Aided by robust demand, automobile retail sales in India rose by 11 per cent last year as compared to 2022, dealers' body FADA said on Monday. The overall domestic automobile retail sales stood at 2,38,67,990 units in the 2023 calendar year as compared to 2,14,92,324 units in 2022. Passenger vehicle sales stood at 38,60,268 units last year, up 11 per cent from 34,89,953 units in 2022.
'The Nifty index looks to be 20 per cent overvalued as per our model after moving up more than 10 per cent in the last two months.'
Domestic automobile retail sales rose 10 per cent in June driven by sales growth across various segments, including passenger vehicles and two-wheelers, automobile dealers body FADA said on Thursday. Total retail sales last month rose to 18,63,868 units from 17,01,105 units in the year-ago period. Passenger vehicle retail sales increased 5 per cent to 2,95,299 units as against 2,81,811 units in June 2022.
Following the sharp run in markets, valuations across the board have become elevated. The National Stock Exchange Nifty50 Index now trades at a 12-month trailing price-to-earnings (P/E) multiple of 24.3 times, 18 per cent higher than this year's low of 20.5 times. The valuation expansion in the broader markets has been sharper.
There's a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido's cab foray will be enabled by a software as a service (SaaS)-based platform.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
The study conducted a systematic survey of landslides and derived a statistical model, aimed at quantifying landslide susceptibility along the NH-7 at a high spatial resolution, the findings said.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
India's electric two-wheeler (E2W) sector is expected to cross the one million mark in 2024 fuelled by rising demand, increased production, and affordability, industry experts said, even as several original equipment makers are expanding their penetration to rural areas. Improved battery technology and innovative features are also likely to fuel growth, they said. "E2W sales will breach the 1-million mark in 2024 as the demand for electric two-wheelers is expected to continue growing due to factors such as environmental awareness, government incentives, and improvements in technology," Hyder Khan, chief executive officer (CEO), Godawari Electric Motors, said.
Regardless of market levels, invest in stocks and equity mutual funds in a staggered manner.
It is evident that the younger generation is increasingly choosing to postpone or completely forego the idea of getting married, observes Sybil Shiddell, country manager India, Gleeden, a discreet extra marital dating Web site.
While Delta wiped out the variants that preceded it, Omicron has not eliminated the deadly variant which could re-emerge.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Too bad the one time it is friendly to the environment, Tiger chooses to celebrate his Diwali with 'meetha' and not 'pathaaka', points out Sukanya Verma.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
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.
White is easy to maintain, looks brighter than other colours over a longer period, is the least commonly rejected colour among family members, has high resale value, provides better safety at night, absorbs less heat in the summer season, makes small cars look bigger, and is not considered inauspicious.
In 2013, weeks after getting bail in a case of alleged cheating in Kerala, Amway India's then managing director, William Scott Pinckney, declared that the company was aiming to hit revenues of Rs 10,000 crore in India in a decade. Fast forward to 2021, and Milind Pant, Amway's global CEO, announced that the company has designated India as one among the top three markets for growth and investment (after US and China), and is now looking at hitting revenues of Rs 20,000 crore over the long term.
The second quarter of FY22 continued to show double digit growth for the top four IT services providers, with every vertical and geography growing well, even though the total contract value (TCV) looked soft for all the players. The trend was first evident in Accenture's Q4 numbers, which saw its TCV in outsourcing deals softer. A soft TCV does not mean that growth is declining, but it does point to the trend of few and scarcer mega deals.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
The assurance comes as India's Covid graph dips -- on Friday 1,109 new coronavirus infections were reported -- and also one case of a new Covid strain in Mumbai.
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
In 2022, the hybrid work culture will become more relevant to attract and retain talent, while also ensuring they foster a sense of wellness and belonging in the workspace.
'Large-caps are better placed to withstand the impact of higher input cost inflation, rising rates and withdrawal of excess global liquidity.'
'All El Ninos are not associated with the deficient monsoon.'
A candidate with good communication skills, critical thinking and problem solving abilities will have a higher chance of being hired.
'Since 2017, the chief minister and the RSS seem to have come closer.' 'This relationship's warmth is more from the RSS's side.'
The Congress won 77 seats or 42% of seats in the 2017 polls. How then can Gujarat be called a BJP bastion, asks Sanjeev Nayyar.
The concept of 'fairness by rulers' is deeply ingrained in Indians and any weakening of this dents the legitimacy of the ruler, warns military historian Colonel Anil A Athale (retd).
'Urbanisation results in heavy rainfall events.'
India wasn't applying widespread crash testing like foreign countries do, so manufacturers didn't see the need for an investment focus on safety. Customers rarely walked into showrooms asking for the safest car. They wanted the cheapest or the most fuel-efficient or the best-looking car.
German luxury car maker Mercedes Benz on Friday said it will hike prices of its products across models by up to 10 per cent in India from next month.
By the end of 2017, the Chinese firm had emerged as the fastest growing brand after posting 343 per cent growth with 19 per cent market share for the full year.
The government's decision to stop surge pricing by app-based taxi companies Uber and Ola ignores the basic principles of economics to appease a vocal section of the vote bank.
BMW's plant in Chenna now has 50 per cent localisation.
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