Mahindra & Mahindra (M&M) is eyeing an acquisition opportunities in the farm equipment segment in South Korea. The company currently sells the tractor in the US under the Mahindra brand and these tractors are sourced from South Korean tractor manufacturer, Tong Yang Moolsan Company. The company is also planning at sourcing other farm equipment products from South Korea to sell in other markets as well.
Recently, M&M and Telephonics Corporation, a subsidiary of Griffon Corporation had signed a memorandum of understanding to form a joint venture to provide the Indian Ministry of Defence (MOD) and the Indian civil sector with radar and surveillance systems, Identification Friend or Foe (IFF) devices and communication systems.
The company’s net profit after tax for the quarter has marginally declined by 2.78% of Rs 737.38 crore as compared to Rs 758.49 crore for September quarter of the year 2010. The company’s total income has increased by 34.75% at Rs 7592.14 crore for Q2FY12 as compared to Rs 5634.13 crore for the corresponding quarter of the previous year.
| Company Name | CMP |
|---|---|
| Tata MotorsPassenger | 355.35 |
| Maruti Suzuki | 13725.40 |
| Mahindra & Mahindra | 3329.50 |
| Hyundai Motor India | 1852.45 |
| Mercury Metals | 30.94 |
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