Several manufacturers such as Mahindra
Japanese car maker Mitsubishi Motors Corporation has decided to manufacture its sports utility vehicle Outlander in India, through its Indian joint venture with Hindustan Motors, a C K Birla Group company. The Indian JV currently manufactures the Lancer range of sedans, sells Montero, a premium segment sedan, and imports completely built SUV Pajero. The company had earlier considered the option of importing Outlander as a fully-built unit for the Indian market.
Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards. Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
Among the Sensex firms, Bajaj Finance, Bharti Airtel, Maruti, Bajaj Finserv, HCL Technologies, Titan, Hindustan Unilever, JSW Steel, UltraTech Cement, State Bank of India and Reliance Industries were the major laggards.
Among the Sensex firms, Bajaj Finance jumped 4.44 per cent and NTPC rose over 3 per cent. IndusInd Bank, Axis Bank, Tata Motors, Nestle, Power Grid, Infosys, Bajaj Finserv and HDFC Bank were the other major winners. HCL Tech, Mahindra & Mahindra, Maruti and Hindustan Unilever were among the laggards.
The car is unforgettable for its low-maintenance, reliability, and space.
Mitsubishi Motor Corporation's plan to produce a volume-generating compact car from India has been indefinitely deferred for lack of funds and sliding demand.
The company has taken up an ambitious project to introduce a smaller version of the classic car.
The Encore's 1.5-litre diesel engine promises better power and torque.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
The company blames fund crunch, falling demand, accumulating liabilities.
Amidst threat of intense competition in the car industry, C K Birla Group company Hindustan Motors Limited is planning to launch new models of its hi-end Lancer cars.
Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.
Benchmark equity indices Sensex and Nifty snapped two days of losses to close higher on Tuesday on the back of fag-end buying in auto, power and metal shares helped by fresh foreign fund inflows. The 30-share BSE Sensex rose by 204.16 points or 0.31 per cent to settle at 66,174.20 in a volatile trade. During the day, it hit a high of 66,256.20 and a low of 65,906.65.
Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards. Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure. In contrast, NTPC, TCS, Tech Mahindra, Bajaj Finance bucked the trend and ended the day in green. Axis Bank, Bharti Airtel, Mahindra & Mahindra and Tata Motors also defied the trend.
Equity benchmark index Sensex on Wednesday crashed over 900 points to sink below the 73,000 level due to widespread selling pressure amid a sharp fall in smallcap and midcap indices. Besides, deep losses in utility, energy and metal stocks and recent selling by foreign investors added to the gloom, analysts said. Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
Maruti Udyog, India's biggest carmaker, has been ranked first in customer satisfaction by international market research firm JD Power.
Hindustan Motors is planning to launch two variants of the popular car - a sub-4 metre sedan and a new generation Amby.
The JV between the French auto major and India's CK Birla group is aiming at production capacity of about 100,000 vehicles a year by 2020.
The Ambassador was a durable enough brand to outlive the licence raj.
Hindustan Motors Ltd is planning to launch a new-age hatch-back version of the iconic Ambassador car.
Car sales in the domestic market overcame sluggish demand in the inauspicious shradh period and grew a healthy 22.4 per cent in September this year at 94,734 units against 77,384 units in the same month last year.
Benchmark equity indices ended marginally higher on Thursday, trimming most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day. Announcement of the US inflation data and domestic macroeconomic numbers also forced investors to remain on the sidelines. The 30-share BSE Sensex climbed 63.47 points or 0.09 per cent to settle at 71,721.18.
The GP-C K Birla group-promoted Hindustan Motors is planning to launch new products from the Mitsubishi stable in the next six months.
Hindustan Motors Limited of C K Birla group will launch multi-utility vehicle manufactured at its Uttarpara plant in the state.
Malaysia's leading carmaker 'Proton' has shelved plans to source cars from India.
Hindustan Motors on Saturday launched an all-new 1.8-litre CNG Ambassador Grand.
Indian passenger car sales jumped by 10.15 per cent in January to 54,825 units from 49,769 units in the same month last year.
Hindustan Motors' iconic car is set to get a radical makeover, but is it too late in the day?
Hindustan Motors on Friday said it would enter the luxury 'D' segment in collaboration with Mitsubishi Motors in the calendar year 2005.
Premium carmaker Mitsubishi on Wednesday said it will increase the price of its newly launched sports utility vehicle Outlander by about two per cent from next month, thus withdrawing the introductory offer on the vehicle.
The domestic car sales rose by a modest 6.7 per cent in August 2003 as market leader Maruti, Fiat and Hindustan Motors suffered a decline even as Hyundai and Tata Motors improved their performance.
Now, a growing number of well-heeled private citizens are buying armoured vehicles for their safety, providing a profitable new business stream for companies like Jalandhar-based Laggar Industries and automaker Hindustan Motors. The annual market is about 500 vehicles, of which 30 to 40 are bought by private citizens.
Industrialist Ganga Prasad Birla died last night at 87 after a prolonged illness. His Rs 5,000-crore business included companies like Hindustan Motors, Orient Paper and Industries, Hyderabad Industries, Avtec and Nigeria Engineering Works.
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