MG Motor India is investing Rs 2,500 crore by the end of next year to increase the production capacity at its Halol plant in Gujarat, as it gears up to launch its mid-size SUV Astor, according to a top company official. Despite the worsening semiconductor shortage situation, which is likely to continue for at least another six months, the company expects its sales this year to grow by up to 100 per cent over last year. "We have done an investment of Rs 3,000 crore already, and by the end of next year, we will do another Rs 2,500 crore. "We will reach a total of Rs 5,500 crore," MG Motor India president and managing director Rajeev Chaba told PTI.
Tata Motors (TaMo) is aiming to gain market share across its passenger vehicle (PV) and commercial vehicle (CV) businesses - targeting a 40 per cent share in CVs and a 16 per cent share in PVs by 2027. Meanwhile, it has already achieved earnings before interest, tax, depreciation, and amortisation (Ebitda) breakeven in its electric vehicle (EV) business at 1.2 per cent (up 830 basis points), ahead of its target of 2025-26 (FY26).
'Such stocks may be useful for aggressive portfolios, but should not be part of the core holdings.'
As the total number of bank frauds increased from 6,800 in FY19 to more than 13,500 in FY23, the share of private banks in the occurrence went from 34 per cent to 66 per cent.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Modi reviewed the situation in West Bengal and Odisha with chief ministers Mamata Banerjee and Naveen Patnaik, two days after the cyclone, the worst in years, devastated their states.
Ola Electric is conducting an restructuring exercise which is expected to affect over 500 employees across various roles within the organisation, according to sources. This would be over 12 per cent of staff at the firm which has about 4,000 people. "This is a restructuring exercise ongoing for the last few months and is expected to conclude by next month," said a person familiar with the development.
Hindustan Aeronautics Limited, the Bengaluru-based public sector aircraft builder, has challenged the Indian Air Force's plan to purchase more Pilatus trainer aircraft by building a basic trainer aircraft, using its own funding.
Reliance Industries has announced the setting up a 2 million tonne per annum petrochemical complex at its special economic zone at Jamnagar with an investment of Rs 13,500 crore (Rs 13.5 billion).
... resulting in a Rs 2 trillion economic spinoff.
The Indian Coast Guard has seized 1,500 kg of heroin.
The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
Capital markets regulator Sebi has kept the proposed Rs 4,500-crore initial share-sale of edible oil major Adani Wilmar Ltd (AWL) in "abeyance". However, the Securities and Exchange Board of India (Sebi) did not clarify further. The company had filed preliminary papers with Sebi on August 3, to raise funds through an initial public offering (IPO).
The Oil Ministry has fixed the subsidy payout by upstream firms like Oil and Natural Gas Corporation and Oil India Ltd at Rs 15,546.65 crore (Rs 155.46 billion) for the April-June quarter.
Delays in the National Highway Development Programme are likely to cost the government dear with the project costs escalating by a staggering Rs 50,500 crore (Rs 505 billion).
Among fresher job seekers, one in three believes AI will create more jobs.
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
Despite a favourable Food Processing Policy, the industry faces problems because of lack of infrastructure facilities and highly unorganised structure of food processing units.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
In Budget 2020-21, the Department of Space has been allocated Rs 13,949.09 crore, of which Rs 8,228.63 crore has been earmarked for capital expenditure.
From the launch of the 'Startup India' initiative in 2016, to the abolition of angel tax and easing of reverse flipping norms, the startup ecosystem is evolving.
Zomato on Monday became the first new-age company to join the prestigious 30-share benchmark Sensex, replacing JSW Steel. This milestone marks a significant achievement not only for Zomato but also for the Indian startup ecosystem, which is increasingly making its presence felt in the $5.2 trillion listed ecosystem.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
RIL, Videocon A/c mistakes cause over Rs 500 cr tax loss: CAG.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
More screens, more films, and longer windows will convert to more people watching, assuming they know a film is releasing, points out Vanita Kohli-Khandekar.
IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also among the laggards. Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers.
Incessant rains and flooding have caused widespread disruption in northern India, with states like Himachal Pradesh, Delhi, Punjab, and Jammu and Kashmir facing landslides, road closures, and displacement. Rescue efforts are underway as authorities grapple with the aftermath of the deluge.
