From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
The move marks the entry of GWM, one of the largest manufacturers of sport utility vehicles (SUVs) and pick-ups, into the Indian market and a complete exit for GM from the country, two years after it stopped selling cars here.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
We import from China not because we love China, but because they sell us these things at cheap prices, points out Rathin Roy.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the $73-mark to quote at a seven-month low of $72.65
'We have the geographic advantage, demographic advantage, we have the necessary technical skills.' 'We just have to get all of these together. Then, we can very well compete.'
Within three trading sessions in May, foreign portfolio investors (FPIs) have pumped in Rs 9,461 crore into Indian equities. This follows net inflows worth Rs 7,936 crore in March, and Rs 11,631 crore in April. The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India.
Oil and select auto heavyweights bore the brunt of selling pressure; ONGC, RIL, Tata Motors, M&M key losers.
Over 22 passenger and commercial vehicle makers and 18 two- and three-wheeler makers will take part amid proximate security.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
However, IT stocks fell on weak growth forecast by Gartner
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
Falling sales at home have failed to douse the company's zeal to grow abroad.
Outbound shipments of engineering products in June to these nations doubled to $1.32 billion in June 2020, from $653.52 million in June 2019.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
China is the world's bright spot when it comes to car sales. Despite a slowdown in sales, China has even dethroned the US as the world's biggest auto market--every month this year, more cars have been sold in China than in America, where industry sales have plunged by a third in recent months.
China's National Health Commission on Thursday said the country reported only four new confirmed COVID-19 cases on Wednesday, taking the total number to 82,862, while no death due to the disease was registered. The virus has claimed 4,633 lives in the country.
Trump is demanding China to reduce the $375 billion trade deficit and protection of Intellectual Property Rights, technology transfer and more access to American goods to Chinese markets.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
Market leader Maruti Suzuki India's passenger vehicles sales declined by 2.34 per cent last month at 133,702 units. Hero MotoCorp reported total two-wheeler sales of 480,196 units last month, down 20.05 per cent.
Despite carmaker drama in the U.S., and a failed deal with Chrysler, China's auto champ may be poised to go international.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
Japan's total trade with China rose by 30 per cent year-on-year to $301.9 billion last year, exceeding $300 billion.
Among major Sensex shares, PowerGrid fell the most by 2.76 per cent. IndusInd Bank dropped 2.34 per cent, HUL by 2.23 per cent and NTPC by 2.04 per cent. ICICI Bank, HDFC Bank, HDFC, ITC, Infosys, L&T, Bajaj Finance, Kotak Bank, HCL Tech and Tech Mahindra were among the losers. On the other hand, Tata Motors rose the most by 2.94 per cent, followed by Titan which gained 1.26 per cent. Mahindra & Mahindra, SBI and TCS were also among gainers.
On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
Investors' wealth eroded by Rs 3.46 lakh crore on Wednesday as equity markets took a sharp tumble amid weak global trends and foreign fund outflows. The 30-share BSE Sensex fell by 676.53 points or 1.02 per cent to settle at 65,782.78. During the day, it plunged 1,027.63 points or 1.54 per cent to 65,431.68. In line with the weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 3,46,947.54 crore to Rs 3,03,33,258.69 crore.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
'The belief that FDI will shift from China appears to be a strategy of politicians to keep the media busy, chasing irrelevant news to ward off pressure and questions about the government's plans to deal with COVID,' observes Debashis Basu.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
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.
China's car output this year is expected to reach 5.6 million units overcoming that of Russia, to become the world's third largest automaker
Even as India's passenger-vehicle sales touched a record high of 3.9 million units in 2022-23, growing 27 per cent over the previous financial year, the country's largest carmaker, Maruti Suzuki India (MSIL), said on Monday uncertainties in the electronic-component supplies might affect production in FY24. MSIL said the shortage of electronic components had some impact on production in FY23. "The company took all possible measures to minimise the impact.
Investors went looking for bargain in banking, oil and gas and auto stocks.
With $1 trillion worth of opportunity knocking at its doors, the Indian auto industry with its low cost manpower and homegrown IT advantage is all set to grow its revenues to $5 bn by FY08
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
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