Having rung in the New Year with two major acquisitions in the metals space, India Inc is set to execute more such deals, albeit in automotive, pharma and IT sectors, with companies in Europe being the targets.
The new car market is estimated at around 30,000 units a year in sales in a good year, whereas the used car market for luxury vehicles is estimated at around 60,000 cars annually.
We must work in the direction of an innovation and technology driven economy which could boost up creation of jobs and open advanced and newer avenues of employment within the country.
Consumer stocks remain the biggest laggard on the bourses. The Nify50 weighting of FMCG stocks declined to a decade low of 9.9 per cent at the end of March this year, down 150 basis points from 11.4 per cent a year ago. At their peak in March 2013, major FMCG stocks, such as Hindustan Unilever, ITC, and Asian Paints, together accounted for 15 per cent of the Nifty50. But now together with automobile stocks, the consumer goods sector accounts for only 14.7 per cent of the index, down 200 basis points in the past 12 months and 37 per cent from the record high weighting of 23.4 per cent at the end of March 2014.
Lauding the automotive industry in the country for its "success beyond expectations" Prime Minister Manmohan Singh on Saturday said the government would take necessary steps to realise the goal of making India a global workshop.
Ola Electric on Wednesday said it has commenced deliveries of its S1 scooters. The company said it organised special events in Bangalore and Chennai on Wednesday to deliver both S1 and S1 Pro trims to the first 100 customers. "Today is a landmark day for those who have joined the revolution with us as we begin our deliveries of Ola S1. "We are working hard to ramp up the production at the Ola Future factory to get the scooters in the hands of our customers as per their delivery windows," Ola Electric chief marketing officer Varun Dubey said in a statement.
The global recall of millions of vehicles has put the focus on quality.
A dozen big brands that have ignored Indian roads so far. Just when you thought we had them all...
The top driver for the Indian workforce while choosing an employer are salary and employee benefits, followed by work-life balance and job security.
In India, over 13.25 lakh cars have been recalled by various auto companies so far.
Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday. Speaking at an online event of auto industry body SIAM on sustainable mobility, the minister said the government is working in multiple ways to encourage sustainable mobility. "India recently achieved 10 per cent ethanol blending target 5 months in advance, saving over Rs 41,000 crore worth of fuel imports for the nation," Choubey noted.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
Automaker Kia India is looking to strengthen its product portfolio as it gears up to introduce a multi-purpose vehicle (MPV) in the country in the first quarter of next year, as per a top company official. The company, which currently sells three products in India -- Seltos, Sonet and Carnival -- is all set to globally unveil its fourth model, a multi-purpose vehicle (codenamed KY), on December 16. While the global showcase would happen next month, the actual market launch of the model would take place later in the January-March quarter.
Aided by robust festive season offtake, automobile retail sales in India witnessed a 48 per cent annual jump in October, automotive dealers' body Federation of Automobile Dealers Associations said on Monday. The total retail sales last month stood at 20,94,378 units, up 48 per cent from 14,18,726 registrations in October 2021. The registrations last month were even better by 8 per cent as against October 2019, a pre-COVID month. The festive season this year turned out to be the best for the industry in the last four years.
The testing track for high speed vehicles (having speeds between 250 kmph and 350 kmph) at the Indore centre would be operational by 2012.
It has mostly been a one-way street for markets that have moved up sharply since July. The front-line indices - the S&P BSE Sensex and the Nifty50 - have gained 6.7 per cent and 7.3 per cent, respectively, in the past three months. The rally in mid- and small-caps has been sharper, with both indices surging 14 per cent and 9 per cent, respectively, during this period. This sharp run has made analysts at Jefferies cautious.
Kia has entered the Indian market at a time when the domestic automotive industry is facing the worst slowdown in more than two decades.
FDI inflows into India were $34 billion in 2014, up 22%.
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
'We have relatively strong growth and a healthy corporate earnings cycle as positives, but a worrisome current account deficit and high inflation as challenges.'
Japanese car major Nissan on Tuesday said will hike the prices of its vehicles, including hatchback Micra and sports utility vehicle Terrano in India, by up to 4 per cent from next month in order to offset the impact of rupee depreciation and escalating input costs.
Toyota Enterprises, the non-automotive arm of Toyota Group, has entered into a joint venture with the Bangalore-based Hyagreev Hotels, which runs The Chancery Hotel in Bangalore. Toyota Enterprises operates a chain of hotels in Japan, and this is its first project away from home.
Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India's top exports to China remain in the raw materials category.
'India seems to be on a relatively better wicket compared to other emerging markets.'
After losing two festive seasons to Covid-led restrictions, 2022 is seeing an uninhibited celebration of festivals. This is pushing up discretionary spend, which is attracting advertisers and brands, who are ready to capitalise on the momentum. The festive season has begun with Onam and Ganesh Chathurthi held earlier this month in Kerala and Maharashtra, respectively.
Czech automaker Skoda on Monday forayed into the midsize SUV segment in India with the launch of its new offering Kushaq, priced between Rs 10.5 lakh and Rs 17.6 lakh (ex showroom Delhi).
The latest trade mission is a part of Victorian government initiative, Trade Engagement Program -- India, specially designed to strengthen trade relations with the subcontinent, according an official statement.
The total vehicle registrations in India fell by 29.85 per cent to 1,52,71,519 units in financial year 2020-21, the lowest in the last eight years, the Federation of Automobile Dealers Associations (FADA) said on Monday. Total vehicle registrations were at 2,17,68,502 units in fiscal year 2019-20. All categories of vehicles, except tractors were in red in FY21 with two-wheeler (2W), three-wheeler (3W), commercial vehicles (CV) and passenger vehicles (PV) falling by 31.51 per cent, 64.12 per cent, 49.05 per cent and 13.96 per cent respectively -- the lowest in last eight years and way below the FY13 levels, FADA said in a statement.
The imposition of 15 per cent export duty on steel has suddenly altered the prospects of the sector to negative and led to a big sell-off in steel stocks. Iron ore and pellet exports have to face duties of 45-50 per cent, which means they become uncompetitive. The Ukraine war has led to a supply crunch in global markets and pushed up prices, with Europe, in particular, looking for replacements for Ukrainian and Russian exports.
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
The government is currently also revising its MSIPS policy to extend its mandate apart from making it more investor friendly.
You'd love to take these pocket-friendly automatics for a spin
The companies' combined net profit declined by 10.1 per cent y-o-y during June '19 quarter against 26.2 per cent y-o-y growth a year ago.
By the year 2026, India will be the third in the world after China and USA in engineering, manufacturing and export of vehicles and auto components.
'Investors need to expect steady returns over the next one to two years with bouts of high volatility.'
The Bolero has sold over 1 lakh vehicles during FY2015.
Jio's Estonia arm and Finland-based University of Oulu have signed an agreement to collaborate for development of 6G technology as well as to foster entrepreneurship. The collaboration with the university is expected to extend Jio's 5G capabilities and will help explore use cases in the 6G era. Jio Platforms is the parent of telecom player Reliance Jio.
The price increase is marginal and the company is confident that the customers will appreciate its efforts to offer globally renowned products at affordable prices.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
