Mutual funds pared exposure to auto, cement, metal, FMCG, telecom, sugar, and power stocks in January.
The stand-off between Bajaj Auto and TVS Motor Co over the alleged patent infringement continues with both the companies sticking to their positions.
Although the revocation application was filed in August, it takes time for the Apellate Board to send notices and hence, TVS took upon itself to inform BAL about the same.
Two wheeler sales dropped in the past quarter as leading banks put two wheeler finance under high risk category.
TVS announced its plans of introducing new products this year. It is hoping to revive its nose-diving motocycle sales with these products in the coming fiscal.
TVS was represented in court by K Parasaran, Mukul Rohtagi and Dushyant Dave, among others. C A Sundaram appeared for BAL.
The ongoing credit squeeze in the sluggish two- and three-wheeler markets may affect the March sales targets of the three leading domestic players in the country. Taking the cue from a buoyant FY07 where the two-wheeler industry grew by a healthy 11.42 per cent, companies such as Hero Honda, TVS Motors and Bajaj Auto were hoping to surpass the FY07 target of 7.8 million units this year.
The price war in the motorcycle market is all set to worsen with large production capacities at tax-free locations in the north ready to go on stream.
Bangalore-based TVS Motor Co has filed a Rs 250-crore (Rs 2.5-billion) defamation suit against Bajaj Auto Ltd in the Bombay high court, against the latter's allegation of patent infringement. Earlier, BAL alleged that TVS had copied its patented DTS-i (Digital Twin Spark plug ignition) technology in the 125 cc TVS Flame, slated to be launched in December this year.
Honda Motorcycle and Scooter India (HMSI), Suzuki Motorcycle India (SMI) and Yamaha Motor India (YMI) are building motorcycles and scooters to suit the Indian market. The models will be manufactured at the company's research and development centres in Japan and will use new platforms.
Declining sales and sliding margins are compelling two-wheeler makers such as Bajaj Auto, Hero Honda and TVS Motors to rejig strategy, to cope with the slowdown.
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
TVS Motor Company would roll out its bikes from Indonesia plant this month eyeing a first year sales of up to 90,000 units in that market amidst plans to spread its wings in the South East Asian region.
Venu Srinivasan, Chairman, TVS Motor Company has been conferred with a doctorate in science by Warwick University.
Rajiv Bajaj is on a high. First Bajaj Auto raced into the executive segment with the Discover snapping up a share of 21 per cent
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
Suzuki Motorcycle India announced the launch of two new bikes for the domestic market 'Heat' for excessive bike users and 'Zeus' targeted at college students and executives.
"We expect to capture the top position in the premium segment with the new bike. We are also working on another bike in the premium segment," Hero Honda managing director Pawan Munjal told reporters in New Delhi.
Chennai-based two wheeler major TVS Motor Co on Friday said it would set up a motorcycle assembly plant in Colombia through a joint venture company with a local partner.
The net sales drop was due to a decline in motorcycle sales following the credit squeeze by banks and the consequent reduced availability of finance.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
Excise duty on small cars, motorcycles and SUVs was reduced.
Chief Election Commissioner James Michael Lyngdoh, i-flex solutions Ltd chief Rajesh Hukku, and TVS Motor chief executive Venu Srinivasan have figured among the top 25 'Stars of Asia' chosen by the prestigious Business Week magazine.
Fans across the country will soon see Rawalpindi Express Shoaib Akhtar speeding in India not with a cricket ball, but on a yet-to-be-launched powerful bike by TVS Motor Company.
Take the Rediff Biz Quiz and find out how much you know about India and its two-wheeler companies.
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.
Recognised as one of the Stars of Asia by Business Week International, Venu Srinivasan, the chairman and managing director of TVS Motor Company.
The soft drinks giant bagged the sponsorship rights along with TVS Motor company and Videocon for matches in India in 2003-04.
