IndusInd Bank, Infosys, Maruti, Vedanta, Hero MotoCorp, Tata Motors, ONGC and RIL too fell up to 4.96 per cent.
Major automakers, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Toyota and Honda, on Thursday reported healthy growth in passenger vehicles sales in June, recovering from the disruptions induced by the second wave of COVID-19. The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May. Its domestic dispatches to dealers last month stood at 130,348 units, up from 35,293 units in May, as easing of COVID-related restrictions helped the auto major to dispatch more units to dealerships.
Considering how cheap Ford cars are to maintain these days, the EcoSport is definitely recommended for someone who doesn't prefer a Maruti or a Tata for that matter.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
The Tata Safari is an SUV which was the big brash brutish bully of the road in the early 2000s before the Toyota Fortuner snatched that crown. The car's styling still harkens back to the pre-Zest era of Tata Motors but there is still a whole lot more than what meets the eye. Therefore, the people at MotorBeam decided to induct the powerful Varicor 400 variant of the new Tata Safari Storme in their long term fleet to test out whether the big burly beast is still relevant or not.
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
Among the Sensex firms, Tata Motors jumped over 3 per cent. Tech Mahindra, Infosys, HCL Technologies, Axis Bank, Mahindra & Mahindra, ICICI Bank, UltraTech Cement and Kotak Mahindra Bank were the other major gainers. NTPC, Asian Paints, Titan and Power Grid were among the laggards.
India, a booming market for passenger cars, manufactures 4 of the world's cheapest cars.
Though most people expected Tata Motors to select either Andhra Pradesh or Karnataka for its Nano project, it was clear that Gujarat Chief Minister Narendra Modi had done the impossible and coming from nowhere bagged the prestigious project.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
The author tries to separate the hyperbole from reality in the Gujarat model.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
Salboni, in West Medinipur district, is where JSW Steel in 2007 said it would be putting up a 10 million tonne a year steel factory, plus a big captive power plant.
M&M was the biggest loser in the Sensex pack, declining nearly 3 per cent, followed by TCS, Bajaj Finance, Wipro, Kotak Bank, Tech Mahindra, HCL Tech and Tata Motors. In contrast, Titan, Bharti Airtel, ICICI Bank and L&T were among the gainers, rising up to 0.93 per cent.
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
The highest pay hikes for the current year are set to come from Maruti Suzuki and Hero Honda.
Nano remains a cautionary tale of misplaced ambitions and a drag on profit.
Ratan Tata was the first one to realise that Indian companies had become a prisoner to tradition and needed to radically innovate.
In the month of August Indian car industry posted sales of 160,794 units and the industry grew 33 per cent.
'Tata Steel has doubled, Tata Motors has more than doubled, and Tata Chemicals too has more than doubled.' 'So, Cyrus Mistry was getting accepted by the market for bringing in the change that was good for the group companies.'
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
India's economic condition is expected to improve by 2022 though the gap between the rich and the poor would widen, said C K Prahalad, management consultant and author of corporate strategy, including The Core Competence of the Corporation, said on the sidelines of the CII press conference.
Model 3 received 180,000 orders worldwide.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Ahead of the international auto show that begins next Wednesday, the Indian auto industry continues to be buffeted with bad news. According to data released by leading automobile companies on Saturday, the industry's sales volumes in January fell about five per cent from those in the same month last year.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
The distinction between "cheap" and "affordable" is a fine one, but no one understands this better than India's aspirational first-time car-owner, says Kanika Datta.
At present, there are many vehicles that weigh close to the proposed increased weight of 600 kg.
About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
Higher disposable incomes, rural push and infra push to boost auto sector
If there is a genuine SUV in the market in the Rs 15 lakh price bracket, it is the Tata Safari Storme that offers every bit of an SUV feel.
Buying a car, particularly a diesel-powered one, is set to pinch the customers' pockets even more from the next financial year, as the second phase of Bharat Stage VI (BSVI) emission norms kicks in. The rules require cars to be compliant with real driving emission (RDE) norms, which measure pollutants emitted by cars while they are being driven on the road, unlike in a laboratory test. The norms may increase the cost of producing diesel vehicles by nearly Rs 75,000 to Rs 80,000, and petrol-powered ones by Rs 25,000 to Rs 30,000, analysts said.
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
In power, Mamata Banerjee has tried to bury the ghost of the past, but it might still be work-in-progress. Big-ticket and eye-grabbing (in terms of investment size) projects are still few and far between, reports Ishita Ayan Dutt.
