Apple will source the majority of the iPhone sold in the US from India in the June quarter while China will produce the vast majority of the devices for other markets amid uncertainty over tax tariffs, a top official said on Friday.
Stock investors will track the ongoing conflict between Iran and Israel, Brent crude oil prices, inflation data and the US Fed interest rate decision for further cues this week, analysts said. Tariff-related news would also dictate trends in the equity market, experts noted.
The growth was primarily driven by domestic investments, which accounted for 60 per cent of the total inflows during the first quarter of the financial year.
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-run average.
Hero MotoCorp Ltd (HMCL) has been the best-performing auto stock over the last three months, gaining over 17 per cent during this period. Multiple tailwinds, especially on the rural front, are expected to boost its volumes. In addition to the demand drivers, new launches too should help drive growth both in the commuter and premium motorcycle categories.
The interplay between domestic and foreign capital will shape India's equity markets.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
Apple's high-octane racing film "F1: The Movie" roared to the top of the U.S. and Canadian box office this weekend, fueled by star-power and a finely-tuned marketing campaign
Passenger vehicle wholesales in India rose 29 per cent to 291,113 units in October aided by robust demand in the festive season, the Society of Indian Automobile Manufacturers (SIAM) said on Friday. Total passenger vehicle dispatches from companies to dealers were 226,353 units in October 2021. Total two-wheeler dispatches last month increased 2 per cent to 15,77,694 units as compared to October 2021.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
Ola Electric, India's largest electric vehicle company, has achieved a significant milestone by becoming the first two-wheeler automotive electric vehicle (EV) manufacturer in India to receive incentives under the Production Linked Incentive (PLI) Scheme for Automotive and Auto Component (PLI-Auto Scheme). The company has been granted a total incentive of Rs 73.74 crore for the Determined Sales Value of FY 2023-24 under the scheme, according to a stock exchange filing by the company.
However, sales of mini segment cars, including Alto and WagonR, declined 7.9 per cent to 25,524 units from 27,712 in the year-ago month
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
N Chandrasekaran, chairman of Tata Consumer Products, has said in the company's annual report for FY25 that India remains one of the bright spots of economic growth amid a volatile global environment. He said India's long-term growth was underpinned by strong demographic and economic fundamentals as well as structural reforms.
Domestic passenger vehicle wholesales rose 14 per cent year-on-year to 393,074 units last month, the best-ever figure for January, amid robust demand for utility vehicles, industry body SIAM said on Wednesday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicle from manufacturers to dealers stood at 346,080 units in January 2023.
Sales of commercial vehicles were down by 13 per cent to 62,786 units from 72,166 units in the same period in 2011, Society of Indian Automobile Manufacturers said.
Sales of commercial vehicles were up 12.73%.
Sales of commercial vehicles were up 7.58 per cent to 52,198 units in August, SIAM said.
For FY26, the company has adopted a cautious outlook, anticipating domestic growth to broadly track the industry's low single-digit estimated growth amid ongoing economic headwinds.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
Maruti Suzuki posted a marginal increase in January and the likes of Hyundai, Ford and Mahindra & Mahindra reporting a single-digit growth.
Office space owners are looking at good times ahead as rentals are expected to rise due to demand for Grade A office spaces outpacing supply that has been sluggish due to construction delays, long gestation periods and developers' interests shifting to residential.
The US Fed interest rate decision, global trends, tariff-related developments and trading activity of foreign investors will drive the equity market movement this week, analysts said. Among macroeconomic data announcement, WPI inflation for February is scheduled to be announced on Monday.
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
Sales of commercial vehicles grew by 22.62 per cent to 64,248 units in the month under review from 52,394 units in the year-ago period, SIAM said.
Maruti's sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno went up by 9.9% to 45,579 units
Even as New Delhi turns up the heat on Turkish firms over Ankara's public embrace of Islamabad, Indian companies rooted in Trkiye are staying put. Mahindra & Mahindra (M&M), Dabur India, and Jubilant FoodWorks say it's business as usual, with no plans to alter course despite the geopolitical chill.
India's services sector activity eased slightly in March, weighed down by a marginal slowdown in sales amid softer demand conditions and easing inflationary pressures, a monthly survey said on Friday. The seasonally adjusted HSBC India Services PMI Business Activity Index fell from February's reading of 59.0 to 58.5 in March, but remained above its long-run average of 54.2.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Passenger vehicle market leaders Maruti Suzuki and Hyundai on Saturday reported a decline in wholesales in December 2021, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, amid semiconductor shortage continuing to impact production. Other manufacturers Nissan and Skoda also reported an increase in December 2021 sales although Honda Cars India witnessed a decline last month. The country's largest carmaker Maruti Suzuki India (MSI) reported a 4 per cent fall in wholesales to 153,149 units in December 2021 as against 160,226 units a year ago.
Inflows into equity mutual fund (MF) schemes declined in May, logging their lowest tally in 13 months at Rs 19,013 crore. It came even as the gross systematic investment plan (SIP) inflows surged to a record high of Rs 26,688 crore.
Domestic passenger car sales grew 2.64 per cent to 1,76,011 units in March.
'...the auto industry to get back to 7% to 8% annual growth.' 'High growth in the SUV segment alone will not achieve this, as it is a small market.'
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Valuations at current levels have historically corresponded single-digit returns.
The Securities and Exchange Board of India (Sebi) on Wednesday announced a slew of measures to ease the compliance burden in the stock markets ecosystem, encourage more companies to list on the bourses after reverse flipping to India, and facilitate greater foreign fund flows into government bonds.
Japan Airlines (JAL) announced on Thursday that its network had been targeted by a cyberattack, leading to delays of up to an hour for at least 14 domestic flights and disruptions to some international flights as well, Kyodo News reported.
