Automobile dispatches from companies to dealers rose 12 per cent last year compared to 2023 on the back of positive consumer sentiments which aided robust demand for two-wheelers, industry body SIAM said on Tuesday. Total wholesales across categories rose to 2,54,98,763 units in 2024 against 228,39,130 units in 2023, a growth of 11.6 per cent.
The BJP's hyper-local campaign targeting the AAP's loyal base among the poor, along with Prime Minister Narendra Modi's depiction of Delhi's ruling party as "AAP-da" (disaster), proved decisive in the Delhi assembly elections. This victory marks the end of a 26-year drought for the BJP in the national capital. The BJP's campaign highlighted perceived failures in governance and corruption allegations against the AAP, while emphasizing its own welfare schemes. The party's focus on local issues resonated with voters, particularly the middle class and poor who were disenchanted with the AAP's performance. This win is a major setback for the AAP and the INDIA bloc, which has been on a losing streak after its strong performance in the Lok Sabha elections.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH insurance and AUTO insurance.
'The US is strongly placed to expand its crude supplies to India.'
Hero MotoCorp anticipates a big rebound in two-wheeler (2W) sales in rural India over the next four to eight quarters, driven by favourable factors such as a decent monsoon, rising crop prices, improved employment conditions, and increasing consumer confidence, its chief executive officer (CEO) Niranjan Gupta said on Wednesday. Amid tepid rural sales, he stated that there is a "strong case" for GST (goods and services tax) on entry-level two-wheelers, which are under 125 CC, to be moved down from 28 per cent to 18 per cent as they are used by "masses".
During 2023-24, while the BJP received over Rs 723 crore worth of donations from Prudent Electoral Trust, it also got over Rs 127 crore from Triumph Electoral Trust and over Rs 17 lakh from Einzigartig Electoral Trust.
ICICI Bank, Axis Bank, Infosys, M&M, Tech Mahindra, Tata Steel, SBI and Maruti were also among the gainers. On the other hand, IndusInd, TCS, Titan and Asian Paints declined.
Police have taken into a custody an autorickshaw driver in connection with the rape of a girl, who was found bleeding on a street in Madhya Pradesh's Ujjain city, and five others are also being questioned in the case, a senior official said on Thursday.
The Railway Protection Force (RPF) has detained a suspect in connection with the knife attack on actor Saif Ali Khan at Durg railway station in Chhattisgarh. The suspect was traveling by a Mumbai-Howrah train and held at Durg in the afternoon. Mumbai Police were informed about the development and their team will reach here by late evening.
However, while Splendor's annual sales surged 31.7 per cent to 3.638 million units between 2019 and 2024, Hero's other models suffered sharp drops.
'If there is Sabka Saath, then why are you only talking about Hindu-Muslim?'
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
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.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
Retail sales of automobiles in the domestic market saw a 7.73 per cent year-on-year decline in October this year at 21,17,596 units, mainly due to dip in two-wheeler uptake with the inauspicious period of Shraddh affecting new purchases, the Federation of Automobile Dealers Associations (FADA) said on Monday. Retail sales of automobiles in the domestic market stood at 22,95,099 units in October 2022, FADA said in a statement. Two-wheeler retail sales were at 15,07,756 units last month, as against 17,25,043 units in the year-ago period, down 12.60 per cent, as per the latest data by FADA.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
Automobile retail sales in India rose to a record high in November, aided by the best ever monthly performance across passenger vehicle and two-wheeler segments, dealers' body FADA said on Wednesday. The overall retail sales stood at 28,54,242 units last month, 18 per cent higher over 24,09,535 units in November 2022. Passenger vehicle (PV) retail sales rose to 3,60,431 units as compared to 3,07,550 units in the year-ago period, registering a growth of 17 per cent.
Tamil Nadu -- often dubbed as India's own Detroit due to its thriving automobile manufacturing ecosystem -- is in no mood to miss the EV bus either. Recent developments attest to it. Vietnamese electric vehicle (EV) maker VinFast has promised a $2 billion plant in the southern state. And as promised earlier, the work on Tata Motors-JLR plant will kick off next week, on September 28, after the foundation stone laying ceremony.
Tripura's Transport Minister Sushanta Chowdhury alleged that a bus on the way to Kolkata from Agartala was attacked in Bangladesh.
Among major Sensex gainers, Mahindra & Mahindra rose the most by 3.29 per cent. Adani Ports gained 1.26 per cent, Tata Motors by 1.14 per cent, and Axis Bank by 0.92 per cent. Nestle, NTPC, Reliance, ITC Titan, Kotak Bank, Infosys and TCS also gained. HCL Tech, Tech Mahindra, and ICICI Bank were the losers.
At Srinagar's famed Lal Chowk, Rediff.com's Syed Firdaus Ashraf meets a computer engineer who drives an auto for a living and discovers that Kashmiris are more interested in finding jobs than discussing the assembly election.
After a successful tie up in traditional ICE and strong hybrid models, Suzuki and Toyota are now set to take their partnership to the next level: the electric vehicle segment. Both the Japanese auto giants recently announced a plan to produce Suzuki eVX-based SUV which will be sold under Toyota brand across the globe. This electric SUV, bearing Toyota's logo, will go for production at Suzuki Motor Group (SMG) facility in Hansalpur, Gujarat beginning the spring of 2025, marking the first EV launch for both companies in India.
The Election Commission of India has announced that the Delhi Assembly elections will be held on February 5, 2023, with the counting of votes scheduled for February 8. The last date to file nominations is January 17, and the scrutiny of nominations will be done by January 18. Candidates can withdraw their nominations until January 20.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday. In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and "collapsing" software systems. Subscribers too were facing problems due to it.
Khan, 54, was "out of danger" following an emergency surgery, said the doctors at the Lilavati Hospital where he was rushed following the incident that took place around 2.30 am at his apartment in `Satguru Sharan' building.
Equity benchmark indices Sensex and Nifty on Friday reversed their six-session losing streak and rebounded more than 1 per cent on value buying in auto, IT, financial and energy stocks. Better than expected quarterly financial results of corporates also boosted investor sentiments even as uncertainties persisted over the escalating tensions in the Middle East, according to analysts. In a largely range-bound trade, the 30-share BSE Sensex rose 634.65 points or 1.01 per cent to settle at 63,782.80 points.
Aided by festive demand, domestic passenger vehicle wholesales rose marginally year-on-year to 3,93,238 units in October, industry body SIAM said on Wednesday. The overall passenger vehicle dispatches by companies to dealers stood at 3,89,714 units in October last year. Total two-wheeler sales rose 14 per cent year-on-year to 21,64,276 units last month, as compared to 18,95,799 units in October 2023, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.
Benchmark Sensex advanced 110 points in a choppy trade on Wednesday, extending its gains to the fourth day in a row helped by buying in HDFC Bank, ICICI Bank and fresh foreign fund inflows. The 30-share barometer rose by 110.58 points or 0.14 per cent to settle at 80,956.33 with 14 of its constituents ending with gains and 16 stocks with losses. During the day, it jumped 399.64 points or 0.49 per cent to 81,245.39 and dipped to a low of 80,630.53.
The BJP has released a video of Arvind Kejriwal's previous residence, calling it a "Sheeshmahal" and accusing him of corruption. The AAP has countered, accusing the BJP of running a "smear campaign" to distract from Delhi's worsening law and order situation. The controversy comes ahead of the Delhi Assembly elections.
In the Sensex pack, HCLTech rose the maximum by 3.12 per cent, followed by ITC which gained 2.73 per cent and M&M went up 2.61 per cent. TCS climbed 2.44 per cent. Tech Mahindra, Wipro, L&T and Maruti were among the other major gainers.
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Tata Indica, the Tata Group's big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the Tata Motors brass, led by Ratan Tata, acceded to a meeting request from Ford Motors for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks.
A sharp fall in the equity market made investors poorer by Rs 5.29 lakh crore on Tuesday when the BSE benchmark Sensex tumbled over 800 points. A host of negative triggers -- muted quarterly earnings, continuous foreign fund outflows and weak trends in Asian and European markets -- dragged the benchmark indices lower. The BSE benchmark gauge tumbled 820.97 points or 1.03 per cent to settle at 78,675.18.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
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