Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Economic gloom and rising ownership costs have savaged sales.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF. The government has slashed the special additional excise duty (SAED) on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) to nil from Rs 4,100 per tonne with effect from Tuesday, an official order dated May 15 said. This is the second time that the levy, which was introduced in July last year in the form of a cess to tax supernormal gains of oil producers and fuel exporters, has been cut to nil for domestically-produced oil.
This is the second straight increase in jet fuel rates in as many months.
Major domestic airlines on Wednesday said they were considering imposing a fuel surcharge and hiking air fares following the announcement of a Rs 1,600/kl rise in jet fuel prices from midnight on Wednesday.
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
While tenants can't escape the impact of rising rentals entirely, they can adopt a few strategies to reduce the impact.
Low-cost carrier Kingfisher Red will shut down in four months with the airline group chief Vijay Mallya on Wednesday saying several measures have been initiated to face financial problems caused by high interest burden and burgeoning fuel costs.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
Inflation in 'fuel and power' basket rose sharply to 11.22 per cent in May from 7.85 per cent in April as prices of domestic fuel increased in line with rising global crude oil rates.
More than 80 per cent of Indians live in districts vulnerable to climate risks. Among these, Assam, Andhra Pradesh, Maharashtra, Karnataka, and Bihar are the most vulnerable states to extreme climate events.
The increases have snapped a six fortnight trend of reduction in rates.
Maruti Suzuki India will increase the prices of its vehicles 'substantially' from next month as it looks to offset the impact of rising input costs and make provisions to update the model range to conform to stricter emission norms which kick in from April 2023. In a regulatory filing on Friday, the country's largest carmaker said it continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the automaker makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
Diesel prices for the Railways have come down from Rs 60.08 a litre in June to Rs 50.51 a litre now.
Here are some golden nuggets when it comes to creating wealth. Read them and if you find yourself saying, 'This everybody knows', cross your heart and ask yourself how many times you have forgotten these simple rules, says P V Subramanyam.
Lower crude oil costs and higher marketing margins are expected to raise the fortunes of oil marketing companies (OMCs) in the first quarter (Q1) of 2023-24 (FY24), while city gas distribution (CGD) companies could also benefit from lower spot prices of liquefied natural gas (LNG). However, in a break from the past, growth trends are expected to diverge for various segments within the broad energy sector. Analysts expect the earnings from gas production to go down for upstream national oil and gas companies such as Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) due to the introduction of the new domestic gas pricing regime on April 1. After showing steep losses over the first half of 2022-23 (FY23), the marketing margins of OMCs have steadily recovered in four months.
Budget expectations aviation sector.
Indian imports of Russian oil plunged by a record in August month-on-month (M-o-M) as discounts on the fuel shrank in tandem with rising Brent oil prices. Higher crude prices will drive inflation or hurt earnings at oil companies and India's fiscal position if such spikes are not passed on to consumers. Indian purchases of Russian crude declined by around 24 per cent in August from July to the lowest level since January, with refiners expecting volumes to drop further amid rising rates of Russian benchmark Urals grade, substantial stocks at refiners, and planned maintenance at Indian refineries, according to ship tracking data and industry officials.
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
The Centre should provide a clear regulatory pathway that it will follow so that automobile companies can plan their investments and car launches accordingly, Venkatram Mamillapalle, managing director (MD) & chief executive officer (CEO), Renault India Operations, said on Tuesday. Renault is planning to launch five cars - including a B-plus segment sport utility vehicle (SUV), a C-segment SUV and an electric vehicle (EV) - in India in the next three years, he told reporters. In early 2022, the ministry of road transport and highways had announced that cars in India would be required to have six airbags from October 1, 2022.
In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at three-year lows.
Boeing 737 MAX planes were globally grounded in March 2019, after two of these crashed within five months, raising safety concerns.
If 4,000 workers could work round the clock for the construction of the new Parliament building, then there is no reason why all infrastructure projects too cannot follow that model, asserts Dr Sudhir Bisht.
Vistara launched first flight from Hyderabad to New Delhi on Sunday.
Gotabaya Rajapaksa, ousted as the president of Sri Lanka in a popular public uprising in 2022, on Thursday hinted that India was keen on his continuation despite the growing public discontent against him at the behest of certain Western powers.
The government has cut windfall profit tax on export of diesel and ATF to their lowest while also reducing the levy on domestically-produced crude in line with softening international oil prices, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been cut to Rs 4,350 per tonne from Rs 5,050 per tonne, the order dated February 15 said. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel (ATF).
The state-run oil firms will raise jet fuel price by Rs 1,338 per kl effective midnight tonight, an Indian Oil official said on Thursday.
IOC, in the annual performance memorandum it signs with the petroleum ministry, stated that the Navratna oil companies should be granted freedom to fix retail selling price of petrol, diesel, domestic LPG and kerosene.
Bajaj Auto Ltd is close to introducing two-wheelers that will use green fuels such as compressed natural gas or liquefied petroleum gas.
An Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, is likely to meet on May 21 to decide on freeing petrol and diesel prices from government control.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
As fuel prices rise, here's a list of cars that will help you save fuel and money too!
