India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
Delhi's air quality deteriorated significantly on Monday, with areas like Dwarka, Mundka and Najafgarh recording an AQI of 500, the worst this season. The city's overall AQI reached 491, triggering the implementation of the Graded Response Action Plan (GRAP) Stage-IV restrictions in Delhi-NCR. Doctors warned of health risks, urging people to wear N95 masks and avoid outdoor activities. The Supreme Court questioned the Delhi government on its anti-pollution measures and warned against scaling down preventive measures without its permission. Delhi Chief Minister Atishi accused the BJP-led central government of political maneuvering while neglecting stubble burning in states it governs. Meanwhile, the city enforced stricter pollution control measures, including a ban on truck entry and suspension of construction activities. Air purifier sales surged, reflecting the public's concern over the severe air pollution.
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.
The early-bird results for the April-June quarter of 2024 (Q1FY25) hint at a slowdown in corporate revenues and profits in FY25. Corporate profits might face headwinds from a continued revenue growth slowdown and a reversal in margin gains from lower commodity and energy prices in FY24. The combined net profit (adjusted for exceptional gains and losses) of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters.
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
'The pricing model will be different. The product will be different.'
Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on November 25 between 11 am to 1 pm.
Stepping up the competition in the electric vehicle (EV) market, JSW MG Motor on Wednesday launched its electric crossover sport utility vehicle (SUV) Windsor with a new and 'aggressive' pricing model, an assured buyback plan, a lifetime battery warranty, and free public charging for one year. Under this new battery-as-a-service (BaaS) pricing model, customers can purchase the Windsor at a starting price of Rs 9.99 lakh (ex-showroom) and then pay a battery usage fee of Rs 3.5 per kilometre (km).
After four years of high double-digit growth in profits, corporate earnings of Indian companies hit a speed bump in the April-June quarter of 2024 (Q1FY25), leading to the risk of a downward revision in India Inc profit estimates for FY25 and volatility in the equity market. Earnings growth slowed despite companies in most non-financial sectors reporting higher operating margins from lower commodity prices and a decline in interest costs.
Sale of Apple's iPhone 15 is estimated to have registered a 100 per cent growth compared to that of the iPhone 14 series on the first day with high demand for made-in-India iPhone 15 and iPhone 15 Plus models, according to industry sources. Apple has for the first time made available the 'made-in-India' iPhone on the same day it started selling the devices in the country and other parts of the globe. "Till evening, 6 pm IST, the sales of iPhone 15 series have recorded over 100 per cent growth on Day 1 compared to the sale of iPhone 14.
Jan Suraaj founder Prashant Kishor has begun a fast unto death in Patna, demanding the cancellation of a recent examination held by the Bihar Public Service Commission (BPSC). Kishor's hunger strike comes after he gave a 48-hour ultimatum to the Nitish Kumar government to act on the demand, raised by aggrieved candidates who allege the exam was rigged. The administration has declared the hunger strike illegal as it is not the designated site for protests.
In a year bookended by intractable conflicts and geopolitical fragmentation, India focused on ramping up military prowess by broadly firming up defence procurement worth Rs 4.22 lakh crore even as Indian and Chinese militaries completed pulling back their troops from border face-off points in eastern Ladakh.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
Major carmakers, including Maruti Suzuki, Hyundai, Tata Motors on Friday reported growth in their passenger vehicle sales in June as semiconductor shortage woes showed gradual signs of easing out. Other manufacturers, Kia India, MG Motor India and Skoda Auto India also reported robust sales growth last month. Maruti Suzuki India (MSI) reported 5.7 per cent increase in total wholesales at 1,55,857 units in June as compared to 1,47,368 units to dealers in June 2021.
E-commerce firm Amazon India has announced the creation of over 110,000 seasonal job opportunities across its operations network as it prepares to serve millions of customers throughout India during the upcoming festival season. These positions include both direct and indirect roles in cities such as Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow, and Chennai, among others. Notably, Amazon has hired thousands of women and nearly 1,900 individuals with disabilities into its existing network.
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
India Inc has reported a muted start to the financial year 2024-25, with a decline in net earnings and a modest single-digit uptick in revenues. An analysis of 488 companies that have released their results for the June 2024 quarter reveals a 1.6 per cent year-on-year (Y-o-Y) drop in combined net profit -- the weakest performance in the past seven quarters. In stark contrast, the combined net profit of these companies experienced a 13.6 per cent Y-o-Y increase in the previous quarter (Q4FY24) and a 65.2 per cent Y-o-Y rise in Q1FY24.
India's services sector lost momentum in July as demand was curtailed by competitive pressures, elevated inflation and unfavourable weather, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 59.2 in June to 55.5 in July, pointing to the slowest rate of growth in four months. For the 12th straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
The Indian services sector activity fell to a six-month low in September, as new business inflows rose at the slowest rates since March, amid inflationary pressures and competitive conditions, a monthly survey said. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September, from 57.2 in August, highlighting the weakest rate of expansion since March. For the fourteenth straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Aviation regulator DGCA on Monday directed crisis-hit Go First to immediately stop bookings and sale of tickets directly or indirectly till further orders, according to a source. Besides, the watchdog has issued a show cause notice to the budget carrier under the relevant provisions of the Aircraft Rules, 1937, for its failure to continue the operation of the service in a safe, efficient and reliable manner, the source said. Earlier, the airline had suspended the sale of tickets till May 15 and has cancelled flights till May 12.
What was once a solemn Vedic ritual is today a celebration for the entire extended family. And why not? With families living in distant cities, even continents, weddings are seen as an occasion for cousins and uncles to congregate under one roof for two or three days, observes Ambi Parmeswaran.
Maruti Suzuki India (MSIL) plans to open new Arena Satellite showrooms as the country's largest carmaker aims to tap small towns and new markets, said a senior company executive, amid signs of recovery in rural demand and an approaching festival season. Senior executive officer for marketing and sales MSIL, Partho Banerjee, told Business Standard the company was aiming to penetrate deeper into markets and reach closer to its customers. "We have already had a concept of mobile showrooms in the Arena channel.
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
With November 22, 23 and 24 being among the most auspicious dates for marriage this year, hotels across the country are all booked, as are wedding-related ancillary services.
The Cyberster is currently sold in the UK for about Rs 63 lakh and is expected to be priced between Rs 65 lakh and Rs 70 lakhs.
'Companies are being forced to pay higher salaries to retain and hire employees due to a big rise in attrition in the industry.'
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
A robust margin performance in the September quarter (Q2FY25) led to a 12 per cent rise in the stock of defence major Bharat Electronics (BEL). While the stock has given up most of those gains in the recent market correction, analysts are positive on the company due to its strong order book, new order inflows, and margin trajectory. The near-term trigger has been the operating performance in Q2FY25.
The Indian services sector growth touched a six-month high in December, supported by a robust intake of new work and favourable market conditions, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 56.4 in November to 58.5 in December, highlighting the strongest rate of expansion since mid-2022. For the 17th straight month, the headline figure was above the neutral 50 threshold.
The FMCG industry hopes for a revival in consumption growth in 2025 with some 'green shoots' already visible, after having a challenging year amid escalating input costs and a double-digit rise in food inflation, which ultimately slowed down the pace of the urban market growth in the second half of 2024. Soaring prices of commodities such as palm oil, coffee, cocoa and wheat forced FMCG players to go for a hike of 3 to 5 per cent or resort to shrinkflation by reducing pack sizes and grammage to retain attractive price points, fearing a volume loss.
rediffGURU Chocko Valliappa offers advice on how you can pick the right course and career.
The Reserve Bank of India's (RBI's) State of the Economy report for October acknowledged a slowdown in some high-frequency indicators but expressed confidence in a recovery, aided by consumption demand during the festival season. "In India, aggregate demand is poised to shrug off the temporary slowdown in momentum in the second quarter of 2024-25 as festival demand picks up pace and consumer confidence improves," said the report released on Monday.
Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 2024-2025 (Q1FY25)with growth in the number of patients. AHLL (Apollo Health & Lifestyle), a subsidiary, posted sales growth and profitability. APH also reduced operational costs at Healthco.
Police said they had received a complaint from one Ravindra Singh, a pilot with SAR Aviation Service Private Limited, who alleged that his firm's helicopter was stolen. Singh claimed that the chopper was taken away in parts in a truck by some people in May. He claimed that he was assaulted when he confronted those people.
The Chhattisgarh government has decided to set up model fair-price shops (FPS) in each district and encourage owners to act as banking correspondents for providing financial services. The state has around 12,300 fair-price shops across 33 districts. The state government is, however, encouraging FPS owners to provide a host of services besides acting as a banking correspondent.
Indian manufacturers are concerned about losing market share to Chinese makers.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The government on Monday decided to call off the strategic divestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases. Pawan Hans is a 51:49 joint venture of the government and ONGC. The government had in April last year decided to sell the helicopter service provider for Rs 211.14 crore to Star9 Mobility Pvt Ltd -- a consortium of Big Charter Private Ltd, Maharaja Aviation Private Ltd and Almas Global Opportunity Fund SPC.
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