'Interim Budget has ignited the entrepreneurial spirit.'
More than just a legacy brand in commercial vehicles, Ashok Leyland wants to be seen as an old brand embracing new values.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
MMFs invest in fixed-income instruments maturing in less than one year, minimising interest-rate risk.
India's biggest non-bank finance company, Bajaj Finance (BAF), is set to raise capital after a gap of four years. On October 5, the board of directors will meet to approve the fund raise by way of preferential issue and/or qualified institutional placement (QIP) subject to regulatory and shareholder approvals. The move, analysts said, comes ahead of expectations, and could be in the wake of simmering competition in the consumer lending space, especially with the launch of Jio Financial Services (Jio Fin). "While we still do not have finer details on the game-plan of Jio Financial, it has plans to initially foray into consumer and merchant lending.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
Rising from a slowdown continuing for the past several quarters, Indian automobile makers are set to launch a record number of vehicles at the 12th edition of the Auto Expo from February 5.
Retail sales of automobiles in India grew 8.31 per cent in August this year on the back of increase in registrations of vehicles across all major segments, automobile dealers' body FADA said on Thursday. As per data released by the Federation of Automobile Dealers Associations (FADA), total vehicle retail sales in the country stood at 15,21,490 units last month as compared to 14,04,704 units in August 2021. Passenger vehicles (PV) retail sales stood at 2,74,448 units as compared to 2,57,672 units in the year-ago month, a growth of 6.51 per cent.
Heralding a new era, India on Friday night launched its heaviest commercial space mission ever with its polar rocket successfully putting five British satellites into the intended orbit after a flawless takeoff.
Banks enjoyed an expansion in Net Interest Margins (or NIMs) as well as in credit demand through the 2022-23 financial year (FY23). The credit expansion was because economic growth continued to recover from the Covid-19 years, and indeed, second half GDP growth surprised on the upside. The NIM expansion was because banks raised lending rates immediately (in many cases automatically due to floaters) as the Reserve Bank of India (RBI) hiked policy rates, and only started raising deposit rates late into the fiscal.
Vishvapradhan Commercial Private Ltd, a little-known entity through which the Adani Group has launched a hostile bid for NDTV Ltd, had an annual turnover of just Rs 60,000 few years back but it gave Rs 400 crore of interest-free loans to the broadcaster in 2009, as per Sebi orders.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Domestic passenger car sales grew 2.64 per cent to 1,76,011 units in March.
The institutional portion was subscribed 143 times, the wealthy investor portion by 360 times and the retail investor portion by 24.5 times.
Drones or unmanned aircraft are being used for several purposes such as mapping, survey and commercial photography, while e-commerce giant Amazon is looking to use them for deliveries to its consumers in the US.
GM president and managing director Lowell C Paddock said the company is bullish on passenger vehicles with some commercial applications and is open to opportunities in the space.
'Through volume numbers and unit sales one can see, we are not making a loss'
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
Thotakura was selected as one of the six crew members for the mission, making him the first Indian space tourist and the second Indian to venture into space after the Indian Army's Wing Commander Rakesh Sharma in 1984.
Detailed order, to be passed on Monday, will consider green tribunal's decisions
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
'Battery electric, hydrogen fuel cell and hydrogen ICE, could be the three technologies which have the potential of being zero emission and that are what we will have to work on,'
Just a few weeks ago, the Centre has come out with the long-awaited Motor Vehicle Aggregator Guidelines, which have drawn a dismayed response from the companies concerned.
Homegrown auto major Tata Motors announced its foray into Indonesia with the setting up a wholly-owned Jakarta-based subsidiary and plans to launch its products in 2013.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
With Budget concessions in place to propel the Indian automobile industry on a green drive, manufacturers are planning electric and hybrid variants of cars and two-wheelers.
The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components and drone industry to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday. The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
India's Auto Expo is considered to be among the biggest motor shows in the world.
'Imagine what the BJP's urges would be if India's electorate awarded it truly brute majorities like the 400 plus seats the prime minister called for in the 2024 general elections?' asks Shyam G Menon.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
Forty four years after Mohammed Rafi's untimely demise on July 31, 1980, at the young age of 55, the singer's work continues to enjoy a musical afterlife on radio, television and modern streaming channels.
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
This is the third consecutive monthly slide.
Home-grown auto major Mahindra and Mahindra on Monday unveiled a new visual identity, including a brand-new logo, exclusively for its SUV portfolio, ahead of the launch of its much awaited SUV, XUV700. The new brand identity is in tune with the company's focus to be makers of sophisticated and authentic SUVs. It heralds the strategic shift across Mahindra's SUV portfolio, where we are putting the building blocks in place for a new world with a range of authentic SUVs, the company said in a release.
The company cut production of its mini cars comprising Alto, and S-Presso by 98.32 per cent at 401 units as against 23,874 units in the year-ago month.
Excise duty on small cars is cut to 8 per cent where as the tax on large- and mid-sized cars has been brought down to 20 per cent.
The five-year (2015-16 to 2020-21, or FY21) compound annual growth rate (CAGR) of the overall auto industry is now negative at 2 per cent, against 5.7-per cent growth it saw in the previous five years (from 2010-11 to 2015-16).
A major fire broke out on Thursday in a commercial multi-storey building housing a market of sarees on Puna Kumbharia road in Surat and 80 fire tenders have been rushed to the spot.
Owing to the poor market conditions and tepid sentiments, the size of the show has shrunk compared to the last edition, which took place in 2018. A majority of the two-wheeler makers, and several car and commercial vehicle makers, have opted out of this year's show, which opens for the media on Wednesday.
