Cars priced above Rs 25 lakh account for 1 per cent in India's 3 million-car market and the share has remained unchanged over the last five years.
This rise was spurred by record kharif sowing - after a good rabi season - that ensured high disposable incomes in rural India.
First off the block will be a new multi-purpose vehicle which is being co-developed with Toyota - Suzuki's alliance partner. The model will also wear a Toyota badge.
The development comes after the shareholders of Ambadi Investments, the holding company of the Rs 38,100-crore Murugappa Group, voted against the induction of 59-year-old Valli Arunachalam, the eldest daughter of former executive chairman M V Murugappan, into its board.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Fund managers said investors remained positive on the pharma manufacturing activity in India, which further strengthened during the Covid-19 period, on account of restrictions imposed on pharma imports from China.
While airlines are seeing improved demand and industry-wide seat occupancy has increased to over 60%, it is road trips which are generating higher traction. Booking trends show that customers are also choosing homestays or four- star and five-star accommodations, as hygiene and safety is a priority now.
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
From watches and sunglasses to trekking/fitness bicycles, online shoppers seem ready to loosen purse strings.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
Mahindra Holidays & Resorts plans to have close to 5,300 rooms in the next 3- 4 years from the current 3,700 rooms.
Good sowing of kharif crops, better minimum support prices, and fewer Covid-19 cases (in villages) will help the rural growth story to continue, says Maruti.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
Recovery was largely driven by the European Union markets.
The pandemic has confined students across all ages to home and digital education is the only way to continue learning.
As macroeconomic numbers continue to disappoint, reaching pre-Covid level is unlikely in FY21.
The company signed a JV agreement with Coal India to set up 5000 Mw of solar and thermal projects. These projects are expected to commence between 2023 and 2027.
With the Thar, M&M has come full circle. In a market where every other vehicle has an SUV tag, the company plans to stick to its core competence of making rugged, true-blue, all-terrain SUVs, and marks a fresh beginning for the 75-year-old firm that enjoyed an indomitable position in the SUV segment till 2012, reports Shally Seth Mohile.
Increase in kharif sowing area, good monsoon, rural cash flows and base effect among factors that have driven volumes.
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