TVS Venu Group has agreed to acquire a minority stake of up to 9.9 per cent in Jana Small Finance Bank, including a 4.9 per cent ownership by TVS Motor Company, through a combination of primary issuance of warrants and a secondary purchase.
TVS Motor Company met expectations in terms of revenue and posted a strong margin performance in Q1FY25. The key drivers were material cost savings and a better mix. The domestic demand outlook looks good with a rural rebound but geopolitical uncertainties in key export markets may dent overall growth.
'Today, we are at a stage where we have launched a voice-to-voice model that supports 14 Indian languages.'
Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion. Speaking at the annual Global Fintech Fest in Mumbai, Malhotra accepted that serving the "privileged" will be a lucrative business, but urged the smaller companies to focus on the underserved.
Given the stronger rural activity, and potential goods and services tax (GST) impact, investors are bullish on the two-wheeler (2W) segment. In August, dealers in the domestic market picked up 11 per cent more 2Ws year-on-year (Y-o-Y), despite only 2 per cent growth in retail registrations. This indicates inventory stocking ahead of the festival season. Export trends were good. TVS Motor and Royal Enfield may have gained domestic market share.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
M&M's used car biz becomes the first private firm to tie up with a bank for conducting online auctions of repossessed and off-lease cars. Ajay Modi reports.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
While the November 2017 round of rate revisions saw mainly eating joints unwilling to pass on GST benefits, this time round, sanitary napkin makers, TV manufacturers and even paint companies have said passing on GST benefits is not a feasible exercise.
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
We bring you the top 10 bikes that made their mark in 2016
Excise duty on most products has been capped at 12.5 per cent
Drones are of course, remotely controlled and modern ships are also chip-driven.
Urban markets account for the major share of total revenues.
Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
The fact that the US dollar has become the world's preferred reserve currency is now the core of global financial crisis, says Mohan Guruswamy.
'Expectations were being built up about radical moves and the action plan did not disappoint.'
'If my understanding is correct, one has to file not less than 37 returns per year for every ordinary business, and that too per state.' 'If you are doing businesses in Chennai, Bangalore and Hyderabad, you have to file 37x3 returns every year!' 'The consequence of GST will be chaos, confusion and possibly economic crisis.'
Gone are the days of over-the-top Diwali parties, says Kishore Singh. This year round, the taxman is the invisible -- and unwanted -- guest at these once extravagant affairs.
Dhruv Shirpurkar's parents never let go of their faith in God while standing with him in his battle against a rare disorder that left him 85 per cent disabled and bound to a wheelchair.
When is the last time our government recognised a twenty something entrepreneur for introducing a break-out innovation?
