From the Sensex pack, Tech Mahindra, HDFC Bank, Larsen & Toubro, ITC, Infosys, IndusInd Bank, Kotak Mahindra Bank, Titan and HCL Technologies were among the gainers. Maruti Suzuki India, Tata Steel, Bajaj Finance, UltraTech Cement, Nestle India, Axis Bank and Tata Consultancy Services (TCS) were among the laggards.
India may see its busiest EV festive season in 2025 with SUVs, luxury cars and scooters set to launch, but rare-earth supply bottlenecks risk delaying rollouts.
Maruti Suzuki's announcement that a proposed factory in Gujarat will be owned not by it but by a fully-owned subsidiary of Suzuki Motor Corporation gives rise to several questions related to corporate governance - and to larger questions about the regulation of multinationals in India.
Global energy giant Shell has acquired Mumbai-based Raj Petro Specialities to deepen its foothold in the world's third biggest lubricants market in the world, a top company official said. Shell, which has already invested over $5 billion in India across the energy value chain -- from LNG import terminals and fuel stations to renewable energy and technology centres -- has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group.
Hit by recurrent labour unrest at its Manesar unit in Haryana, Maruti Suzuki India Ltd (MSIL) on Thursday said the company would introspect on whether an affiliated union with a pro-business approach and mature leadership would benefit the company.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
Maruti Suzuki India growing by a paltry two per cent in January, recorded the lowest growth in this financial year, which could be due to the launch of Tata's Nano.
A group of casual workers have been sitting in front of the Manesar plant, asking the company to let them rejoin work.
The country's largest car maker Maruti Suzuki India on Tuesday reached a wage settlement agreement with its workers at its Gurgaon plant, under which the employees will get an average salary hike of Rs 18,000 per month spread over three years.
The unit has a manufacturing capacity of 700,000 cars in two shifts. This means the Japanese major is cutting production by 35,000 cars as higher loan rates and a slowing economy sapped demand for automobiles. Sales at Maruti, 54 per cent owned by Suzuki, fell 7 per cent in October. India is the biggest global market for Suzuki, Japan's second-largest minicar maker.
In the last two days, the company had done the ground work for resumption of work in the press, weld and paint shops by bringing in additional workers.
Will sign agreement with vendors to make sure indigenisation takes place within given timeframe.
Maruti Suzuki India on Tuesday reopened its Manesar plant amid heavy security, a month after a lockout was declared due to the violence in which one senior company official was killed and 100 others injured.
Rs 15,000-cr investment planned to protect vendors from rising realty prices
Shows i10 in poor light two weeks after Hyundai took swipes at Ritz.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
Under the campaign --'Beat The Heat', the company will also offer free top wash, TrueValue evaluation and exchange.
Maruti is trying to move up the segment by focusing on premium cars, SUVs and even trucks.
MSI exported 70,023 units in the 2008-09 fiscal.
Khattar's place will be taken by Shinzo Nakanishi, who is currently the chairman of MSIL. R C Bhargava, who is a director, has been named the new chairman.
The country's largest car maker Maruti Suzuki India (MSI) on Thursday said it is considering increasing prices of its products from next week to offset the impact of rupee depreciation.
The company said sales of the compact segment comprising Swift, Estilo, Ritz surged over two fold to 17,409 units
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
Japanese manufacturer Suzuki displayed two cars at the Frankfurt Motor Show that have a huge potential for launch in India.
Passenger vehicle dispatches from companies to dealerships witnessed an increase of 1.6 pc year-on-year in January at 399,386 units driven by robust demand for utility vehicles, industry body SIAM said on Thursday. It was the highest-ever passenger vehicle dispatch for the month of January.
The latest round of violence in Manesar brings into sharp focus how Maruti could have done better in terms of industrial relations management.
As rivals gain ground, the market share of the country's largest car-maker, Maruti Suzuki India, continues to hover below the 50 per cent mark, despite the firm posting its best-ever monthly domestic sales in July.
The labour unrest at Maruti Suzuki India's Manesar plant took a violent turn on Thursday when a group of supervisors were attacked on their way to work, with five of them sustaining injuries.
Car market leader Maruti Suzuki India on Monday reported 24.1 per cent increase in net profit for the quarter ended December 31, 2007, at Rs 467 crore (Rs 4.67 billion).
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got subscribed 2.37 times on the third day of the bidding on Thursday, helped by institutional buyers. This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore. The Rs 27,870 crore initial share sale got bids for 23,63,26,937 shares against 9,97,69,810 shares on offer, translating into 2.37 times subscription, as per NSE data.
Still recovering from the impact of workers' violence in July at the Manesar plant, the company also said it is looking at 10 per cent increase in overall production this fiscal.
Apple Inc's iPhones assembled in India achieved market revenues of Rs 162,000 crore. Tata Steel's revenue for the same period was Rs 162,324 crore.
India's largest automobile manufacturer, Maruti Suzuki is planning to launch the company's entry-level sports utility vehicle, Jimny in the country by the year-end.
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Country's largest car-maker Maruti Suzuki India continues its dominance on the Indian roads, with its four models, led by entry-level small car Alto.
Named ConceptFutureS, it is a uniquely styled compact car with distinct SUV like characters and will define the next generation of design for compact vehicles in India, the company said.
'It will take some more time because the affordability of these cars have changed drastically.'
Maruti Suzuki India on Thursday said it will hire about 500 workers in this fiscal for the second unit at Manesar facility that was operationalised last year.
The company's best selling hatch Alto would come at a discount of Rs 24,500, while Wagon-R petrol and LPG would come cheaper by Rs 45,000 and Rs 24,500 respectively. A discount of Rs 48,000 is being offered on Zen Estilo. The discount being offered across various models also includes finance payouts and exchange bonus apart from the customer offer.
Some economists have said the industry's woes have shown signs of bottoming out.
Maruti Suzuki India, is expecting its sales to grow by over 10 per cent during the current fiscal on the back of last year's low-base and is planning to upgrade all its models to Bharat Stage-IV emission norms compliant by March 2010.
