Banks cut interest rates, processing fees; offer discounts for online shoppers.
With the Thar, M&M has come full circle. In a market where every other vehicle has an SUV tag, the company plans to stick to its core competence of making rugged, true-blue, all-terrain SUVs, and marks a fresh beginning for the 75-year-old firm that enjoyed an indomitable position in the SUV segment till 2012, reports Shally Seth Mohile.
The Sensex closed down 216 points at 19,782 and the Nifty slipped 62 points at 5,851.
Indian Oil Corporation Ltd and Tata Motors Ltd have entered into a strategic alliance for initiating joint marketing activities including the setting up of Tata authorised service stations in select IOC retail outlets.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
Ex-Formula 1 team owner and Dutch supercar maker Spyker has firmed up plans to set foot in India.
In terms of stock selection, India continues to benefit from two phenomena - the big getting bigger and availability of quality stocks in relative abundance compared with its Asian peers.
The NSE Nifty ended up 19.65 points, or 0.20 per cent, at 9,788.60 after shuttling between 9,854 and 9,775.35 during the day.
The weekend curfew, aimed at breaking the chain of spiralling coronavirus infections, was clamped at 10 pm on Friday and will continue till 5 am on Monday.
Logix, a company dealing in automative e-retailing solutions, is negotiating the acquisition of a US firm.
The S-Cross is priced between Rs 803,000 and Rs 12.03 lakh and is sold through its premium retail outlet Nexa showrooms only
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank. On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.
To help them make up for the revenue lost on selling auto and cooking fuel below cost.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
Almost half of the retail price of petrol of Rs 44.63 a litre in the national capital comprises taxes and duties, Minister of State for Petroleum and Natural Gas Jitin Prasada said.
Jaguar Land Rover's global performance for the full year 2014 showed a balanced portfolio with sales up across all key regions, the company said.
When the lockdown was lifted last year, Rasikbhai Kotadiya, who runs a powerloom unit in the Kim-Pipodara industrial area on the outskirts of Surat, was left with only four workers out of the 48 that he used to employ to run his 128 looms. Though the economy had been unlocked, his textile unit, and that of thousands of others, struggled to resume operations. By the last week of May, nearly 700,000 of Surat's 1.2-1.5 million migrant workers, left high and dry with no pay during the lockdown, had returned home. In Laskana, another textile weaving hub in Surat, the powerlooms were all but silent, with only 2,000 of the total 55,000 looms churning out grey cloth at a snail's pace.
If you are bullish on the consumption theme, consider specialised mutual funds that focus on this theme. Remember that such sectoral mutual funds should not make up more than 5% to 10% of your equity portfolio.
Inflation in food articles basket was 6.99 per cent In May, 2019, down from 7.37 per cent in April. However, onion prices spiked in May with inflation at 15.89 per cent, as against (-) 3.43 per cent in April.
The JV is expected to invest Rs 2,300 crore (Rs 23 billion) in the next three years. The focus will be on retail and industrial logistics, including that of auto, auto components and other sectors. The JV plans to build 7.5 million sq ft of warehousing space in the next three years and 25 million sq ft in five years. The JV has acquired 27 acres in Pune so far and is in the final stages of buying nearly 460 acres in Mumbai, Chennai, Delhi, Bengaluru and Kolkata, among others.
Two wheeler sales dropped in the past quarter as leading banks put two wheeler finance under high risk category.
Optimistic buying in blue-chip stocks ahead of release of industrial production data for July and retail inflation for August drove stocks higher.
RIL is also more profitable than Tata Motors.
The fourth consecutive rate cut is expected to lower equated monthly instalments (EMIs) for home and auto buyers, and borrowing cost for corporate.
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
The threat of being priced out of the market by state-owned oil marketing companies has forced the private sector players to also opt for price cuts of auto fuels.
As the second wave of the Covid-19 pandemic abates, India's automakers are hopeful of a quick recovery in sales volumes, led by better rural sentiment, low interest rates, improved availability of finance and a gradual uptick in business and economic activity. In fact, companies have started to ramp up production already, encouraged by high order books and the growing preference for private transport in both rural and urban areas as a means to avoid infections. In early April, the industry had been bullish as the sales trend for March showed that the effects of the Covid-19 pandemic had been left behind. The total vehicle sales had grown by 77 per cent, albeit on a lower base, and for the past few months, sales had consistently touched 300,000 units per month.
With the O2C business outlook on the mend, the Street is also looking forward to news on RIL's proposal to sell up to 20 per cent of the O2C business to a strategic investor like Saudi Aramco.
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
Japanese auto major Nissan is recalling around 12,000 units of various models.
In the concluding article of a six-part series, Business Standard visits Ludhiana, one of the largest industrial towns in Punjab, to assess the effect of demonetisation.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
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