Top gainers in the Sensex pack included Vedanta, M&M, ONGC, Hero MotoCorp and Maruti, rising up to 3.79 per cent.
Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers. Tech Mahindra and Bajaj Finance were the laggards.
If the alliance works out as planned, it will give a big boost to Mahindra, as it has been struggling with its only car model Verito, managing to sell around 200 units a month
High lending rates, fuel prices, higher input costs and labour trouble impact profitability.
The vehicle offers a mileage of 27 km per litre and comes with a high performance 9.1 HP Kohler engine for good pickup and load carrying capacity.
Auto Expo's Twitter handle (@AEMotorShow), with a follower base of 16,000, is abuzz with activity. The Facebook page of Auto Expo has about 158,000 followers.
The Brezza is Maruti's answer to the Ford EcoSport and Mahindra TUV300 and was developed in India at a cost of Rs 860 crore.
You could be forgiven for thinking that Auto Expo was only about powerful cars and humongous bikes. There was so much else that was happening too, says Rajesh Karkera.
The plaintiffs sought to represent all dealers who entered into agreements with Global Vehicles to sell Mahindra vehicles in the United States.
Auto component makers in India are bracing for a tough time. High absenteeism among workers owing to Covid-19, shortages of critical parts, and temporary closures of plants by automobile manufacturers have thrown a spanner in the works for the Rs 3.2-trillion sector, which derives 60 per cent of its revenues from automobile original equipment manufacturers (OEMs), with the balance split equally between replacement demand and exports. Car market leader Maruti Suzuki India on Saturday said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, "keeping in view the current pandemic situation". Some activities will continue in the plants.
Mahindra 2 Wheelers may be a young entrant to the gearless scooter segment, but they are slowly establishing their credentials as a serious player with a long term view of things.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement and Bajaj Finance were the major laggards.
Loan rates may go up if interest rates go up by another 100 bps.\n
Through the newly created business vertical Happinest, MLDL will launch two such housing projects in Boisar near Mumbai and Avadi in Chennai.
The vehicle was designed and developed by the company's Chennai-based research team.
ICICI Bank was the biggest loser in the Sensex pack, slipping 2.81 per cent, followed by Mahindra & Mahindra, State Bank of India, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Tata Motors, Bajaj Finserv, Axis Bank and Power Grid. Tech Mahindra, Bharti Airtel, Infosys, Asian Paints, Hindustan Unilever, Larsen & Toubro and Titan were the gainers.
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
Despite some manufacturers giving the Expo a miss, there will still be plenty of action.
This comes at a time when Ola is looking to replicate nationally the success of its auto-rickshaw offering in Chennai and Bengaluru.
The new year has brought good news for almost all car manufacturers, with market leader Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and even Fiat, posting their highest monthly sales since their inception.
According to the Society of Indian Automobile Manufacturers, total sales of vehicles across categories registered a growth of 13.40 per cent to 13,70,786 units in May, as against 12,08,820 units in the same month last year.
Mahindra & Mahindra is in talks to buy a majority stake in Pininfarina.
Indian auto major Mahindra & Mahindra has set up a joint venture with American manufacturer Navistar International to produce and market light, medium and heavy commercial vehicles for Indian and export markets.\n\n
Say lower duties could enhance demand.
Benchmark BSE Sensex rebounded by 344 points while Nifty closed above the 16,000 level in choppy trade on Friday, snapping the four-day falling streak on renewed buying interest from foreign funds and firm global trends. The 30-share BSE barometer climbed 344.63 points or 0.65 per cent to settle at 53,760.78. During the day, it jumped 395.22 points or 0.73 per cent to 53,811.37.
Kinetic Motor Company, the Pune-based scooter-maker, which sold its business assets to Mahindra and Mahindra for Rs 110 crore (Rs 1.1 billion) on Wednesday, is now considering to get into the auto components business.
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
Auto major Mahindra & Mahindra on Monday said it will raise prices of all its products by up to Rs 8,000 with effect from October 1 due to higher raw material costs and implementation of new emission norms.
Automotive major Mahindra & Mahindra is planning to enter the US with a sports utility vehicles and pick-ups.
It's travel time for everyone, including Bollywood's celebrities.
"Mahindra Utes initially will be available only in New South wales but the dealer network will include Queensland within a month or two," importer Michael Tynan, who has been a car dealer for more than 40 years, said.
Auto major Mahindra has ambitious plans for its electric cars project, that include ramping up its output to 60,000 units a year, high-end electric powertrains, and 380 to 650 volt battery systems.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
Investors' wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79.
The company sells a range of vehicles from three-wheelers to high-end sports utility vehicles.
