The story of the Eicher group, promoted by the Delhi-based Lal family, may some day make a case study, not least for its agility in coping with the changing reality of doing business in India.
Eicher Motors Ltd on Thursday forayed into engineering services outsourcing with the acquisition of US-based company Design Intent Engineering and said it expected the new business to contribute $100 million in the next four years.
Given the stronger rural activity, and potential goods and services tax (GST) impact, investors are bullish on the two-wheeler (2W) segment. In August, dealers in the domestic market picked up 11 per cent more 2Ws year-on-year (Y-o-Y), despite only 2 per cent growth in retail registrations. This indicates inventory stocking ahead of the festival season. Export trends were good. TVS Motor and Royal Enfield may have gained domestic market share.
The proposed reforms in goods and services tax (GST) announced by the government last week, coupled with the eighth pay commission dole-out, is likely to push consumption-driven stocks - such as air conditioners (ACs), select automobiles, fast-moving consumer goods (FMCG), retail, and counters of quick-service restaurants (QSRs) - into higher orbit over the next few months, believe analysts.
The stock of two wheeler maker Eicher Motors was the highest gainer among BSE 100 stocks, rising 6.6 per cent in trade on Friday. The gains came on the back of better than expected performance in the March quarter of the 2022-23 financial year (Q4FY23) and earnings upgrades by brokerages. Standalone revenues (Royal Enfield) were up 19.9 per cent year-on-year (YoY), led by an 18 per cent growth in volumes and a marginal uptick in realisations.
Eicher had announced in July this year that it was interested in an alliance or a strategic partnership to become a full-range commercial vehicle player. It currently makes light and medium trucks. MIL makes only heavy trucks.
Investors would track a host of macroeconomic data announcements scheduled this week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors, analysts said. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets.
Two men were hospitalised after they set themselves afire on Friday amid a bandh call in Madhya Pradesh's Pithampur against the planned disposal of 337 tonnes of Union Carbide waste in the industrial town, an official said.
At Rs 18,400 per share, value up 100 times since Lehman crisis
Hyundai Motor India Ltd has become the country's fifth most valuable auto firm by market valuation in its debut trade on Tuesday. Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, listed at Rs 1,931, reflecting a decline of 1.47 per cent against the issue price of Rs 1,960 on the BSE earlier in the day. The stock slumped 7.80 per cent to Rs 1,807.05 during the day and finally ended at Rs 1,820.40 apiece, down 7.12 per cent.
Eicher Ltd has decided to file an Expression of Interest in response to the Preliminary Information Memorandum issued by KPMG for divestment of PSIDC stake in Punjab Tractors.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
'...you evaluate three key factors before committing your money.'
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
The calculation excludes cross-holding of listed group cos in each other.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
As many as 14 Indian families have made it to the inaugural list of Forbes' 50 richest families in Asia.
The Mumbai-based firm has lost almost 10 percentage points in market share since 2009-10, even as other brands have fought hard to wrest share away.
The Volvo Group, one of the world's leading heavy-duty commercial vehicle (CV) and diesel engine makers, is engineering a fresh push in India, one of the world's biggest growth markets for commercial vehicles.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
Combined sales at top four manufacturers - Tata Motors, Ashok Leyland, Volvo Eicher Commercial Vehicles, and Mahindra and Mahindra - dropped 20 per cent to 20,324 units in November
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
Can the Bajaj-Triumph tie up overtake the beloved Royal Enfield?
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
At the core of the new joint venture is an attack on Tata Motors, which dominates the commercial vehicle sector in the world's fourth-largest market for heavy trucks.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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