Tata Electronics' Rs 91,000 crore semiconductor fab in Dholera, Gujarat, in partnership with PSMC, will generate over 20,000 direct and indirect skilled jobs in the region and construction of the mega unit is expected to begin this year, according to a statement on Thursday. The planned unit - India's first commercial fab, marks Tata Electronics' entry into the global semiconductor industry. Tata Electronics said it is "proud to lead India's entry into global semiconductor fabrication".
Here are the four most eye-catching offers from some of the most prominent brands.
His transformational vision and strategic orientation played a crucial role in navigation of BMW Group India in a challenging business environment.
Expanding its presence in the automotive sector, the world's biggest steel maker ArcelorMittal has reached a preliminary agreement to acquire French major Vallourec's two steel tube-making units for an undisclosed sum.
With the automobile marking booming in India, vehicle makers are likely to set base here.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24. Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap. India's largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition.
Open order books in February breach 700,000; wait period for some models exceed a year.
The company, however, expects the direct impact of the Japanese crisis to be minimal on its business in the short-term.
In an announcement sent to the Bombay Stock Exchange, Musco said that due to the on-going economic slow down in the steel as well as automotive industry, and taking into account the slowdown in demand for the company's product, it has been decided to align the company's production plan with the expected demand.
Passenger vehicle wholesales crossed the 10-lakh mark for the first time ever in the June quarter riding on the back of robust demand for utility vehicles, industry body SIAM said on Friday. Total dispatches of passenger vehicles in the first quarter stood at 10,26,006 units, up 3 per cent as compared with 996,565 units in April-June FY24. Utility vehicle sales rose 18 per cent to 645,794 units in the first quarter as against 547,194 units in the year-ago period.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
"I took some time to explore the contours of this initiative. I don't use the term 'game-changer' too often but it's apt in this case. For me, what's much more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry," Mahindra said in a tweet.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
At least one Indian company will be among the top six carmakers that would dominate the global auto industry by 2020, a study by global consultancy firm Deloitte said.
Almost every car maker is offering either new models or face-lifted versions of existing models.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
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.
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors - used in electric and hybrid cars, drones, and communication devices - is fairly complicated, entails huge investment, and can be a cumbersome process.
The zippy power delivery, the smooth gearshifts, the spot-on gear ratios and the narrow dimensions of the car mean that they make short work of your daily commute in thick traffic.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
'In terms of incentives, if you think about it, hybrids are a 20-year-old technology.'
Identifying 10 areas that could help triple Indo-US trade by 2010, industry body Assocham has prepared a roadmap to boost trade between the two countries to over $120 billion from the current $40 billion.\n\n
Tata AutoComp Systems Ltd on Wednesday said it would acquire the business and assets of Wundsch Weidinger, a German automotive components supplier, for an undisclosed sum.
In the last couple of years, the luxury car segment has evolved significantly and demand for premium and luxury sedans and SUVs has increased rapidly.
The town houses some 1,500 small and tiny units, of which 75 per cent are engaged in manufacturing components for the automotive industry. The town houses some 1,500 small and tiny units, of which 75 per cent are engaged in manufacturing components for the automotive industry.
'Now that all the early adopters have the electric car, governments are backing down in some countries because they do not have the money to subsidise so much.'
The Indian automotive industry has the potential to reach a size of $33 to 40 billion by 2015 from the current $6.7 billion, chairman of 'CII Auto SCM India 2004,' M Lakshminarayanan, said in Chennai on Friday.
The car is powered by a 1.5-litre turbo petrol engine
Crisis in the automotive industry is not over yet, but there are increasing signs that the bottom has been reached.
The Budget 2013 will be placed in the Parliament on February 28. Though the Budget this year is expected to be exceptionally austere, the corporate honchos have dished out their wishlists.
These are the rides that are blessed with a personality that can outshine all others.
With only 11 categories, they had better be the best of the best. Here they are...
The company has purchased 43 per cent stake from its Chinese partner Shanghai Automotive Industry Corporation Group for an undisclosed sum.
In a boost to the electric vehicle boom in India, Taiwanese major Hon Hai Technology Group (aka Foxconn) is likely to set up an EV manufacturing unit in India through its subsidiary Foxtron. Amid speculation that the company may look at Tamil Nadu and probably the Ford India unit near Chennai for its new facility, sources indicate that the group was already betting big in the electric vehicle component space in India through Bharat FIH, which is already having a tie up with companies like Ola Electric and Ather. Bharat FIH currently has two manufacturing units in Tamil Nadu's Sriperumbudur that manufactures phones like Apple iPhones and Xiaomi phones.
With petrol costs going through the roof, it may not be too long before a diesel suberbike hits the Indian roads.
Indian car market is crucial for any carmaker to maintain an upper hand in automotive industry dynamics.
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
This is the case even though the benchmark index is only 5 per cent below its all-time high. The list of stocks trading at a discount primarily consists companies in the automotive, banking, oil and gas, insurance, healthcare, and metal sectors.
Ola Electric share price strategy: The meteoric rise of Ola Electric share price has left analysts and investors bewildered. Yet, they suggest investors hold on to the stock as it remains a pure "momentum" play. Since its listing on August 9, the stock has surged 92 per cent (till August 19) over its issue price of Rs 76, taking its market capitalisation to a little over Rs 63,000 crore.
