Supply chain constraints will keep plaguing automobile companies even though demand significantly improved resulting in a 13 per cent year-on-year (YoY) increase in sales in financial year 2021-22 (FY22). Executives at auto firms fear that the Russia-Ukraine war will further dent the sector's prospects of recovery as supply chains face more disruptions. "The visibility in the supply side is so hazy that it is difficult to give even one quarter projection. But all the parameters of demand like pending bookings and enquiries are increasing.
Auto sales, particularly of two-wheelers, may not bounce back immediately and may take another two months to come back on track even as car bookings have started seeing an initial uptick. Various states started Unlock 2.0 on Monday, following a fall in the number of Covid-19 cases. Auto sales were hit in May following the impact of Covid-led lockdowns.
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The first leg of the 35-day festive period, which ended with Dussehra, failed to bring any cheer for auto companies. While makers of passenger vehicles struggled to meet demand due to the persistent shortage of semiconductors, a recovery in demand remained elusive for two-wheeler manufacturers despite offers and schemes. The overall season, which ends two days after Diwali, is unlikely to bring any turnaround in either the supply or the demand scenario, said dealers and officials at auto companies.
This comes days after a 23-year-old woman from Jaipur has alleged that Rohit Joshi, the son of Rajasthan Minister for Public Health Engineering, raped her on multiple occasions over a year, following which the Delhi Police has registered a zero FIR initially.
Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
A summary of Ranji Trophy matches played on Thursday.
Amid the fear of a possible third wave of COVID-19 pandemic as the country gradually eases restrictions, Neeraj Nischal, Assistant Professor Department of Medicine at All India Institute of Medical Sciences on Sunday said that human behaviour is one of the factors which will determine Covid waves.
In March last year, a petition was filed in the Supreme Court by Rajat Sharma and Dr Neh Srivastava who demanded that a former Jammu and Kashmir chief minister be booked under the sedition law, claiming he had sought China's help to restore the erstwhile state's special status.
The MEA said that the Chinese side has conveyed to India on several occasions that it was only undertaking run-of-the-river hydropower projects, which do not involve diversion of the waters of the Brahmaputra.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
Before he was killed along with seven colleagues during a raid on Vikas Dubey's hideout, Deputy Superintendent of Police Devendra Mishra had suggested that the then Kanpur SSP was "protecting" the then station officer of Chaubeypur who had links with the gangster, audio clips of his purported phone conversations show.
The NCB has so far arrested 16 people, including Bollywood superstar Shah Rukh Khan's son Aryan Khan, 23, in the drug seizure case.
Four people were killed and at least 10 injured Monday morning after a fire broke out in a hotel here, prompting authorities to issue orders for demolition of the four-storey building after following the 'due process'.
The ministry of external affairs said both sides suffered casualties that could have been avoided had the agreement arrived at earlier at the higher level been scrupulously followed by the Chinese side.
Size matters on the road. Small is not dominating India's car market any more. The share of cars priced up to Rs 5 lakh in the passenger vehicle market has fallen to 10.5 per cent in the first 11 months of 2021-22, compared with 26 per cent in 2018-19 (FY19), the lowest in four years, according to data from industry sources. Even the share of those in the price range between Rs 5 lakh and Rs 7.5 lakh has dropped to 32.4 per cent in the same period, from 34.9 per cent.
Priced at Rs 754,689, this is the sixth model from the company's portfolio after Alto, WagonR, Swift, Baleno and Dzire to be BS-VI compliant.
Passenger vehicle market leaders Maruti Suzuki and Hyundai on Saturday reported a decline in wholesales in December 2021, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, amid semiconductor shortage continuing to impact production. Other manufacturers Nissan and Skoda also reported an increase in December 2021 sales although Honda Cars India witnessed a decline last month. The country's largest carmaker Maruti Suzuki India (MSI) reported a 4 per cent fall in wholesales to 153,149 units in December 2021 as against 160,226 units a year ago.
The clear assertion by New Delhi came ahead of a fresh round of Lt General-level talks between the Indian army and the Chinese PLA which government sources said is set to take place within the next two days.
India's GDP estimates for 2020-21 show that the economy is expected to perform much better than earlier projections by different agencies, indicating a sustained V-shape post-lockdown recovery, experts said. The first Advance Estimates (AE) by the National Statistics Office (NSO) has projected a contraction of 7.7 per cent in the real GDP during 2020-21. This was better than the projections by certain international agencies like the IMF and World Bank.
External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi met in Moscow on Thursday amid hopes of a possible breakthrough in reducing tensions along the Line of Actual Control (LAC) in eastern Ladakh.
In an affidavit submitted before a division bench of Chief Justice Dipankar Datta and Justice M S Karnik, PMO Under Secretary Pradeep Srivastava said the PM's photograph, name and national emblem were also used in the Prime Minister's National Relief Fund (PMNRF).
India on Thursday said that ensuring a comprehensive disengagement of troops in all the friction areas in eastern Ladakh is the 'immediate task', remarks that came ahead of another round of military talks with China on the border standoff.
On the first day of his two-day visit to Ladakh, Gen Naravane held a series of meetings with top commanders about the evolving situation in the region as well as on India's overall combat readiness to deal with any eventualities, military sources said.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
In a strong response to China's objection to development of infrastructure on the Indian side of the LAC, New Delhi also asserted that Beijing has no locus standi to comment on India's internal matters.
The talented artiste was invited to sing at the Tiffany's fashion show that was hosted at the Hermitage Hotel, Monaco, as part of the festival this year.
Delhi Police on Wednesday alleged that farmer leaders made inflammatory speeches and were involved in the violence during the tractor parade by agitating farmers that left 394 of its personnel injured and warned that no culprit will be spared.
'Both sides have agreed that the overall situation should be handled in a responsible manner'
At least 12 passengers were killed and two others missing after a Maharashtra state transport bus fell into the Narmada river from a bridge in Madhya Pradesh's Dhar district on Monday, officials said.
CBI officer V K Shukla, who is probing the death of Jharkhand Judge Uttam Anand, is among 15 officers of the agency awarded the 'Union Home Minister's Medal for Excellence in Investigation' for the year 2021, officials said Thursday.
Experts believe FPIs will keep a close watch on coronavirus pandemic, its spread and likely impact on the economy while making decisions about investment into India.
The Supreme Court collegium headed by CJI N V Ramana has learnt to have recommended eight names of judges, including acting chief justice of Calcutta High Court Justice Rajesh Bindal, for their elevation as chief justices of different high courts.
Former oil secretary Tarun Kapoor, present and former chairmen of ONGC and a former director of IOC, are among over a dozen people who have applied for the top job at the oil and gas regulator, PNGRB, sources said. Kapoor, who superannuated as Secretary to the Ministry of Petroleum and Natural Gas last month, is the most prominent name in the list of 13 persons who have applied to become the chairman of Petroleum and Natural Gas Regulatory Board (PNGRB). Oil and Natural Gas Corporation (ONGC) chairman and managing director Subhash Kumar and his predecessor Shashi Shanker are also in the race and so is G K Satish, who superannuated as Director for Planning and Business Development from Indian Oil Corporation (IOC) a couple of months back.
'We have always maintained we are committed to addressing issues, if any, in a peaceful and bilateral manner'
Pandemic-hit auto majors are likely to set aside these time-tested strategies for now, and, instead, focus on attractive finance schemes and an enhanced digital experience.
Even media persons covering the agitation manage to reach the protest sites with difficulty as they first have to pass through checking and then cross multiple layers of barricading. A Bharatiya Kisan Union office-bearer at Ghazipur border, which now resembles a highly-secured fortress, said despite the odds, supporters from far-off places are reaching the site to express solidarity with farmers.
Bhasin, a prominent voice in the women's movement in India and other South Asian countries, breathed her last at a New Delhi hospital.
A house meeting has been scheduled for Saturday as per the Parliament's notice and the matter relating to the constitution amendment bill is likely to come during the meeting, parliamentary sources said. Meanwhile, in a conciliatory tone, India on Thursday said it deeply values its friendly ties with Nepal.
The DGCA is conducting special audit of all airlines and airports which are in monsoon-affected areas in the wake of multiple landing incidents across the country.
