The initial public offering (IPO) of auto components maker Hero Motors Ltd was fully subscribed on its first day of bidding, receiving bids for 1.38 times the shares on offer, with strong interest from retail investors.
The Ministry of Heavy Industries (MHI) anticipates disbursing approximately 4,700 crore in incentives under the automotive PLI scheme in FY27, more than double the previous two years, while also exploring financing mechanisms for electric buses and trucks and promoting domestic manufacturing of critical EV components.
Much of Mary Barra's first year as CEO was spent dealing with crisis.
The Gujarat ATS and Indian Coast Guard seized 115 kg of cocaine worth nearly Rs 1,150 crore from a vessel off Mundra port, arresting three foreign nationals and disrupting an international drug trafficking network.
The Gujarat ATS and the Indian Coast Guard seized 115 kg of cocaine valued at nearly Rs 1,150 crore from a vessel off Mundra port and apprehended three foreign nationals.
India's first trillion-dollar company will be built on technology it owns, not just operates, predicts Ajay Kumar.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
Barra says GM is working on putting out the right products here because it will be difficult to make a mark globally without India.
Soon after Carl-Peter Foster, former head of General Motors Europe, joined the 65-year-old Tata Motors, he asked for 100 days to come to grips with his job.
There is no impediment to normal operations as Tata Motors puts in place the demerger process of its commercial and passenger vehicles businesses. Instead, the demerger would provide greater manoeuvrability for both new entities to operate independently, according to Tata Motors management. While there may not be immediate value unlocking, it will give investors clarity about future growth and the financials across different segments.
TVS Motor Company has been one of the best-performing two-wheeler stocks in the current financial year (FY24), enriching investors with gains of 24 per cent. Among listed two-wheeler stocks, only Hero MotoCorp has done better in this period. New launches, market share gains, steady margins and expectations that its performance will continue in FY24 are expected to support TVS Motor's stock.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
General Motors Asia-Pacific on Friday announced the appointment of chief operating officer, Rajeev Chaba, as president and managing director of General Motors India with effect from June 1.
Inspiring story of America's iconic CEO.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
In 2006, components worth $2 billion, around Rs 90,000 crore were exported by Indian companies, 75 percent of which were bought directly by car companies.
General Motors (GM) India Limited plans to export Beat, its compact car to Europe and countries in the Asia Pacific region, from January 2011.
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.
The head of GM's European operations Nick Reilly assured on Thursday state premier of Thuringia in eastern Germany Christine Lieberknecht that Opel's Eisenach plant in the state will remain open.
GM has also exited from four other international markets, including Russia and Europe.
US-based General Motors plans to launch 40 new products in international markets including India, where it is focusing on a turnaround.
The move comes close on the heels of growth in developed auto markets such as the US and Europe dipping in the red. Analysts say that global auto companies are now focusing on developing new models for emerging markets like India, their with main focus on containing costs. The cost of development in India is considered to be the lowest in the world.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
UltraTech Cement was the biggest gainer in the Sensex chart, climbing 3.13 per cent, followed by Kotak Mahindra Bank, Tata Motors, Axis Bank, Maruti, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra. In contrast, Infosys, Tech Mahindra, Tata Consultancy Services, Wipro, Bharti Airtel, HCL Technologies, ICICI Bank and Nestle were among the laggards.
Maruti will launch its first electric vehicle (EV) in the next financial year (FY24), and will roll out six EVs in the country by FY30, the automaker's parent firm Suzuki said on Thursday.
But there are fears that any reform could be reduced to tweaking because the tax is so lucrative.
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.
Upon completion, the factory will create almost 10,000 jobs and will initially have an annual capacity of 2 million units.
Ajit Balakrishnan on how to arrest a worldwide decline.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
Given the better growth in JLR sales and improving domestic sales, nearly 90 per cent of the analysts covering the stock have a 'Buy' rating.
'Investors should continue to invest because you are looking at the long-term; in the next four to five years, we are bound to outperform (the rest of the world equity markets).'
Making a debut in India with an SUV, Citroen's products in the next couple of years will clearly chart and define its destiny in what has become both a vibrant but also a daunting market for foreign entrants, says Pavan Lall.
Asia-focused bank Standard Chartered has extended its sponsorship of Liverpool Football Club for two years, continuing one of the most lucrative deals in English sport.
As India is progressing towards Bharat Stage IV (BSIV) emission norms, most cars still run under BSIII standard.
