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.
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
Speaking on the cancellation of the deal, Joe Bowman, chief executive officer of Ultra Motors, said, "The opportunity cost of selling electric vehicles in India does not fit strategically under this joint agreement. We intend to create shareholder value and positively impact those markets where we operate. We have come to believe India is one of the largest markets in the world. So we are looking forward to develop it independently."
Yuvi came out to bat when Robin Uthappa's wicket fell and he provided the late flourish allowing India to post 218 runs on the board. India went on to beat England by 18 runs.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
As we continue grappling with an irrepressible pandemic, music is both a refuge and source of comfort.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
The $306-million investment in Ola Electric Mobility by SoftBank Corp, Arun Sarin Family, Ratan Tata and Matrix has been the biggest funding in this space in value terms this year.
Since the Covid pandemic, bicycle sales have surged, orders are pouring in, and stores are already feeling a shortage. 'I have not seen this kind of excitement around bicycles and you are talking to a 57-year-old man,' said Pankaj M Munjal, chairman and managing director, Hero Motors Company (HMC), the largest Indian bicycle producer;
'There are 31 million houses without electricity.'
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
A collection of the best news features of the day
The Ayanagar weather station recorded 122.8 mm between 8.30 am on Wednesday and 8.30 am on Thursday, which was 11 times the normal rainfall.
'In AAP, those who are in charge of a particular state provide information to Arvind Kejriwal. 'In the BJP, several organisations convey what is happening on the ground to the top leadership.' 'There are so many channels through which issues are being understood.'
The president made a special mention of the threat to the environment and asked all citizens to take care of it for future generations.
If you opt for a petrol variant, you will need to reapply for loan.
Dr Bhabha and Dr Sarabhai didn't feel guilty for their ambitions; it was for those 'mad scientists' that India is a powerhouse -- both at the atomic level and in the vastness of space, observes Kumar Abishek.
Hero MotoCorp, Bajaj Auto, M&M and Tata Motors were the major winners.
'Zero Day' visitors like Maruti Suzuki, TVS, Tata Motors, Hero MotoCorp, Ashok Leyland and Bajaj Electricals are visiting fewer campuses.
Ola commits to invest $100 mn in Vogo, to bring scooter-sharing to its app, reports Alnoor Peermohamed.
However, notable absentees from the expo will be Honda, Toyota, Ford, BMW, Audi, Lexus, Volvo and Jaguar Land Rover along with two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Co.
On her 53rd birthday, Sukanya Verma lists 10 times the world fell in love with La Dixit.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Narendra Modi is single-handedly changing the formula to win elections. With money, human resources, mobile technology, the Internet, advance planning and tremendous confidence, he has spread his image more in UP villages than in urban areas.' Rediff.com's Sheela Bhatt reports from Lucknow on how Team Modi is changing the rules of the election game.
Actor-director Farhan Akhtar said the legendar Milkha Singh will forever be a symbol of self-belief and determination for generations to come.
Auto companies are now grappling with a slowdown in sales, triggered by pent up demand due to the COVID-led lockdown easing a bit and supply-side issues for raw material.
'The unveiling of the Cybertruck seems to me the turning point in the design and manufacture of automobiles in much the same way as American skyscrapers were the turning point of architectural design in the world,' says Aakar Patel.
India's glamour-packed cricket league is having difficulty sustaining momentum four years after it burst forth with a TV-friendly format, cheerleaders and big salaries.
Learn these lessons well, and you will never miss a flight again!
Ather Energy would set up 30 charging points across Bengaluru by the end of May and the number would go up to 60 by the end of the year.
Born to middle class parents in north Kashmir's Sogam village in Kupwara district, 120, km from Srinagar, Shah Faisal passed his Class 10 exam from a government school in his native village.
'Can Tendulkar recreate the magic of his youth?', asks advertising guru Sandeep Goyal.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'Anything that couldn't be stolen they destroyed.' Saloni Dhumne and Atreya Raghavan speak to members of the Indian community in Durban -- the largest congregation of Indians outside India -- who were targeted in last month's horrific riots.
Asharam Choudhary, son of a ragpicker battled the odds to study at the All India Institute of Medical Sciences, Delhi.
For a change, glamour goes rural as exhibitors glam up their products meant for India's villages.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
