The Scorpio-based pick-ups, engineered by M&M specifically for the US market, were set to reach North American shores three years ago, but launch dates were postponed more than thrice thereafter before the company's marketing and distribution partner Global Vehicles Inc filed a lawsuit against it for the delay.
A tribunal in London last month confirmed that it had an exclusive jurisdiction to resolve all disputes related to the relationship between M&M and Global Vehicles. It directed the US distributor to end all current litigation, said M&M.
The denial rate jumped from 4% to 41% for Tech Mahindra, from 6% to 34% for TCS, from 7% to 53% for Wipro and from just 2% to 45% for Infosys.
Major carmakers in the country are loading barrels for the coming battle in the field, reports Arnab Dutta.
For Hero MotoCorp, India's largest two-wheeler company, it's a calculated gambit to revive Harley-Davidson whose ride in India has been anything but easy since it got here.When automotive firms embark on alliances, it's a roll of the dice on how such marriages will play out.
The news comes just three days after M&M received certification from the US Environmental Protection Agency allowing it to sell pick-up trucks in that country.
People close to Indian carmakers Tata Motors and Mahindra & Mahindra, and the buy-out group One Equity Partners, said on Tuesday that they expected Ford to respond imminently to their revised offers made last week.
Traders' body CAIT on Wednesday wrote to Reliance Industries chief Mukesh Ambani and 50 other captains of India Inc, including Ratan Tata, Azim Premji, Gautam Adani, Ajay Piramal, Anand Mahindra and Sunil Bharti Mittal seeking their support in its campaign to boycott Chinese goods. The Confederation of All India Traders (CAIT) also urged Kumar Mangalam Birla, Vikram Kirloskar, Rahul Bajaj, Shiv Nadar, Pallonji Mistry, Uday Kotak, Nusli Wadia, Shashi Ruia, Madhukar Parekh, Harsh Mariwala, Satish Reddy and Pankaj Patel, among other prominent industrialists, to join its 'Bhartiya Samaan-Humaara Abhimaan' campaign.
First sequential decline in a decade as 8 of top 15 software firms report drop in manpower
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
For deciding which vehicles are to be scrapped, the setting up of fitness centres and regulating them would be a humongous task.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
A large number of American companies like Google, Uber and IBM are offering their resources to help India successfully fight the battle against the deadly coronavirus pandemic.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
'Most Indian logistics firms do not have the facility to store and transport COVID-19 vaccine right now.'
Nigerian striker Muritala Ali scored a hat-trick to help Mahindra United complete the first phase of their I-League campaign with an emphatic 4-0 rout of Air India in the all-Mumbai Derby encounter at the Cooperage football ground on Thursday
Renault and M&M had planned to bring the seven-seater MPV through their JV under which the French company's mid-sized sedan 'Logan' is manufactured and sold in India. The MPV was displayed at the Auto Expo held earlier this year.
Admiral Puri says it would be wasteful to buy a foreign helicopter, pay for transfer of technology, and develop manufacturing capability in an Indian private sector strategic partner when all this already exists with HAL.
A study by second-hand car dealer CARS 24 showed 42 per cent of the consumer feel the need for a car to travel safely now. Those who used cabs to commute before the pandemic want to buy a car for the family and a two-wheeler for shorter runs.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
The report quoted unnamed sources at Land Rover as saying, "It is definitely Tata. There is one final meeting and so long as there is no last minute hitches, which are not expected, then an announcement will be made on Friday." The final details would be worked out in the next six weeks, it added. The report also quoted a union official as saying that Mahindra's bid fell flat because of links to a private equity firm as the Indian firm was working with Apollo.
The UK-based BAE Systems has zeroed in on M&M and is believed to have signed a Memorandum of Understanding (MoU) after holding talks with at least two other leading corporates -- Tatas and Larsen and Toubro (L&T) for its Indian Land Systems project, sources close to the development said.
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?
It is learnt that the state government is likely to sign a memorandum of understanding with the partnering companies this Monday.
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
Stricter regulations in US forces industry to look at these countries with a market size of $300 billion
There is also lack of mandate from the government on adoption of electric mobility after ambitious talks of moving all new automobile sales to electric by 2030
He will be in Mumbai for a day to deliver a keynote address at Future Unleashed.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
The offers mostly include free insurance, exchange bonus, and free accessories
The 'Diwali Home Buying Fest' would be organised from Nov 3-9.
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