Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
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.
Young Indian golfer Aditi Ashok notched up her second successive top-10 finish by finishing tied-sixth at the Volunteers of America LPGA Texas Classic, in Texas.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
'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.'
Top gainers in the Sensex pack included Tata Steel, Kotak Bank, NTPC, HDFC twins, PowerGrid and ONGC, rising up to 4.60 per cent.
Hero MotoCorp's much-awaited first bike after its divorce from Honda is now up for grabs. But will the average Indian biker cough up a premium price for the bike? Find out!
Summary of sports events and persons who made news on Tuesday
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.
Two wheels and an open road. Biking during Coronavirus Days.
Handset maker Motorola has said its latest smartphone - Nexus 6 - priced Rs 43,999 onwards, can be pre-ordered in India on Flipkart from Tuesday.
The two-wheeler industry marked its first fall in 11 months in November with sales of 1.24 million reporting a fall of nearly six per cent compared to the same month last year
In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
Domestic investors were also concerned about possible stagflation in India due to low growth and high inflation in wake of recently released government data. IndusInd Bank was the top loser in the Sensex pack, dropping 5.44 per cent. Infosys, SBI, PowerGrid, Tech Mahindra, Bharti Airtel and HDFC Bank too fell up to 1.21 per cent.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
Top gainers in the Sensex pack included Hero MotoCorp, Maruti, M&M, Bajaj Auto, HUL, HCL Tech, Bajaj Finance, ITC, HDFC and L&T, rising up to 7.51 per cent.
B M Munjal positioned motorcycles as more fuel efficient than scooters, which struck a chord with the cost-conscious Indian buyers.
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.
Hero MotoCorp sold 254,813 Splendors, about 4,000 more than the 250,681 Activas sold by its rival Honda Motorcycles and Scooters India.
The All India Tennis association (AITA), taking a more aggressive stance than earlier, said it would not request for a neutral venue for the Asia Oceania Zone 1 tie on September 14-15 as is being asked by the International Tennis Federation (ITF).
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
HCL Tech and ONGC were the top gainers in the Sensex, rising up to 3.40 per cent.
The Pune-based company sells the Platina and CT brands in the entry-level - 100-110cc - segment.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Auto stocks will be in focus
The Sensex rally was driven by Tata Motors, Vedanta, Bharti Airtel, Maruti, Reliance Industries, Tata Steel, Larsen and Toubro and HCL Tech.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Falling incomes and longer winter to translate into lower demand for at least some months.
Ferrari still want MotoGP world champion Valentino Rossi to race for them next year if they manage to change Formula One rules and enter a third car.
Bhushan submitted that his tweet about Chief Justice of India riding a motorbike was to underline his anguish at the non-physical functioning of the Supreme Court for last more than three months, with hardly any cases being heard.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
Samsung's Gear Live is available in India for about Rs 15,900, while LG's G Watch is priced at Rs 14,999.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
Navratri and Onam saw flat sales, but industry hopes to turn the corner with a cracker of a Diwali.
The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
In the Sensex pack, losers included TCS, HUL, Tata Steel, HCL Tech, Infosys, Bajaj Finance, HDFC, IndusInd Bank, Asian Paints, ITC and Vedanta, shedding up to 3.70 per cent.
