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.
It is essential to have a comprehensive motor policy, and not just a third-party cover, as the latter does not protect your own vehicle.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
India will display its military prowess and cultural heritage at the 76th Republic Day celebrations on Kartavya Path in New Delhi. The parade will feature 16 tableaux from states and Union Territories, 15 from central ministries, and a tri-services tableau showcasing the spirit of "jointness" among the armed forces. The event will also include a flypast featuring 40 IAF aircraft and three Indian Coast Guard Dornier aircraft, as well as a display of cutting-edge defense platforms including BrahMos, Pinaka and Akash.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
Siemens's share price has lost ground in the past few sessions following weak management commentary. The management indicated challenges to the growth outlook due to stagnant private capex and concerns over semiconductor shortages for digital industries. Government infra-spending may regain momentum from January 2025.
It is not just the secondary market that is witnessing a revival in fortunes. Even the initial public offering (IPO) market have roared back to life, with investors submitting bids worth over Rs 2.2 trillion on the three IPOs that wrapped up on Friday. Fashion retailer Vishal Mega Mart (VMM)'s IPO (fifth largest of the year) garnered 27.3x subscription, with bids exceeding Rs 1.6 trillion.
The index could be vulnerable to a bigger fall given the present market dynamics.
Tata Elxsi (TelX) reported a weak Q3FY25, with a sharp deceleration in the transportation vertical. However, recent deals in the Asia-Pacific (APAC), higher mix of original equipment makers (OEMs) and partnership with Qualcomm will improve growth. FY25 is the third successive financial year of revenue growth deceleration and second successive financial year of profit deceleration.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
Soros, 94, in the recent past has spoken openly against Prime Minister Narendra Modi. The ruling BJP believe that he tried to interfere in Indian elections.
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.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
'Private General insurers are poised to grow at 17 per cent - 18 per cent over the next 5 to 7 years and we will grow faster.'
The Kerala High Court has criticized both the ruling front and the opposition in the state for holding public meetings that block public roads and footpaths. The court observed that the December 5 incident, where the CPI(M) held a conference outside the Vanchiyoor court complex in Thiruvananthapuram, was a "clear case of breach of trust" as the government holds the roads as a trustee of the people. The court has directed the police to submit a report by December 16 identifying those involved in the meeting, including those who attended and were seen on-stage in news reports. The court also pointed out that the stage for the meeting was constructed right on top of the pedestrian/zebra crossing, completely blocking the carriageway on one side of the road. This caused traffic snarls and inconvenienced pedestrians, including school children, infants, and elderly persons. The court said that provisions of the Bharatiya Nyaya Sanhita (BNS) and other laws, like the Motor Vehicles Act, would be applicable to the incident.
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
A packed beyond capacity bus carrying passengers returning to work after Diwali fell into a deep gorge in Uttarakhand's Almora district on Monday, killing at least 36 of the over 60 people on board.
The Mumbai Regional Transport Office (RTO) officials have said they suspect 'human error' and 'lack of proper training' led to the horrific accident in Kurla where a Brihanmumbai Electric Supply and Transport (BEST) bus fatally knocked down seven persons and injured 42 others.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
Neeraj Prakash, MD, Shriram General Insurance, explains how new measures proposed in the Motor Vehicles Act can smoothen the lives of the insured and insurer and how the government plans to make more vehicles owners buy insurance.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
Passenger vehicle wholesales in India witnessed a marginal growth in May on account of high base effect and muted demand due to general elections. The overall passenger vehicle dispatches from companies to dealers stood at 350,257 lakh units last month as compared to 335,436 in the same month a year ago, registering a growth of 4 per cent.
The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said.
Thousands of workers of every description -- from journalists to steel workers, from painters to New York cops, from auto to engineering workers -- marched for two hours down 5th Avenue one of Manhattan's most iconic thoroughfares, reports Jyoti Punwani.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
Health insurance policy-holders will be able to avail a discount on the premium payable if there were no claims made in the previous year, according to the circular released by the regulator.
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.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
The Indira Gandhi Cultural Centre located in Dhaka's Dhanmondi area was damaged by the unruly mob, according to eyewitnesses.
The National Commission ruled that the insurance policy is deemed to be automatically transferred to the purchaser when the vehicle is registered in their name.
Advait Rao Palepu reports how a recent Supreme Court order will impact motor vehicles insurance policies.
A look into how General Motors has tried to build the Chevrolet brand in India.
Police have registered a case on charges of culpable homicide not amounting to murder against the driver of a BEST bus involved in an accident in Mumbai which claimed six lives and left 43 others injured, officials said on Tuesday.
Tata Motors is stripped off India's most valuable company tag.
General Motors India, which was converted into a 50:50 joint venture between General Motors and SAIC last year, will be making a significant investment in terms of 'millions of dollars' at its Halol plant in Gujarat.
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
ABB reported a weak quarter. Revenue was at Rs 2,910 crore, up only 5 per cent year-on-year (Y-o-Y), with operating profit at Rs 540 crore, up 23 per cent and net profit at Rs 440 crore.
The vehicle would be the electric version of General Motors' small car 'Spark'. Reva would provide battery technology for the E-Spark.
