The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
Auto majors face dip in exports due to credit squeeze in Lanka, Nepal
India's Auto Expo is considered to be among the biggest motor shows in the world.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
The country's largest carmaker Maruti Suzuki India (MSI) aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components, as per a senior company official. The company sold about 2.3 lakh CNG units in 2021-22. MSI currently sells nine of its 15 models with CNG powertrain and is looking to drive in more models with such technology in the coming days.
Maruti Suzuki, Hyundai and M&M draw visitors with a range of concept cars.
Haryana Industries Minister Mahender Partap Singh said the state would continue to accord priority to this sector in allotment of developed industrial land for the existing manufacturers for meeting their expansion requirements, as well as the new entrepreneurs.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
Tata Motors is looking at various measures, including direct buying from stockists and making changes in the product configurations, to offset the impact of semiconductor shortage on its production activities and sales, a top company official has said. The auto major, which sells models including Nexon, Harrier and Safari in the domestic market, is also looking at different kinds of chips which could be used in components where the supply situation is severe. The automaker expects the situation to remain challenging in the ongoing quarter and some improvement in supplies only in the second half of the fiscal.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Auto companies in the state are likely to go on an expansion drive buoyed by better-than anticipated sales over the past few quarters.
India will have 30 per cent of its two-wheeler industry turning electric by 2030 as new manufacturers lead the shift, said a report on Monday. Passenger vehicles will be 15 per cent electric and the three-wheeler segment 75 per cent electric by 2030, said the report by BNP Paribas called 'India Autos-Electric vehicles: Minutes to midnight'. "We see FY22 as the year of inflection for the two-wheeler EV industry, with an accelerated EV adoption helped by incentives, wider availability, model launches, rise in crude prices and improved general awareness. We see 30 per cent of the 2W industry turning electric by 2030; the pace of incentive withdrawal presents an upside/downside risk," the report (India Autos - Electric vehicles: Minutes to midnight) said.
Over 950 automobile and ancillary companies from 26 countries will take part in the seventh Auto Expo, slated to begin in New Delhi on Thursday.
According to Siam data, Indian auto companies sold 982,456 units of utility vehicles in the first half of FY23, a 50.29 per cent growth over the corresponding period last year.
The offer covers the Ritz, Swift, Swift Dzire and Ertiga, and is valid until May 24.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
With about 2,000 participants and 1,20,000 square feet of display area, the 9th Auto Expo would be next only to the Shanghai Motor Show in terms of space occupied and is expected to host over 12 lakh visitors during January 10-17. Organised jointly by Confederation of Indian Industry, Society of Indian Automobile Manufacturers and Automotive Component Manufacturers Association of India, the 9th Auto Expo would be open for general public from January 10-17.
Accelerated depreciation expires by September 2009 while funds under JNNURM for urban transport is available till June 2009; industry seeks these benefits for extended time period.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
Only Rico Auto Industries, whose Gurgaon plant was the epicentre of the strike after the death a worker in a group clash on Sunday, continued to be under lock-out.
Battered by the recent economic downturn, the Indian automobile industry is looking up to the newly elected government to implement some key measures to kickstart car sales. Top on their wish-list is ensuring availability of auto loans at lower rates of interest, continuation of some of the sops announced earlier in a stimulus package and a reduction in taxes.
At the car enthusiast's paradise, auto beauties from global manufacturers stole the show.
Indian auto component industry is expecting a slowdown in growth to 12-15 per cent in 2011-12 from over 34 per cent in the previous fiscal, Automotive Component Manufacturers Association of India said on Tuesday.
Here are the four most eye-catching offers from some of the most prominent brands.
Firm Asian cues and a higher opening of European markets reflecting a rally on Wall Street, where all three US indices hit new records following strong economic data, bolstered trading sentiments here
German premium car maker Mercedes-Benz on Wednesday reported nearly 100 per cent growth in sales at 4,101 units in the domestic market in September of the current year. Mercedes-Benz India had sold 2,058 cars in the Indian market in the July-September period of 2020. The strong rebound in sales particularly in Q3 2021 retail, reflects the continuous V-shaped recovery witnessed since the pandemic affected second quarter (April-June), owing to the return of economic activities, a stable economy at large and an overall positive market outlook.
Auto companies are looking forward to the continuation of incentives, including excise duty cuts, given in the two stimulus packages in the Budget 2009-10.
Young, raw energy from India's engineering colleges on display!
The government on Wednesday assured domestic and global auto companies all help such as granting SEZ status and a re-look at tax structure for setting up testing centres and manufacturing plants in a bid to make India the automotive hub of the world.
The German luxury carmarker on Tuesday said it will invest $50 million (about Rs 230 crore) to set up a financial services subsidiary to better serve its customers besides industry as a whole.
Jharkhand Chief Minister Arjun Munda on Monday said his government has a long-term plan to make the state the country's 'auto component hub.'
From the Sensex pack, IndusInd Bank, NTPC, Asian Paints, Hindustan Unilever, JSW Steel, Tech Mahindra, Bajaj Finance, Infosys, Wipro, ICICI Bank, Bajaj Finserv, HDFC Bank and Tata Motors were among the major laggards. HCL Technologies, Power Grid, Titan, Reliance Industries, UltraTech Cement, Tata Steel, State Bank of India and Mahindra & Mahindra were the gainers.
Abhijit Roy says second price rise is due to be effective from June.
There are 230 million vehicles on the road, and counting. Bulk of these are under seven years old and once they get older, the industry estimates the requirement for spare parts and aftersales service to shoot up sharply.
Quite a few international players also have ambitious plans for the Indian roads.
Passenger vehicle (PV) retail sales rose to 184,134 units last month against 85,733 units in May this year as the COVID-19 situation improved across the country. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,295 out of the 1,498 regional transport offices (RTOs), two-wheeler sales rose to 930,324 units last month as compared to 410,757 units in May.
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