Congress chief Mallikarjuna Kharge said that if voted to power, the party would provide loans at three per cent interest rate for farmers, journalists, women's self help groups, potters, handloom weavers, fishermen and shepherds. All pending loans under the Ashraya and Awaz Yojana scheme will also be waived off.Free colour TVs and 25 kg of rice at Rs 2 for families living below the poverty line that is what the Congress manifesto promises.
Citing unviable duty structure on key components like flat panels and open cell parts, Samsung had shuttered its TV assembly lines in Tamil Nadu in 2018.
Stung by the government's punitive action on electric two-wheelers, registrations in April fell by nearly a fourth to 62,581 from 82,292 in March, according to data from VAHAN. Electric two-wheeler companies, including Okinawa, Hero Electric, Ather Energy, and TVS, have all clocked their lowest registrations in the four months of this calendar year. Ola Electric has been the only exception to this bloodbath, and has crossed its March numbers, hitting 21,560 registrations in April, which is its highest in this calendar year. As a result, there have been some interesting changes in the electric two-wheeler pecking order.
TVS Motor Company's ambition to become the second largest two-wheeler player in the country is pegged on a twin strategy.
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
Tamil Nadu is leaving no stone unturned in marketing its upcoming global investors meeting on January 7 and 8. While business veterans are promoting the positives of the state's industrial climate through the 'Titans of Tamil Nadu" campaign, the state is narrating the human stories behind its robust industrial growth via the 'One Trillion Dreams' campaign. Among the industry bigwigs, who are showcasing Tamil Nadu to the world through this mega marketing initiative include Venu Srinivasan of TVS Motor Company, K M Mammen of MRF Ltd, Pratap Reddy of Apollo Hospitals, P R Venketrama Raja of Ramco Group, Mallika Srinivasan of TAFE; and Vellayan Subbiah of Murugappa Group.
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation "realistic" and distinguish between the goals of the organisation and its founder. "Startups may strive for long-term value creation rather than short-term valuations. "The valuations of businesses should be kept as realistic as possible," CII said in its Corporate Governance Charter for Startups.
Ola Electric's initial public offering (IPO), of Rs 5,500 crore, is essentially aimed at ensuring the company maintain its top position in the electric two-wheeler segment, with incumbent players TVS and Bajaj Auto giving a fight to the number one player in market share. Most experts and competitors say the amount being raised is in line with the investment required to expand the electric-vehicle (EV) business. There are two discernible trends in the competitive electric two-wheeler market.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
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.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
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.
Banerjee said her microphone was stopped after five minutes, while other chief ministers were allowed to speak for longer durations.
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
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.
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.
Consumers may have to shell out more to buy television panels as manufacturers say they may raise prices again in April. The industry has been facing this issue of price rise post the pandemic and open cell prices have gone up by around 30 per cent in the last one year. And, television panel manufacturers expect this trend to continue.
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.
India's largest two-wheeler maker by volume - Hero MotoCorp (Hero) - posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
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.
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.
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.
The scope of services includes the suite of IT infrastructure and applications across the enterprise.
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 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 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.
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.
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.
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.
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.
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.
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.
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.
