Bajaj Auto's market capitalisation (market cap) hit Rs 2 trillion mark for the first time. The stock of the two and three-wheeler major rallied 6 per cent to hit a new high of Rs 7,420 on the BSE in Tuesday's (January 9) intraday trade after its board approved Rs 4,000 crore share buyback at Rs 10,000 per share. The stock ended the day at Rs 7,093.75, up 1.55 per cent and its market cap a shade above Rs 2 trillion.
President Donald Trump has said if Elon Musk's Tesla built a factory in India to avoid that country's tariffs, it would be unfair to the US. Trump's comments came amid moves by him to increase tariffs significantly. On February 13, hours before Prime Minister Narendra Modi's bilateral meeting with Trump at the White House, the US President announced reciprocal tariffs.
Macroeconomic data announcements, trading activity of foreign investors and global trends will guide equity market movement this week, which would also mark the beginning of the new calendar year and month, analysts said.
'Presumption of innocence must guide all formal actions, but transparency must not be mistaken for pre-judgment.' 'The cruel irony, however, is that Justice Varma is a fine judge who enjoys a reputation for writing well-reasoned judgments.'
The meltdown in Dalal Street that wiped out investor wealth to the tune of 44 trillion in 2025 also seems to be having a ripple effect on the country's vibrant automobile retail sales.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
Benchmark stock indices Sensex and Nifty rallied more than 1.6 per cent to close at lifetime high levels on Thursday following buying in banking, oil and auto shares and a record dividend payout by the RBI to the government. Regaining the 75,000 level after its best single-day gain since January 29, the 30-share BSE Sensex closed at all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent over the last close.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors reported decline in wholesales in August as the companies curtailed vehicle dispatches amid drop in demand and to cut inventories at dealer level. Market leader Maruti Suzuki India said its total domestic passenger vehicle wholesales were at 143,075 units last month as compared to 156,114 units in the year-ago month, registering a dip of 8 per cent. Sales of mini segment cars, comprising Alto and S-Presso, declined to 10,648 units last month as against 12,209 units a year ago.
Tata Elxsi (TelX) reported a weak Q3FY25, with a sharp deceleration in the transportation vertical. However, recent deals in the Asia-Pacific (APAC), higher mix of original equipment makers (OEMs) and partnership with Qualcomm will improve growth. FY25 is the third successive financial year of revenue growth deceleration and second successive financial year of profit deceleration.
Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports.
The two-wheeler giant had only 14 per cent of the electric two-wheeler market in May this year, but its 26.8 per cent in December
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.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
The Mumbai police have recorded Bollywood actor Saif Ali Khan's statement in connection with the knife attack on him by an intruder at his residence last week, officials said on Friday.
American electric carmaker Tesla has opened recruitment for various roles in India, including business operations analyst and customer support specialist, in what could be a precursor for the company's entry into the country. As per the job postings on the company's website, the posts are for the 'Mumbai Suburban' area.
In a lengthy statement on X late Monday night, a defiant Kamra said those busy leaking his number on social media or calling him incessantly should know that it all goes to his voicemail where they will be subjected to "the very song" that they hate.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Auto parts maker Sona BLW Precision Forgings (Sona) reported strong revenue in the fourth quarter of financial year 2023-24 (Q4FY24) as demand for electric vehicles expands. The company reported a 19 per cent year-on-year (Y-o-Y) increase in sales to beat street estimates. Sales were powered by a 34 per cent growth in the battery electric vehicle (BEV) segment and a good show in the differential gear segment.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
'Currently, EVs are about 30-50 per cent more expensive than ICE vehicles. I believe the inflection point for EVs will come when this price gap narrows to 20-25 per cent. That's when people will start coming in.'
Two Japanese auto giants, Honda and Nissan, are moving towards a potential merger, but it remains unclear how their Indian operations will be immediately impacted.
The Bombay High Court has ruled that the use of loudspeakers is not an essential part of any religion and has directed law enforcement agencies to take prompt action against loudspeakers that violate noise pollution norms. The court also ordered the state government to direct religious institutions to adopt mechanisms for controlling noise levels, including calibrated sound systems with auto-decibel limits. The decision came in response to a petition filed by two housing associations alleging police inaction against noise pollution caused by loudspeakers installed on mosques in the area.
India's Head Coach Gautam Gambhir has seen both ends of the spectrum with high of Champions Trophy and low of six Test losses and he'll have tough choices to make once the new two-year cycle comes around with the new season.
Shares of Tata Consultancy Services (TCS), the country's largest IT services provider, continue to remain under pressure, hitting a new eight-month low of Rs 3,624.90 intraday on Tuesday before closing at Rs 3,631, down 1.19 per cent. In the past two trading sessions, the stock price has declined 4 per cent on fears of a slowing US economy.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
Automobile retail sales in India rose 13 per cent year on year in February with all the segments, including passenger vehicles and two-wheelers, witnessing robust offtake, dealers' body FADA said on Thursday. Overall retail sales stood at 20,29,541 units last month as compared to 17,94,866 units in the year-ago period. Passenger vehicle sales grew 12 per cent to 3,30,107 units last month as against 2,93,803 units in February 2023.
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
Maruti Suzuki India on Wednesday said its consolidated net profit increased by 16 per cent to Rs 3,727 crore for the third quarter ended December 31, 2024. The auto major had reported a net profit of Rs 3,207 crore in the October-December period of last fiscal.
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
The trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, sources said. They said the country was the fourth-largest gainer when the US imposed higher duties on Chinese goods during US President Donald Trump's first tenure.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
'India has very strong tariffs on certain imports from the US. Like in the automobile sector, India charges 100 per cent'
India should convert the Trump threat to an India opportunity, re-embracing a more liberal trade regime as a way of reviving manufacturing output and exports.
Trump has made it clear to Prime Minister Modi that India will not be spared from Washington's reciprocal tariffs and emphasised that "nobody can argue with me" on tariff structure.
The previous May peak was observed in 2018 when the domestic PV wholesales stood at 301,238 units.
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