After a spike, losses on sale of diesel have fallen by nearly a rupee to Rs 2.49 per litre as international oil rates have moderated.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
Macroeconomic data announcement, Omicron situation and global trends will be the major driving factors for the equity market in the first week of the new year 2022, according to analysts. In what turned out to be a historic year, the Indian stock indices went past multiple milestones and the 30-share Sensex made an annual gain of 10,502.49 points or 21.99 per cent in 2021. Religare Broking Vice-President (Research) Ajit Mishra said, "This week marks the beginning of a new month and participants will be closely eyeing some crucial high-frequency data like monthly auto sales, India manufacturing PMI and India services PMI. "Besides, updates on the COVID-19 situation and performance of global markets will also be critical."
Industry estimates R-Day sales are eight times the usual for big retailers.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
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.
Apart from physical stores, the company operates 2,700 digital touch points in the form of web pages, which is gaining good traction from tier-II and III centres.
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.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
The lockdown in Maharashtra will have a catastrophic impact on April sales, as dealers will not be able to realise the potential of festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh.
In light of the recent incidents involving scooters from prominent electric mobility brands bursting into flames, the subject of electric vehicle (EV) safety has come under the spotlight. As many as 20 electric scooters of Nashik-based Jitendra EV Tech caught fire after being loaded on a transport container. While no one has been reported injured, the company said it is conducting an investigation to find the 'root cause' of the fire.
RBI policy, macro data, company earnings to decide market course this week: Experts
The Tata group is looking to make a foray into semiconductor (also known as chips) manufacturing and it has set up a business to seize the opportunity, Chairman N Chandrasekaran said on Monday. "At the Tata group, we have already pivoted into a number of new businesses like electronics manufacturing, 5G network equipment as well as semiconductors, in all probability," he said while speaking at the annual general meeting of the IMC Chamber of Commerce and Industry. Chandrasekaran said global supply chains, currently heavily dependent on China, would see a big change in a post-pandemic world with businesses shifting their reliance to other countries.
Prime ministers turning up with such frequency to launch trains is an indication of the political mileage resident in public transport. Will our railways step out of the government's shadow? After all, they are the ones manufacturing trains and running them, notes Shyam G Menon.
'Given all the linkages, the monthly registration data for new vehicles, may well be the single most accurate indicator of India's economic health,' points out Devangshu Datta.
Amid a slowdown in car sales, Maruti Suzuki India on Saturday said it will foray into the light commercial vehicles segment, 30 years after an initial plan was shelved when the company started operations.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
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.
Kerala floods take a toll on small businesses, NBFCs brace for losses
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
Bankers say loan demand was more muted this festival season than last year.
Though Hero still leads by a wide margin in annual and monthly sales, for the first time, Honda has considerably bridged the sales gap with the Pawan Munjal-led firm in April lagging only by 12,134 units
The carmaker has managed to significantly improve its product mix in the past two-three years by successfully launching sedans, utility vehicles and premium hatchbacks.
Firms are offering employees flexi hours; demand for air purifiers, masks have skyrocketed.
June indicates a change in trend from previous quarters in terms of how much companies are spending on employees. The worst hit sectors included steel, air transport service and automobile firms.
Consumers will get a list of dealers in their neighbourhood once they have made a selection of vehicles.
Passenger vehicle sales continue to drop in June; Maruti, Hyundai, Tata Motors, Toyota witness decline. Mahindra & Mahindra, however, reported a 4 per cent growth.
The auto industry expects lower taxes and interest rates from Budget 2015.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Why is the Mini the only "lifestyle" auto badge that seems to be growing and staying strong? Pavan Lall finds out.
Toyota's India unit will also source two cars manufactured by Maruti Suzuki, the Baleno and Brezza, including their hybrid variants, and in return Toyota will offer its Corolla sedan to Maruti.
Urban and rural FMCG sales growth data for the last five quarters show the latter outperformed the former consistently.
The company has a joint manufacturing facility at Oragadam set up with an investment of Rs 4,500 crore (Rs 45 billion).
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
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