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.
In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.
Jefferies has identified 11 stocks set to benefit from long-term macro trends like capital expenditures, government manufacturing initiatives, and financialisation.
Mumbai police formed 11 teams and also roped in the Crime Branch to nab the 24-year-old son of a ruling Shiv Sena leader after a BMW car the youth was driving crashed into a scooter, killing a woman and injuring her husband, an official said.
The Indian entrepreneurship success story will soon see one more company debuting on the public markets. Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO). This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
Baseless allegations are being made against Pune MLA Sunil Tigre linking him to the Porsche crash that left two software engineers dead, Maharashtra Deputy Chief Minister Ajit Pawar said on Saturday.
Preventive measures are in place and the forecast suggests further improvement, said the statutory body responsible for forming air pollution reduction strategies for the region and their implementation.
'At present, hybrids emit lesser carbon despite using fuel than pure play electric cars.' 'That is because EVs have to be charged and 76 per cent of the country's electricity is still coal-based and not renewables.'
Indian two-wheeler majors Hero MotoCorp and Bajaj Auto are the biggest beneficiaries of this surge and, between the two, they are estimated to control about half of the local market there
When compared to a one-year insurance, here's why it makes sense to buy a three-year policy
Bajaj Auto, India's leading two-wheeler (2W) and three-wheeler (3W) maker, is scaling up its wholly owned finance subsidiary, Bajaj Auto Credit Ltd (BACL), with an investment of more than Rs 3,000 crore planned over the next two financial years, company's managing director Rajiv Bajaj said. BACL has already started commercial operations, Bajaj recently said on the sidelines of the group's CSR identity event. According to rating agency CRISIL, BACL's operations began on January 1 after receiving its licence from the Reserve Bank of India (RBI) in August last year.
Irdai has proposed to increase the Motor Third Party premium rates for cars below 1000 cc to Rs 2,120 from the existing Rs 1,850 for the fiscal 2019-20.
The Federation of Automobile Dealers Associations (Fada) has raised concerns over the rising inventory levels of four-wheelers at dealerships which have now reached a 60-day stockpile or around 550,000 units. This situation could mean a significant financial burden on dealerships due to the additional interest cost for the extended holding period. These 60-day inventory levels are nearing the 2018-19 levels when inventory days had approached 70 days, leading to the closure of around 282 passenger vehicle dealerships.
Bajaj Auto's market capitalisation (market cap) hit Rs 2 trillion mark for the first time. The stock of the two and three-wheeler major rallied 6 per cent to hit a new high of Rs 7,420 on the BSE in Tuesday's (January 9) intraday trade after its board approved Rs 4,000 crore share buyback at Rs 10,000 per share. The stock ended the day at Rs 7,093.75, up 1.55 per cent and its market cap a shade above Rs 2 trillion.
According to the statement, NIA investigations have revealed the involvement of the notorious terrorist-gangster syndicate behind the killing of Gogamedi, who was shot dead in the living room of his house in Shyam Nagar colony in Jaipur in December 2023.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
'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.'
Amid rising petrol prices, two-wheeler makers such as Mahindra & Mahindra, TVS Motors, Hero MotoCorp and Bajaj Auto are stepping up research to develop engines run on diesel or other fuels.
Cops also called Manorama, her husband Dilip and three others, all shown as accused in the FIR, as "influential and politically active" persons, in the court in Paud that remanded Manorama in police custody till July 20.
Popular doesn't always mean best. Here's why.
When you purchase a two-wheeler, the dealer usually takes care of the hassles of registering the vehicle and getting it insured. However, you should know the types of insurance policies available and the features of the policies.
The state is also the biggest market for TVS, another incumbent player, and together with Bajaj Auto, they accounted for 88 per cent of Maharashtra's total electric scooter sales last month. As many as 8,417 units were sold in Maharashtra in September. Bajaj Auto's contribution was 4,048 vehicles and that of TVS was 3,389, according to model- and state-wise data from the Society of Indian Automobile Manufacturers (Siam).
The stock of commercial vehicle (CV) company Ashok Leyland is up 46 per cent in the past three months, gaining despite worries about a slowdown in sales volume. Brokerages have a mixed view on the country's second-largest medium and heavy commercial vehicle manufacturer. The company reported steady March quarter results and its valuation, focus on growth and medium-term prospects are positive, but some brokerages are cautious, given near-term demand concerns and the risk of competition increasing in the industry.
Leading banks have raised the down payment for two wheelers to 30% and put them in high risk category. This move has dire consequences on two wheeler makers.
Several police personnel were injured in the stone pelting, an official said, adding Chief Minister Vishnu Deo Sai was briefed on the situation by the chief secretary and the DGP.
Driven by robust demand, automobile retail sales in India rose to a record high this festive season with all segments, barring tractors, reporting year-on-year growth, dealers' body FADA said on Tuesday. Overall automobile sales rose 19 per cent to 37,93,584 units in the 42-day festive period this year as compared with 31,95,213 units last year. During the period, which starts from the first day of Navratri and ends 15 days after Dhanteras, passenger vehicle retail sales rose to 5,47,246 units, up 10 per cent from 4,96,047 units in the same period last year.
Passenger vehicle wholesales in India rose 9 per cent year-on-year in August on the back of strong demand for utility models, industry body SIAM said on Monday. Overall passenger vehicle dispatches to dealers rose to 359,228 units last month from 328,376 units in August 2022. Utility vehicle sales increased 34 per cent year-on-year to 181,825 units.
"We never thought that such an incident would take place," father of a three-year-old boy, who died in the stampede at a religious congregation in Hathras, said on Wednesday.
'It is the love from the people that keeps coming from unexpected corners which makes life so special.'
Singing a different tune than its foreign partners, Bajaj Auto on Friday said it will launch a four-wheeler commercial vehicle in mid-2012 from the ultra-low cost car (ULC) platform, which was originally planned to roll out a car with Franco-Japanese alliance Renault-Nissan.
The official further said Mihir Shah's father and Palghar Shiv Sena leader Rajesh Shah took active part in ensuring his son's escape and also had plans to tow away the offending vehicle.
When I asked Krishna Gopal Sengupta, who had travelled through Bangladesh from Chittagong to Petrapole if the interim government had made any impact at ground level, he said, "it's been only a couple of days. They will need some time." Shyam G Menon reports from Petrapole, India's entry point with Bangladesh.
Two men were arrested and two minors were apprehended in connection with Wednesday's incident at Chikkabettahalli
Who is ruling the booming two-wheeler market in India? Read on to find out more!
The country's second-biggest bike maker Bajaj Auto today said it will launch CNG
A sudden downpour in Delhi caught citizens off guard and caused heavy waterlogging and traffic jams on Tuesday while Mumbai breathed a sigh of relief as showers stopped a day after heavy rain brought the metropolis to its knees.
The biggest bounce is in the realty sector, where the industry index jumped 80%. There's been a turnaround also in automobiles and ancillaries (up 45%). The pharma and health care indices have a welcome return of roughly 35%.
Vietnam-based electric vehicle maker VinFast, a rival of Tesla in the global market, has set foot in India and began work on building its Rs 16,000 crore EV manufacturing facility at Thoothukudi in Tamil Nadu. The company has already sought a reduction in import duties on its cars for about two years until customers get familiar with the brand and its unit in the state. The global major kicked off the construction of the first phase of its integrated EV hub, which may see Rs 4,000 crore of investment initially and will create more than 10,000 jobs.
It said the actions not only impact India-Canada relations but also encourage a climate of violence and criminality in Canada to the detriment of its own citizens.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances