Venu Srinivasan, CMD of TVS Motor, believes that margin pressures will continue due to raw material costs. He further states that the company hopes to maintain gross margins in FY07.
Rohan Murthy, the only son of his parents, has found his life partner in Lakshmi Venu, the 26-year-old daughter of TVS Motor co-chairman Venu Srinivasan. In no time after confirmation from the bride and the groom, the two families sealed the merger of souls with their engagement in Chennai on Friday evening.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
Even though electric two wheeler (e2W) companies saw a slight recovery in July of 12 per cent with 49,518 registrations - after a wash out in June because the government slashed the FAME 2 subsidy by a third - registrations are still lower for the second month in a row compared to April FY24. The slow pace has raised doubts about whether the registrations will reach anywhere near either Niti Aayog's ambitious target of 2.4 million vehicles in FY24 or whether they will be closer to the trimmed down industry expectation of around one million. In June, e2W registrations plunged to a mere 44,253, the worst month in more than a year, as companies hiked scooter prices.
Hitachi will spend Rs 12 crore (Rs 120 million) to advertise and promote its LCD and plasma TVs in India and plans to capture a 20 per cent market share in the high-end plasma TV market by 2007-08.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
After lagging behind other segments in the automotive (auto) space over the past few years, two-wheelers are expected to reverse their volume underperformance. After witnessing a 36.3 per cent volume decline over the 2018-19 (FY19) through 2021-22 (FY22) periods, the sector staged a recovery in 2022-23 (FY23), with volumes rising 17 per cent. While volumes are still a quarter lower than the FY19 peak of 21 million units, a double-digit growth trajectory is expected to prolong.
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
Diesel fuel injection systems supplier Delphi-TVS on Saturday said it would invest Rs 500 crore (Rs 5 billion) to manufacture common rail fuel injection systems and set up a technical centre in Chennai for product development.
Notwithstanding the ongoing decline in equity markets week after week, August has proven to be the most successful since December for initial public offerings (IPOs). In August of this year, six companies have collectively raised approximately Rs 4,269 crore through IPOs.
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.
The move comes on the back of the potential for the conventional televisions in India. Industry watchers said high-end televisions were gaining popularity in urban markets, while first-time buyers and rural markets prefer conventional televisions. Globally, Sony has taken a strategic decision to exit from the CRT TV business from this month-end due to a slow demand. Sony had reduced LCD prices to align with Korean duo LG Electronics and Samsung a few months back.
TVS Motor Company on Tuesday said it would set up a Rs 500 crore plant at Nanjungud in Karnataka to make a foray into the fast growing three-wheeler market.
The scope of services includes the suite of IT infrastructure and applications across the enterprise.
TVS Motor Company has reported a 30 per cent decline in its motorcycle sales during November 2003 at 48,052 units compared to 68,631 units in the same month last year.
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.
Samsung India Electronics Limited on Tuesday said it expects the contribution of Flat TVs in total television sales to grow to 50 per cent by the end of this year.
TVS Motor Company on Monday said it aims 3 to 4 per cent growth in two-wheeler sales during this fiscal, while motorcycle sales were expected to be flat at 700,000 units.
'Our expectations are that we will be able to double our market share from 14-15 per cent currently to around 30 per cent by the end of the financial year.'
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Friday reported robust sales for February as demand for sports utility vehicles continued to remain strong. Mahindra & Mahindra, Toyota Kirloskar Motor and Honda Cars also witnessed higher vehicle dispatches to dealers last month. February turned out to be the third-best month for sales for the industry ever.
'The whole narrative will change from TV is dying to TV-plus-digital is the future.'
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.
Kinetic on Wednesday relaunched the iconic two-wheeler Luna in an electric avatar, addressing the demand for affordable electric vehicles (EVs), more than two decades after its initial introduction. e-Luna will be available at an introductory ex-showroom price of Rs 69,990, as announced by Sulajja Firodia Motwani, founder and chief executive officer of Kinetic Green, after Union Road Minister Nitin Gadkari launched the vehicle. Motwani pointed out that the current top 10 electric two-wheelers in the country are priced between Rs 1.05 lakh and Rs 1.49 lakh, making them a "luxury" that is not "practical and accessible" for most people in India.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
Karnataka government officials would hold preliminary discussions with two-wheeler major TVS on Saturday on possible setting up of an engine manufacturing unit in the State, the Major and Medium Industries Minister Murugesh R Nirani said.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
The cost of open cells has seen an average increase of between 3 and 20%, and is higher for larger screen TVs in July, according to manufacturers of televisions
Cashing in on the interest generated in the three-dimensional world by films like Avatar, consumer electronics companies like Samsung, LG, Sony and Panasonic are gearing up to cajole Indian consumers to buy a 3D TV set
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
Holger Rune rallied from a set down and saved a match point to defeat former champion Taylor Fritz 2-6 7-6(2) 6-3 on Wednesday and reach the Indian Wells quarter-finals where he will meet fourth seed Daniil Medvedev.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
The once-powerful Japanese major is left with little to show in the face of sustained competition from rivals.
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