit margin of the company remains under pressure due to cost pressures led by higher employee costs and a rise in travel costs.</li><li>As a result, shares of other information technology firms also fell today in an already weak market.</li></ul>IT giant Infosys disappointed investors as the stock of the company plunged nearly 9% on poor Jan-Mar quarter earnings. Stable deal wins and lower than the expected profit margin of the company due to cost pressures led by higher employee costs and rise in travel costs among concerns that impacted Infosys stock. Infosys ADR stock, which trades on the US stock market, slipped 14% in previous 5 sessions because of weak earnings at a time when Indian markets were closed due to holidays. “Infosys' 4Q (March quarter) results missed estimates mainly due to muted growth of 1.2% on quarter constant currency. However, its 13-15% revenue growth guidance for FY23 and all-time high net additions reflect a strong demand outlook,” said analysts at Jefferies. After considering the seasonal weakness in the Jan-Mar quarter, Infosys result was still disappointing. “Infosys' growth in 4Q disappointed even considering the seasonal weakness. Muted growth in its top-2 verticals (BFSI and Retail) and top markets (North America and Europe) and a sharp decline in Life Sciences vertical possibly due to one-off contractual issues resulted in the subdued growth performance,” said a report by Jefferies. <div type="image" title="infosys 2" height="900" width="1200" msid="90906620" hostid="261"></div> Besides, Infosys’ attrition worsened more in the March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>’ attrition rate of 17.4% in the same quarter. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. The market capitalisation of the top company fell to ₹6.8 lakh crore from ₹7 lakh crore last week. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Moreover, analysts expect the share price of the company to rise more as the demand outlook for the future remains strong. As of 11:27 p.m. shares of the company stand at ₹1,621 per share, down by 7.29%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,970 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,040 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,135 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,050 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms">Extreme Poverty in India declined 12% in the last decade, says World Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/exim-bank-recruitment-2022-checkout-vacancies-eligibility-criteria-and-other-details/articleshow/90904895.cms">Exim Bank recruitment 2022: Checkout vacancies, eligibility criteria and other details</a>

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

<ul><li>Nepa has conducted a quantitative survey to understand how is the audience preparing for <keyword id="36208" type="PERSON" weightage="20" keywordseo="festive-season">festive season</keyword> this year. It had also done a prelude of changing <keyword id="139079" type="PERSON" weightage="20" keywordseo="Consumer-behaviour">consumer behaviour</keyword> during COVID in the last quarter.</li><li>The new report talks about what consumers are looking at gifting people during the festive season, their travel sentiments and how their overall festive sentiments have been impacted by the Covid situation.</li></ul>Consumer Research and analytics company Nepa did a prelude of changing consumer behaviour during COVID in the last quarter. The report addressed the changing consumer patterns across categories relevant in current times and how consumers are tackling the lockdown on emotional front. The consumer insights firm recently conducted a quantitative survey to understand how is the audience preparing for festive season this year. The OND 2020 is crucial equally for brands &amp; agencies given the festive spends. But the dynamics is so different this year with the pandemic. Are the consumers excited about the key festivals? In the Consumer Narrative report released during early stages of lockdown, Nepa talked about ‘Conscious Shopping’ where consumers were looking at purchases centred around basic necessities of grocery, health &amp; hygiene factors. Over the last 6 months, the paradigm has shifted. As lockdown is easing out and as home quarantine is becoming a new normal, 71% of the consumers are looking forward to buy new clothes for themselves and family. After all the baking and cooking ventures over last few months, close to 70% consumers are keen on gifting the basics in the form of sweets/chocolates/ confectionaries to their loved ones. After a wave of digital normalisation, the latest research by Nepa tells that smartphones became the 3rd clear choice for gifting for close to half of the consumers who participated in the survey, specifically males. Personal care and grooming products are next in line followed by health/immunity boosting products, foods. While females and younger audience in the age group of 18 to 34 is plans to invest in apparel, electronics and health related products, the older audience (35-45) is considering high investment products like Television, furniture for home and home appliances to make the homestay more comfortable. Most importantly, despite COVID there’s almost no one who is not willing to spend on gifts this Diwali &amp; year end. A close to 30% in fact see themselves spending more on gifts this year as compared to last year, 20% would spend at least the same they spent last year, while a half would be conservative with their gifting budgets. However, there are some concerns that are clouding consumers – 43% feel that their usual gift options are not available due to COVID. Close to 1/3rd are speculating that they won’t get discounts from retailers like previous years. 28% worry that home appliances would be costlier this year. Though majority believe in delivery services provided by digital marketplaces across categories and aren’t worried about getting their gifts delivered to their desired locations. “We know that current times have definitely impacted the festive sentiment. But at the same time, it looks like a season to look for a reason too. There is no definite answer on “What will Matter” as we get back given the changes in affinity for categories month on month. But the positivity from <keyword id="412367" type="PERSON" weightage="20" keywordseo="consumer-sentiment">consumer sentiment</keyword> is definitely hinting at a narrative based on optimism. To spend, to celebrate &amp; To continue the festivities with safety at core,” said <keyword id="9379807" type="PERSON" weightage="20" keywordseo="esha-nagar">Esha Nagar</keyword>, Managing Director Nepa India. “Priorities and Purchase patterns are definitely undergoing a possible lasting transformation with every month. In this situation, a regular mapping of underlying missions behind the reason to purchase is critical,” Nagar further added. As lockdown eases out, consumers are able to go back to their usual choice of brands and products. In most parts, the daily routine has started normalizing, however the yearn for travel is a common theme across. Traveling restrictions are slowly being retracted and most consumers are already planning for excursions at a scale that are acceptable. Though 40% of them would not be travelling at all this festive season, not for a vacation and not even to visit their families. Of those who are planning to travel, 1 in 4 are hoping to get away for weekend trips in locations near their city. 32% plan to visit their families or friends in other city, while 20% resort to only long drives within the city to get a travel window. It is the age group of 25–34 that is most inclined to travel in any capacity they can. On travel optimism, our client partner, <keyword id="1201208" type="PERSON" weightage="20" keywordseo="Pratik-Mazumder">Pratik Mazumder</keyword> – CMO, Mahindra Holidays &amp; Resorts India Limited says “Tourism is steadily reviving in India with several states opening up for travellers. As health and safety takes precedence over leisure, people are opting for off-beat, non-congested tourist destinations and stays. We are seeing an increased demand for trends like weekend getaways, staycations and road trips.” He further added,” There is a significant increase in domestic travel and people are holidaying in destinations that are within drivable distances and in the safety of their own vehicles. The focus of hospitality sector on hygiene and safety protocols will only get sharper in the coming years as travel behaviour changes in the post Covid world. People are choosing trusted brands like <keyword id="477996" type="PERSON" weightage="20" keywordseo="Club-Mahindra">Club Mahindra</keyword> as their holiday experience partners. In lieu of this, companies are taking extra care and efforts to ensure contactless services and offer access to good healthcare facilities, wherever possible.” Travel sentiment also is a mixed bag of optimism and caution that we see through our quantitative results and several consumer connects last few months. Consumers are either restricting themselves and family keeping in mind the greater risk of second wave and ever increasing COVID +Ve count or they are stepping out with their belief on the immunity system and precautions they take.

Nepa's latest survey reveals 30% people see themselves spending more on gifts this festive season as compared to last year

Mumbai, Mar 5 () Mahindra Heavy Engines on Thursday said it has doubled its energy productivity much ahead of the target year, making it India's first and the world's third manufacturing facility to achieve the feat in a record four years from a 2016 baseline. Mahindra Heavy Engines Ltd (MHEL) has achieved this feat through its membership to The Climate Group's EP100 initiative, the company said in a release. The Climate Group is a non-profit organisation that works with business and government leaders around the world to address climate change. "The EP 100 journey has enabled Mahindra to reduce cost, drive innovation and support the environment. Doubling energy productivity in short span of time is a feat that we are very proud of," Mahindra Vehicle Manufacturers Ltd CEO and Chief Manufacturing Operation for automotive sector at M&amp;M Ltd, Vijay Kalra said. The company also ensured manufacturing efficiency improvement through cycle time reduction, production shift optimisation, resource optimisation and built flexibility in the process to avoid addition of equipment, it said. "By integrating smarter energy use into their business strategy, they are driving down greenhouse gas emissions while boosting the bottom line. MHEL is the first EP100 member from India to achieve this ambitious goal," said Mike Peirce, Corporate Partnerships Director at The Climate Group. Besides MHEL, Mahindra &amp; Mahindra Mahindra, Mahindra Holidays &amp; Resorts India Ltd, Mahindra Vehicle Manufacturers Ltd and Swaraj Engines Ltd are the other group companies that have signed EP 100 initiative, the release stated. IAS MRMR

Mahindra Heavy Engines doubles energy productivity

New Delhi, Mar 22 () Mahindra Group Chairman Anand Mahindra on Sunday proposed lockdown for the next few weeks, expressing concerns over reports that India is likely to have already reached stage-3 of coronavirus transmission. He also offered the facilities of the group's hospitality arm as medical care facilities while the group will work on how its manufacturing facilities can make ventilators. "Going by various reports from epidemiologists, it is highly likely that India is already in stage-3 of transmission. Cases could rise exponentially with millions of casualties, putting a huge strain on medical infrastructure," Mahindra said in a series of tweets. He further said, "A lockdown over the next few weeks will help flatten the curve and moderate the peak pressure on medical care. However, we need to create scores of temporary hospitals and we have a scarcity of ventilators." Sharing plans of the group which has presence across sectors ranging from farm equipment to aerospace, he said, "To help in the response to this unprecedented threat, we at the Mahindra Group will immediately begin work on how our manufacturing facilities can make ventilators." Mahindra further said, "At Mahindra Holidays, we stand ready to offer our resorts as temporary care facilities." The group's project team stands ready to assist the government and the Army in erecting temporary care facilities, he said adding that the Mahindra Foundation will create a fund to assist the hardest hit in our value chain (small businesses and the self employed). Mahindra also said he will contribute his 100 per cent salary to the fund and add more over the next few months while encouraging "associates to voluntarily contribute". "I urge all our various businesses to also set aside contributions for those who are the hardest hit in their ecosystems," he said. RKL HRS

Coronavirus outbreak: Mahindra proposes lockdown for few weeks

<ul><li><keyword id="6355744" type="COMPANY" weightage="20" keywordseo="Mahindra-Group">Mahindra group</keyword> offered internship opportunity to the son of a <keyword id="42050" type="PERSON" weightage="20" keywordseo="Millionaire">millionaire</keyword> <keyword id="109832" type="POSITION" weightage="20" keywordseo="oil-trader">oil trader</keyword>. </li><li><keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, Chairman of Mahindra group took to twitter to applaud the efforts of the 19-year-old son — <keyword id="8298429" type="UNKNOWN" weightage="20" keywordseo="dwarkesh-thakkar">Dwarkesh Thakkar</keyword> — who ran away to <keyword id="6357787" type="LOCATION" weightage="20" keywordseo="shimla">Shimla</keyword> to earn his living. </li><li>This came after Dwarkesh Thakkar was in the headlines for washing utensils in a hotel in Shimla and sleeping on roads.</li></ul>Mahindra group offered internship opportunity to the son of a millionaire oil trader — who wanted to be independent and prove his potential to his parents. On Sunday, Anand Mahindra, Chairman of Mahindra group took to twitter to applaud the efforts of the 19-year-old son — Dwarkesh Thakkar — who ran away to Shimla to earn his living. “Doing a Sunday catch-up on my reading. I admire this young man. He wanted to strike out on his own. He may seem just like an eccentric runaway, but he could also be tomorrow’s successful, independent entrepreneur. I’d be happy to offer him an internship at @MahindraRise,” he tweeted. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="9813" retweetcount="1081" status="Doing a Sunday catch-up on my reading. I admire this young man.. He wanted to strike out on his own. He may seem ju… https://t.co/pUsPNLOV6i" createdat="1573371728000" id="1193433643982577665"></div>

 “It is a great opportunity for me and I will definitely take it up if I can get in touch with anyone from the company,” Dwarkesh <a href="https://timesofindia.indiatimes.com/city/vadodara/mahindra-offers-internship-to-millionaires-runaway-son/articleshow/71998938.cms">told</a> the Times Of India (ToI). His father Rakesh Thakkar, on his son being offered internship by Mahindra told TOI that “Dwarkesh has just one aim — to make it big on his own one day.” This came after Dwarkesh Thakkar was in the <a href="https://timesofindia.indiatimes.com/city/vadodara/millionaires-missing-son-found-washing-vessels-in-shimla-hotel/articleshow/71929846.cms">headlines for washing utensils</a> in a hotel in Shimla and sleeping on roads, thanks to the two Vadodara police officers who figured him in Shimla during a holiday. According to a TOI report, he has been working in the hotel fir over a month. Engineering student Dwarkesh, who left his home in Padra to attend college on October 14 had merely ₹1,250 with him. However, he didn’t return to his home that day and decided to take a train to Delhi, after which he was untraceable by the police for almost a month. Dwarkesh didn’t want to study or go to college, which is why he wanted to leave his home in Padra. See also: <a href="https://www.businessinsider.in/careers/news/almost-half-the-companies-in-india-offering-internships-eventually-hire-the-same-candidates/articleshow/71607885.cms">Almost half the companies in India offering internships eventually hire the same candidates</a> <a href="https://www.businessinsider.in/careers/news/iim-calcutta-students-receive-over-1-lakh-monthly-stipend-for-analyst-internships/articleshow/71515437.cms">IIM Calcutta students receive over ₹1 lakh monthly stipend for analytics internships</a> <a href="https://www.businessinsider.in/careers/news/indias-top-b-school-graduates-are-being-paid-over-2-lakh-for-summer-internships/articleshow/71500201.cms">India’s top b-school graduates are being paid over ₹2 lakh for summer internships</a>

Anand Mahindra offers internship to a millionaire’s son who left home to have his own identity

<ul><li>India's benchmark stock indices are set for the best April since 2009.</li><li>However, over half of those gains came in the last week of trading, and a big chunk of it Thursday, April 30. </li><li>At least three out of the top ten weekly gainers, IndusInd Bank, HDFC, and ICICI Bank, were buoyed by hopes that loan defaults in India won't be as bad as previously expected.</li><li>Follow the latest news and highlights on businessinsider.in.</li></ul>India's top ten listed companies together added a whopping ₹3.1 lakh crore to market capitalisation last week. In a week, shortened by a holiday, India's benchmark indices gained over 7%. However, the sharpest rise in percentage terms, among the blue-chip stocks, came from companies outside of the heavyweights like Reliance Industries, Tata Consultancy Services (TCS), and the HDFC twins. American drug maker Gilead’s success in a clinical trial has given the world hope of finding a cure for COVID-19 coronavirus pandemic. That led to an over- 1,000 point rally in the Sensex on Thursday (April 30) morning, in sync with <a href="https://www.businessinsider.in/stock-market/news/dow-soars-530-points-as-coronavirus-treatment-optimism-overshadows-gdp-slump/articleshow/75460930.cms" data-type="tilCustomLink" target="_blank">the optimism around the globe</a>. <div type="Article" hostid="261" msid="75459632" title="Indian-American-led clinical trial of remdesivir in COVID-19 treatment shows positive results" mstype="2" mssubtype="0"></div> The Indian benchmark indices, Sensex and Nifty, have gone up 14% since April 3, but more than half of those gains came in the last week of trading ⁠— at a time when <a href="https://www.businessinsider.in/policy/economy/news/this-is-how-global-economies-are-expected-to-grow-in-the-first-year-after-coronavirus-pandemic/articleshow/75441608.cms" data-type="tilCustomLink" target="_blank">Moody’s slashed India’s growth forecast</a> for calendar year 2020 to 0.2%, from 2.5% it had projected in March, <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms" data-type="tilCustomLink" target="_blank">layoffs continue</a>, earnings from a top lender (<a href="https://www.businessinsider.in/business/corporates/news/axis-bank-q4-earnings-show-bad-loans-ease-but-ceo-amitabh-chaudhry-maintains-caution/articleshow/75429938.cms" data-type="tilCustomLink" target="_blank">Axis Bank</a>) disappointed, and some of the world’s <a href="https://www.businessinsider.in/business/news/sachin-bansal-takes-the-same-line-as-donald-trump-and-elon-musk-let-people-work-and-live-with-coronavirus/articleshow/75453465.cms" data-type="tilCustomLink" target="_blank">most influential billionaires</a> lost their patience with the economic shutdown. Though they had no impact on the market, two of India's most-talented Bollywood stars, <a href="https://www.businessinsider.in/entertainment/news/irrfan-khans-inspiring-journey-from-chandrakanta-to-macbeth-to-a-father-struggling-to-get-his-child-into-a-school/articleshow/75445225.cms" data-type="tilCustomLink" target="_blank">Irrfan Khan</a> and <a href="https://www.businessinsider.in/entertainment/news/rishi-kapoor-passes-away-at-67/articleshow/75464201.cms?upache=2" data-type="tilCustomLink" target="_blank">Rishi Kapoor</a>, passed away making the general mood a lot worse. While the bigger picture looked bleak, there were quiet celebrations happening in different pockets of the Indian share market. At least two out of the top ten weekly gainers, IndusInd Bank and HDFC, were buoyed by hopes that loan defaults in India won't be as bad as previously expected. Here’s a look at the top 10 gainers among the blue-chip stocks this week ending April 30: <table style="width: 461pt;"> </colgroup> <tbody><tr> <td class="xl66" style="height:15.0pt;width:128pt">Stock</td> <td class="xl67" style="border-left-width: initial; border-left-style: none; width: 98pt;">Gains this week</td> <td class="xl68" style="border-left-width: initial; border-left-style: none; width: 235pt;">Trigger</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none;">Tata Motors </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">23.93%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Jaguar Land Rover has <a href="https://www.livemint.com/auto-news/jaguar-land-rover-recovers-up-to-75-production-in-china-as-demand-returns-11588159987336.html" data-type="tilCustomLink" target="_blank">restored three-fourths of its budgeted production</a> in China </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;">ONGC</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20.34%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Raised ₹1,000 crore via commercial papers at a cheap rate of 4.13% per annum. This showed debt market’s strong interest in India’s largest explorer despite an oil crash that has hammered its cash flows, <a href="https://economictimes.indiatimes.com/markets/stocks/news/ongc-issues-cps-worth-rs-1000-crore-at-4-13-interest-rate/articleshow/75416400.cms" data-type="tilCustomLink" target="_blank">the Economic Times reported</a>. </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;">UPL</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">19.76%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The agrochemical maker said that the business is less affected by COVID crisis because farming continues with push from governments to ensure adequate food supply during lockdown. The company also repaid 30% of its debt in the last 3 months.</td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;"><a href="https://economictimes.indiatimes.com/hindalco-industries-ltd/stocks/companyid-13637.cms" data-type="tilCustomLink" target="_blank">Hindalco</a> </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17.21%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The <a href="https://www.businessinsider.in/business/corporates/news/hindalco-novelis-completes-acquisition-of-aleris/articleshow/75151080.cms" data-type="tilCustomLink" target="_blank">Aleris acquisition turned out</a> to be better than expected. Hindalco decided to pay an additoinal $50 million due to the better than expected performance revealed in the latest results. </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;"><a href="https://www.businessinsider.in/business/auto/article/hero-moto-share-price-is-at-a-six-year-but-exports-karizma-and-xtreme-sports-can-help/articleshow/74190134.cms" data-type="tilCustomLink" target="_blank">Hero Motocorp</a></td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17.05%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The stock has been on an uptrend since mid April due to a host of reasons including hopes that COVID fears may push people to avoid public transport in the near future but not everyone may be able to afford a car </td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none;">GAIL India </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">15.74% </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">At the start of the week, the stock was down 50% in the last one year and nearly 20 'Buy' recommendations. </td> </tr> <tr> <td class="xl69" style="height: 60pt; border-top-width: initial; border-top-style: none;">Vedanta</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">15.21%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The rally in Vedanta was part of a larger change in sentiment in favour of metal stocks hoping for a reduction in competition from China.</td></tr><tr><td class="xl69" style="height: 60pt; border-top-width: initial; border-top-style: none;">HDFC </td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.96% </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">The IndusInd Bank experience eases fear of defaults by borrowers of India's largest mortgage lender. </td> </tr> <tr> <td class="xl69" style="height: 45pt; border-top-width: initial; border-top-style: none;">HCL Tech</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.58%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Nomura gave a 'Buy' call on the stock on April 20 with a target price 25% higher. The stock has rallied since and is just ₹25 short of the target. </td> </tr> <tr> <td class="xl71" style="height: 60.75pt; border-top-width: initial; border-top-style: none;">IndusInd Bank</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13.82%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 235pt;">Earnings surprise as borrowers continue to <a href="https://www.businessinsider.in/stock-market/news/indusind-bank-shares-skyrocket-by-10-as-its-customers-choose-not-to-defer-paying-off-loans/articleshow/75425195.cms" data-type="tilCustomLink" target="_blank">repay loan instalments</a> </td> </tr></tbody></table>There will be no trading on May 1 on account of Maharashtra Day celebrations. The money did not come from the foreign investors. They continued to be net sellers in the cash market for the fourth straight month. It was domestic institutional investors like mutual funds that bought the most in this rally. “Markets this week rallied from the lows seen in March 2020. After almost a month of lockdown the world over, early signs of easing of the same along with some signs of the flattening of the COVID -19 curve spurred hope of economic activity resuming albeit at a slow pace. Some promise of a possible cure with positive preliminary results of a few drugs also added to hope and optimism," Shibani Sircar Kurian, Executive Vice President, Fund Manager &amp; Head- Equity Research,Kotak Mahindra Asset Management Company said. <div type="image" title="fii dii data" msid="75466705" hostid="261" caption="&amp;lt;p&amp;gt;Foreign investors in Indian share market remain net sellers for the fourth straight month. &amp;lt;/p&amp;gt;"></div> So, what does the road ahead look like? “The Fear Of Missing Out will drive many investors – including myself – off the sidelines," said Nigel Green, founder and chief executive of deVere Group, a global financial advisory firm. “Investor exuberance is contagious. As the markets move steadily higher - unfazed by the recent poor economic data from the peak of the pandemic – it can be expected that the uptick will further sharpen due to that powerful investor sentiment: FOMO," he added. If FOMO drives some of the global investors back to India, the rally may spillover into May. However, investors must also remember that the month of May is usually one where stocks underperform, leading to the widely-known adage "<a href="https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp" data-type="tilCustomLink" target="_blank">sell in may and go away</a>." Will May 2020 break the trend? SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indusind-bank-shares-skyrocket-by-10-as-its-customers-choose-not-to-defer-paying-off-loans/articleshow/75425195.cms" data-type="tilCustomLink" target="_blank">IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-shares-are-rising-ahead-of-earnings-because-every-two-out-of-five-rupees-in-revenue-come-from-telecom/articleshow/75445808.cms" data-type="tilCustomLink" target="_blank">Tech Mahindra shares are rising ahead of earnings because every two out of five rupees in revenue come from telecom⁠</a> <a href="https://www.businessinsider.in/policy/economy/article/a-corporate-lawyer-explains-why-indias-power-companies-cant-get-lower-tax-rate/articleshow/75442365.cms" data-type="tilCustomLink" target="_blank">Lawyers explain why India's power producers can't avail the lower tax rate</a> <a href="https://www.businessinsider.in/stock-market/news/hero-moto-to-tech-mahindra-to-wipro-indias-top-ten-cheapest-stocks-investors-can-buy-now/articleshow/75007066.cms" data-type="tilCustomLink" target="_blank">From Hero Moto to Tech Mahindra to Wipro ⁠— ten of India’s cheapest stocks that you could buy for bargain now</a>

India's blue-chip indices see a dizzying rally this week⁠— these are the top ten gainers and what pumped them up

<ul><li>The company has announced non-working days for 5 of its manufacturing plants “due to continued weak demand”.</li><li>The number of non-working days in a plant is as high as 18 days. </li><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>, Mahindra &amp; Mahindra, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> and Hero Motocorp had all announced no production days owing to the weak demand.</li></ul>Ashok Leyand is the latest auto manufacturer to announce a production cut. The company said that five of its manufacturing plants have non-working days “due to continued weak demand”. Its plants in Ennore, Hosur and CPPS, Alwar, Bhandara and Pantnagar will have many holidays in September. The number of non-working days in a plant being as high as 18. In August, <keyword id="6357085" type="PERSON" weightage="20" keywordseo="ashok-leyland">Ashok Leyland</keyword> saw a drop of about 50% in total. Its truck sales alone came down by 70% as compared to the year before. The truck manufacturer isn’t the only one to cut production. In fact, the company joins a long line of automakers – Maruti Suzuki, Mahindra &amp; Mahindra, Tata Motors and Hero Motocorp –who announced no production days. In August, Tata Motors’ sales declined by 58%, Maruti Suzuki’s fell by 33%, Mahindra &amp; Mahindra’s fell by 25% while Honda’s fell by 51%. Passenger vehicle sales in India saw their worst ever month, registering its worth ever month in the last two decades. The first quarter results of most auto companies were equally dismal as their revenues and profits both fell. See Also: <a href="https://www.businessinsider.in/business/auto-sales-in-august-see-highest-ever-de-growth-in-19-years-as-it-drops-18-7/articleshow/71045315.cms">Auto sales in August see highest ever de-growth in 19 years as it drops 18.7%</a>

You Searched For "Mahindra Holidays" and got 12 results

Mahindra Holidays & Resorts' consolidated PAT almost halves in Q2 2023-24

PTI

Mahindra Holiday & Resorts books lower net in Q2 shares down

IANS

OYO and Mahindra Holidays’ new strategy is based on the premise that airlines are doomed for a while⁠— both Emirates and Boeing agree

Sanchita Dash

Mahindra Holidays posts Rs 161.51 cr loss in Q4

PTI

Mahindra Holidays to first reopen resorts near metro cities post lockdown

PTI

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

Bhakti Makwana

Nepa's latest survey reveals 30% people see themselves spending more on gifts this festive season as compared to last year

BI India Partner

Mahindra Heavy Engines doubles energy productivity

PTI

Coronavirus outbreak: Mahindra proposes lockdown for few weeks

PTI

Anand Mahindra offers internship to a millionaire’s son who left home to have his own identity

Prerna Sindwani

India's blue-chip indices see a dizzying rally this week⁠— these are the top ten gainers and what pumped them up

Sriram Iyer

Ashok Leyland joins the club of ‘No Production Days’ as its August sales fall by 50%

Sanchita Dash

Popular Keywords

Buying Guides