Auto giant Bajaj Auto has landed in trouble for its "misleading and deceptive" advertisements as a consumer court has asked it to compensate a scooter owner who was lured into buying the vehicle due to the company's allegedly false claims on its mileage.Holding the auto-major guilty of causing "mental agony and harassment," Justice Kapoor directed the company to pay Rs 15,000 to New Delhi resident Karan Pal Singh, whose four-stroke scooter gave him an average of 34 km a litre
The fight between TVS and Bajaj might remain out of court, but TVS Motor's stand spoke of the company's resolve infused by its chairman Venu Srinivasan.
Several companies, including Tata Motors and Bajaj Auto, which are setting up units in Uttarakhand, want to buy more land amid reports that plots comprising an area of 300 acres are still lying vacant in the key industrial estates of Haridwar.
Top gainers in the Sensex pack include SBI, Yes Bank, Tata Motors, L&T, ICICI Bank, IndusInd Bank, ONGC, Maruti, M&M, Axis Bank, RIL, Hero MotoCorp, HDFC, Vedanta, Asian Paints, Tata Steel and Bajaj Finance, rising up to 7 per cent.
The duty for two-wheelers and small cars has been brought down to 12 per cent in the Budget proposals, a move, two-wheeler manufacturers feel, would lead to unfair competition. "The excise duty on two-wheelers and three-wheelers should be brought down to 8 per cent," Chairman of Bajaj Auto Rahul Bajaj said.
Bajaj Auto had accused TVS Motor of infringing its patent on DTS-i -- acronym for Digital Twin Spark Plug ignition -- in TVS Flame. TVS, in its latest 125 cc motorcycle Flame, uses CCVTi technology which Bajaj claims to be a copy of its DTS-i technology. The Pune-based two-wheeler maker uses DTS-i technology in various products including the Pulsar series of bikes.
A majority of CEOs from top Indian companies including ICICI Bank, Bajaj Auto, TVS Motor GE India, and HUL, do not foresee any production slowdown in this fiscal, even as rising input and interest costs are affecting the net profit margins, a CII survey has found.
India's four-wheeler sector may post a flat profit growth in the first quarter due to a rise in input costs. The cost of automobile steel, which constitutes about 40 per cent of the total raw materials, rose by more than 25 per cent during the three-month period. Prices of raw materials like aluminium, copper, rubber and fuel also appreciated significantly.
Consumer sentiments have been dampened due to several factors like tight liquidity, high insurance, and high costs
The total dividend income for seven firms grows 25%.
Carlos Ghosn, the iconic CEO of Nissan Motors and Renault, is on a whistle-stop visit to India on Monday to finalise a joint venture and small-car blue-print with India's second-largest two-wheeler maker Bajaj Auto. Renault, Nissan and M&M also have a three-way equity tie-up to make passenger vehicles in Chennai, for which the facility is yet to be built.
Shishir, Rahul factions dissent over all-important chairmanship.
Bajaj Auto Chairman Rahul Bajaj said on Monday there was no intention to oust Shishir Bajaj from Bajaj Hindusthan, as alleged by his nephew Kushagra Bajaj, CEO of Bajaj Hindusthan.
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
The stand-off between Bajaj Auto and TVS Motor Co over the alleged patent infringement continues with both the companies sticking to their positions.
Although the revocation application was filed in August, it takes time for the Apellate Board to send notices and hence, TVS took upon itself to inform BAL about the same.
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Scooters such as those from Kinetic Motors had become gearless by then and were no more family rides, but peppier individual modes of transport.
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
Two wheeler sales dropped in the past quarter as leading banks put two wheeler finance under high risk category.
Domestic passenger car sales in June grew by 16.36 per cent at 94,002 units as against 80,784 units in the same month a year ago.
Index majors NTPC, BHEL, Reliance Reliance Energy, Reliance Communications and HDFC, DLF, TCS, SBI and Bajaj Auto have zoomed.
Auto analysts suggest that Tata Motors may not be able to generate more than three to four per cent on net profit margins and five to six per cent on EBIDTA margins on the car. In addition, while production of the model is ramped up, sales will also have to rise in tandem.
While the investors have lost a whopping Rs 6,63,975 crore (Rs 6,639.75 billion) in just one trading session from market cap of Rs 66,17,501.33 crore (Rs 66,175.01 billion) on Friday last week. The investors had lost over 5,21,310 crore (Rs 5,213.1 billion) in the five trading sessions last week.
TVS was represented in court by K Parasaran, Mukul Rohtagi and Dushyant Dave, among others. C A Sundaram appeared for BAL.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
Now, sources in Bajaj Auto have confirmed that it is expected to offer a sneak preview of its small car, priced at roughly Rs 1.17 lakh, at the Expo. The country's second largest two-wheeler company had announced a tie-up with Renault and Nissan in October to develop an ultra-low cost small car for India.
Shareholders of the world's fourth largest two-wheeler manufacturer, Bajaj Auto, have long hoped that some of the cash on the company's balance sheet would be returned to them in some form.
Buoyed by staggering sales of Tata's Ace, the one-tonne mini-truck launched mid-2005, Mahindra & Mahindra, Ashok Leyland Ltd, Bajaj Auto Ltd, Piaggio and Hyundai
The ongoing credit squeeze in the sluggish two- and three-wheeler markets may affect the March sales targets of the three leading domestic players in the country. Taking the cue from a buoyant FY07 where the two-wheeler industry grew by a healthy 11.42 per cent, companies such as Hero Honda, TVS Motors and Bajaj Auto were hoping to surpass the FY07 target of 7.8 million units this year.
Bajaj Auto, BHEL, Infosys, ITC and RIL are among the 12 listed Indian companies which have figured in the latest list of 'Fabulous 50' of prestigious international magazine Forbes Asia.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
Thirty stocks from various sectors form the Sensex.
Tata Motors is hot on Renault's heels in a drive to produce and distribute the world's most affordable car in the fast-growing India market.
NTPC was the biggest loser in the Sensex pack, tumbling 2.25 per cent, followed by Tata Motors, Bharti Airtel, PowerGrid, HDFC, Reliance Industries, Hero MotoCorp and M&M that shed up to 1.85 per cent.
Bajaj Auto, which commands a market share of 26.70 per cent following Hero Honda (the country's largest two-wheeler maker), has decided to launch a bike in the executive segment (125cc) in the second quarter of the current financial year.
Bangalore-based TVS Motor Co has filed a Rs 250-crore (Rs 2.5-billion) defamation suit against Bajaj Auto Ltd in the Bombay high court, against the latter's allegation of patent infringement. Earlier, BAL alleged that TVS had copied its patented DTS-i (Digital Twin Spark plug ignition) technology in the 125 cc TVS Flame, slated to be launched in December this year.
The price war in the motorcycle market is all set to worsen with large production capacities at tax-free locations in the north ready to go on stream.
Honda Motorcycle and Scooter India (HMSI), Suzuki Motorcycle India (SMI) and Yamaha Motor India (YMI) are building motorcycles and scooters to suit the Indian market. The models will be manufactured at the company's research and development centres in Japan and will use new platforms.
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