Total vehicle retail sales in India rose 27 per cent year-on-year to 22,06,070 units in April as all segments, including passenger vehicles and two-wheelers, witnessed growth, industry body FADA said on Wednesday. The overall vehicle registrations stood at 17,40,649 units in April 2023. Passenger vehicle retail sales rose 16 per cent to 335,123 units last month as compared to 289,056 units in the same month last year.
The company also plans to introduce a 100 cc bike by the end of 2010. HMSI has a current market share of 11 per cent and is expecting to raise the figure to 15 per cent by 2010. Asked if the company has plans to phase out its scooter Eterno, Rattan said, "Though the sale of Eterno has come down, we do not have any plan to stop the production, rather we will revamp its sale with new strategies".
"We sold 16.85 lakh units in FY 2011. In the current fiscal, we plan to increase it to 21 lakh units. We will continue to grow faster than industry. The turnover is also expected to jump to Rs 7,500 crore (Rs 75 billion) this year," company head sales N K Rattan said in New Delhi at the launch of the bike CBR 250R.
Prime Minister Narendra Modi on Friday claimed that the Congress and Samajwadi Party will run a bulldozer over the Ram temple if elected to power, and asked them to take 'tuition' from Uttar Pradesh Chief Minister Yogi Adityanath 'where to run bulldozers'.
The local police, a bomb disposal squad, a bomb detection team arrived at the LSR College along with a dog squad and conducted searches but nothing suspicious was found, the official said.
The wholly-owned subsidiary of the firm - India Yamaha Motor - also introduced a 153cc motorcycle -- SZ-R, carrying a price tag of Rs 55,500 (ex-showroom, Delhi).
The battle for the top spot in the two-wheeler market is intensifying. The gap between Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI) in retail sales narrowed to just 45,607 units in June. This improvement comes as HMSI has clawed back market share after dipping to a historic low of 18 per cent in May 2023. Now, the retail market shares of the two companies are 28.86 per cent and 25.54 per cent, respectively, compared to 35.54 per cent and 18.05 per cent in May 2023.
It was the first company to launch sub-10,000 PCs five years ago forcing major PC makers to offer ultra-low cost entry-level models. Then it launched India's first laptop to be priced under Rs 20,000. And now, it has launched a 100cc motorcycle for under Rs 20,000. Xenitis has launched the mobike for Rs 19,990, with equated monthly instalments (EMIs) fixed at Rs 490.
Rs 20,000 drop in price, addition of disc brakes and launch of two classy 150cc bikes are among a host of measures underway at Piaggio India to take on its rivals in the scooters market.
It will be fitted in a new car codenamed YL7, which will replace A-Star and Estilo.
The Supreme Court on Friday deferred the hearing for January 4 2024, of the habeas corpus petition filed on behalf of Nikhil Gupta, accused by the United States of conspiring to assassinate Gurpatwant Singh Pannun, a India designated terrorist, against his arrest and ongoing extradition proceedings in the Czech Republic.
Having effected financial restructuring, two-wheeler maker LML Ltd on Tuesday said it would launch new models in the coming months, including an entry-level 100-cc bike and four-stroke geared and gearless scooters.
At a time when the market is betting on a 'higher for longer' global interest rate view, Accenture's (ACN) weak revenue forecast is a negative read-through for the Indian IT firms, according to analysts. The Dublin-based company sees its revenue growth at 2-5 per cent in constant currency (cc) for the financial year 2024 (FY24), below the pre-Covid levels of 5-8 per cent for FY17-20. The weak projection, thus, signals that slower demand is likely to persist this year, and any recovery is unlikely in the near-to-medium term, experts note.
Bajaj Auto, which commands a market share of 26.70 per cent following Hero Honda (the country's largest two-wheeler maker), has decided to launch a bike in the executive segment (125cc) in the second quarter of the current financial year.
The ISRL Pune event was more than just a race; it was a glimpse into the future of Indian motorsports.
But Morgan turned the match on its head as he got a wicket from each off his six deliveries to bowl out Surfers Paradise for 174. Five batsmen were out for golden ducks.
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.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
IT major Accenture's second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
The two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
'Our expectations are that we will be able to double our market share from 14-15 per cent currently to around 30 per cent by the end of the financial year.'
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Two years after it hitched a ride with Hero MotoCorp (Hero), Harley-Davidson (Harley) and the Pawan Munjal-led firm are gearing up to ride into the middleweight (midweight) motorcycle segment (350-850cc) in the world's largest two-wheeler market.
Sehwag, who accumulated 8,586 runs from 104 Tests at an average of 49.34 and also took 40 wickets during his Test career which spanned from 2001-2013, revealed the role of Zaheer Khan in his promotion as an opener.
Nikhil Gupta, 52, has been charged with murder-for-hire, which carries a maximum sentence of 10 years in prison, and conspiracy to commit murder-for-hire, which carries a maximum sentence of 10 years in prison, US Attorney for the Southern District of New York Matthew G Olsen said.
'If his father and brother were alive today, they would be brimming with joy. This is the life's most memorable day and only few are lucky to see it. I'm the proudest mom on this earth.'
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Honda Motorcycle and Scooter India (HMSI), India's second-largest two-wheeler maker, on Wednesday revealed its electric vehicle (EV) roadmap, which includes setting up a dedicated EV factory, launching the first two EVs in 2023-24, and establishing 6,000 battery exchange points in the country. HMSI plans to establish a specialised unit for the manufacturing of electric vehicles (EVs), named 'Factory E', at its Narsapura plant located in Karnataka. Factory E will be created by converting an existing production line that currently manufactures internal combustion engine (ICE) vehicles, said Atsushi Ogata, HMSI managing director and chief executive officer.
Copparam Shreyas Hareesh, a 13-year-old prodigy from Bengaluru, succumbed to injuries that he had suffered following a crash in the third round of the MRF MMSC FMSCI Indian National Motorcycle Racing Championship.
The petition alleged that "illegal mining" was being carried out by Singh, the MP from Kaiserganj, in Majharath, Jaitpur and Nawabganj villages of Tarbganj tehsil in the district.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH insurance and AUTO insurance.
The two-wheeler segment is, however, still far from its H1FY19 peak of 9.7 million units
To come up with first EV by 2025, expects market to grow two to three-fold in the next ten years.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
Rohit Sharma celebrated his 36th birthday on Sunday, April 30, with his Mumbai Indians team-mates.
HMSI is now planning to introduce a 200cc bike that would battle with Hero Honda's Karizma and Karizma ZMR.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
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