Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
Vice President of India Mohammad Hamid Ansari arrived in Naypyidaw in Myanmar on Thursday on a four-day visit during which India and Myanmar will sign three agreements, one of which will see auto giant Tata Motors setting up a truck manufacturing unit in this neighbouring country.
The BSE IT sector, however, failed to snap a three-day losing streak and closed around 0.14 per cent lower.
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.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
Fiat India Automobiles Ltd, a 50-50 JV between Fiat Group Automobiles and Tata Motors Ltd, has sold 10,000 units of its sedan, Linea, since its launch in January this year.
Domestic passenger car sales declined by 4.36 per cent in August to 94,584 units from 98,893 units in the same month last year.
Sales of commercial vehicles, which were on a decline for over a year, are showing signs of a recovery. Two out of the three CV makers reported an increase in sales last month.
The Fed interest rate decision, domestic macroeconomic data announcements and quarterly earnings will be the major sentiment drivers for the equity market in a holiday-shortened week ahead, analysts said. Investors will also take cues from the monthly auto sales numbers to be announced on Monday. Equity markets will remain closed on Thursday for Diwali Laxmi Pujan and on Friday for Diwali Balipratipada.
Tata Motors Managing Director Ravi Kant spoke to reporters on the problems in Singur, the production site for the Nano, soon after announcing the company's quarterly results.
In a statement correcting media stories that appeared on Sunday suggesting its plants would be shut for longer, a company spokersperson said, "The reality is that our annual summer shutdown begins at the end of next week (July 23) as scheduled and will last for two weeks, with the plants due to restart on August 10. This two-week break is actually a week shorter than the traditional three-week break our plants have previously had."
Posting a remarkable turnaround after a dip in sales for three previous months, Maruti Suzuki sold a record 67,005 vehicles in the domestic market--the highest ever in a month in its 25-year history--reflecting a 5.6 per cent growth over January 2008. The previous sales record was 65,216 units, notched up in November 2007, when there was no slowdown.
The 12-hour bandh was called by the Trinamool Congress against farmland acquisition for a Tata Motors project.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
Car sales likely to touch record 3-mn mark by the end of March.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
The growing impact of inflation on car sales is clearly reflected in the dismal growth in domestic sales of the country's three leading auto-makers - Maruti Suzuki, Hyundai India and Tata Motors - which constitute more than 75 per cent of the car sales.
The trade between India and Saudi Arabia is growing rapidly with the bilateral trade crossing USD 9.87 billion last year.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Is the Hexa more than a repackaged Aria? Clearly, yes! The Hexa has been arrived at after thoroughly revamping it from nose to tail, inside and out
There were more than three losers against every gainer on BSE
Sales of passenger vehicles in India are likely to grow at 14.9 per cent each year to touch the 2.1 million mark by 2010.
Sensex seems to be under pressure on weak cues.
India is a market for low-priced cars with low running costs. The global majors don't have models that fit the bill; only Maruti and Hyundai have successful entry-level models, observes T N Ninan.
Ahead of the peak festive season, India's passenger vehicle makers are staring at a cumulative order backlog of nearly 500,000 units as chip shortage continues to cripple production. The crisis is forcing companies to change their production plans frequently and take a call on the variants they can manufacture based on the availability of semiconductors. The booking numbers are not a true reflection of demand, said manufacturers.
Maruti, Honda and Tata Motors posted highest sales growth during the month
Accelerated by top three automakers -- Maruti, Hyundai and Tata Motors -- the car sales posted a phenomenal 73.1 per cent rise in February, promising an impressive performance during 2003-04.
Amid a shift in mobility trends and people increasingly opting for less polluting energy sources, sales of compressed natural gas (CNG) vehicles increased more than 82 per cent in the past five years. A total of 729,902 CNG vehicles were sold in 2022-23 against 400,825 in 2017-18, according to VAHAN Dashboard. Though the increase in sales of CNG-powered vehicles has been significant, their share in overall vehicle sales remains minuscule as is the case with EVs.
Driven by the top three carmakers -- Maruti, Hyundai and Tata Motors -- the car sales surged by 25 per cent in June 2004 over the same month last year.
Maruti, Hyundai & Mahindra together had 72.5% market share in year's first half.
Propelled by the top three automakers -- Maruti, Hyundai and Tata Motors -- domestic car sales surged by a robust 31.1 per cent in January.\n\n\n\n
The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
It epitomises a significant opportunity lost, just when the state was beginning to shed three decades of leftist inhibitions in favour of economic reform.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
With increased consumer awareness and government support in place, it is the opportune time to enter the electric passenger vehicle segment, Mahindra Group Chairman Anand Mahindra said on Monday. With an eye on gaining leadership in the electric four-wheeler segment, the Indian auto major announced that it will launch five new electric Sports Utility Vehicles (SUVs) for both domestic and international markets, with the first four expected to hit the road between 2024 and 2026. The company would introduce the first of the five e-SUVs towards the end of 2024, starting with the Indian market.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
It has been a more than interesting and definitely an exciting last season with the battle of supremacy raging on between automakers.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
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