An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
Firm sticks to guns while the staff looks at 'sterner' measures.
Italian Valentino Rossi emerged triumphant in the Argentine MotoGP Grand Prix despite a clash with World champion Marc Marquez in the second-last lap which saw the Spaniard crash out.
Pakistan's Supreme Court Chief Justice Iftikhar Chaudhry on Monday took suo moto notice of the devastating bomb attack in a Shia-dominated area of Karachi that killed 48 people and sought reports on the incident from police and government officials.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
'The fundamentals look strong, but we will have to see if they translate into actual demand.' 'Because the April-May marriage season didn't see much sales due to the lockdown.'
The broader NSE Nifty gained 17.35 points or 0.16 per cent to end at 10,997.35.
The broader NSE Nifty rose 32.15 points or 0.29 per cent to settle at 11,284.30.
NSE Nifty finished higher by 46.05 points, or 0.39 per cent, at 11,707.90. Asian Paints was the top gainer in the Sensex pack, rallying 6.32 per cent, followed by Nestle India, HUL, Bajaj Auto, IndusInd Bank, Tata Steel, Maruti and PowerGrid.
A summary of sports events and persons who made news on Monday
The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
Italy's Mugello circuit will make its debut on the Formula One calendar in September to host Ferrari's 1,000th grand prix, the sport announced on Friday, with Russia's race in Sochi also confirmed. The September 13 race, to be called the Grand Prix of Tuscany Ferrari 1,000, will follow on from the September 6 Italian Grand Prix at Monza as the ninth round of a season that has been heavily revised due to the COVID-19 pandemic.
The Italian bike chassis maker, Pierobon has unveiled updated version of their X60R superbike which they had first showcased a year back.
The International Hockey Federation (FIH) signed a major sponsorship deal with two-wheeler giant Hero MotoCorp for all events of the world body to be held in India in the next four years.
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.
According to traders, Chief Economic Adviser Subramanian's comments practically ruling out a stimulus package for the economy weighed on investor sentiment.
Top gainers in the Sensex pack included Sun Pharma, TechM, Axis Bank, L&T, Reliance Industries and ICICI Bank, which rose up to 2.66 per cent.
The nearly 1,200 permanent workers, under the aegis of Hero MotoCorp Workers Union, are observing silent protest by wearing black badges and not taking tea and snacks provided by the company to press for their demand.
'Zero Day' visitors like Maruti Suzuki, TVS, Tata Motors, Hero MotoCorp, Ashok Leyland and Bajaj Electricals are visiting fewer campuses.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
India's richest businessman, Mukesh Ambani is ranked at 33 with a salary of Rs 15 crore (Rs 150 million) annually.
After splitting with Honda, the company is working on developing it own intellectual property.
Bajaj Auto on Wednesday claimed its entry-level bike Discover has displaced Splendor of rival Hero MotoCorp as the largest selling motorcycle in the world based on sales in September.
Dealers attribute the sluggishness in sales to distress in rural India as well as tepid sentiment in urban markets.
Italian great Valentino Rossi has not ruled out a return to MotoGP in Spain this weekend, three weeks after breaking his right leg, after getting back on a bike for some test laps on Monday.
Tata Steel and Axis Bank were among the top gainers in the Sensex pack, surging up to 6.67 per cent following their March quarter results.
Two-wheeler firms' profits to slow down following a double-digit decline in sales.
Uber CEO Dara Khosrowshahi says the younger generation doesn't dream of owning a car, but instead wants the freedom of having any service on demand.
The BJP demanded an apology from Gehlot.
A case has been registered for offences under the Indian Penal Code including creating enmity between different groups of people against the woman, identified as Arudra, they said.
Sluggish corporate earnings, lacklustre global markets, FPI and slowdown concerns have played spoilsport for the markets.
Pawan Munjal, MD & CEO, tells Business Standard that Hero Motor is firming up distributors abroad and considering assembly bases in some countries to sell a million units outside India by 2017.
Two wheels and an open road. Biking during Coronavirus Days.
On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
During the day, doctors completed the first round of dialysis to improve his kidney function and normalise his urine output, the GMCH superintendent told reporters.
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
Rediff.com's Rajesh Karkera and Hitesh Harisinghani bring you all the exclusive action from Greater Noida.
In the Sensex pack, gainers included HCL Tech, SBI, ITC, Bharti Airtel, Sun Pharma, Yes Bank, Axis Bank, TCS, Asian Paints, ICICI Bank, TCS, Bajaj Finance and Infosys, jumping up to 3.84 per cent.
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