Among the Sensex firms, ITC, Kotak Mahindra Bank, ICICI Bank, Nestle, Axis Bank, IndusInd Bank, UltraTech Cement, Bajaj Finance, Maruti and HDFC Bank were the major laggards.
Money managers have turned cautious about the technology space.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
The Mahindra KUV100 offers a young design language with lots of urban appeal at a compelling price tag.
Auto sales, particularly of two-wheelers, may not bounce back immediately and may take another two months to come back on track even as car bookings have started seeing an initial uptick. Various states started Unlock 2.0 on Monday, following a fall in the number of Covid-19 cases. Auto sales were hit in May following the impact of Covid-led lockdowns.
Schools closed for a day, crops damaged; more downpour on cards
Benchmark BSE Sensex recovered from early lows to close at a five-month high on Friday, riding on gains in banking and auto stocks ahead of the release of key inflation data. The 30-share index gained 123.38 points or 0.20 per cent to settle at 62,027.90, the highest closing level since December 12, 2022. The barometer opened lower due to early weakness in energy, power and IT stocks and touched a low of 61,578.15 in the day trade.
The variant is is aimed at fleet and travel operators thanks to its seating capacity for nine people.
The industry players couldn't hide their disappointment.
Among the Sensex firms, IndusInd Bank jumped 5.08 per cent. The other winners were Tata Motors, Bajaj Finance, Bajaj Finserv, NTPC, HCL Technologies, Mahindra & Mahindra, Axis Bank, Maruti and Kotak Mahindra Bank. Value buying in index heavyweights Reliance, HDFC Bank and ICICI Bank added to the momentum. Sun Pharma, Larsen & Toubro and Nestle were the laggards.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
Domestic macroeconomic data announcements, global trends, quarterly earnings and foreign fund trading activity would dictate terms in the equity markets this week, analysts said. Besides, movement of rupee against the US dollar and global oil benchmark Brent crude price would also guide the trading pattern in the equity markets. "From a macroeconomic perspective, market participants will be closely observing key events like the upcoming release of the US manufacturing PMI data, US services PMI data and US non-farm payrolls scheduled between August 1 and August 4.
M&M also saw its domestic passenger vehicle sales grow by 1 per cent, while Toyota Kirloskar Motor witnessed a decline in its PV sales.
The group also plans to commission 500 MW of solar power projects
Among the Sensex firms, UltraTech Cement, JSW Steel, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Infosys and Bajaj Finserv were the major gainers. On the other hand, NTPC and Tech Mahindra were the laggards.
Investors became richer by over Rs 2.27 lakh crore on Monday as equities rebounded, with the BSE Sensex rallying over 1 per cent amid continuous foreign fund inflows and upbeat global markets. The 30-share BSE Sensex jumped 709.96 points or 1.16 per cent to settle at 61,764.25. During the day, it zoomed 799.9 points or 1.31 per cent to 61,854.19. Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2,27,794.46 crore to Rs 2,76,06,443.06 crore.
By June 2009, the $6 billion Mahindra & Mahindra group will open its new $116 million automobile design and development facility called the Mahindra Research Valley spread over 150 acres in Mahindra World City in Chennai. Primarily, this R&D facility will cater to M&M's design needs, and later may consider doing similar high-end work for other OEMs.
Auto sector cheers RBI rate cut as 'festival gift'
Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches. The country's largest carmaker Maruti Suzuki India (MSI), which shut production from May 1 to May 16 so as to divert oxygen from industrial use for medical purposes, reported domestic dispatches to dealers at 35,293 units last month, down 75 per cent from 142,454 units in April. The company said sales of its mini cars, comprising Alto and S-Presso, declined by 81 per cent to 4,760 units in May as against 25,041 units in April this year.
The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said.
Elections and festival time in north India helped the Indian auto firm to pip its foreign competitors.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
UltraTech Cement was the biggest gainer in the Sensex chart, climbing 3.13 per cent, followed by Kotak Mahindra Bank, Tata Motors, Axis Bank, Maruti, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra. In contrast, Infosys, Tech Mahindra, Tata Consultancy Services, Wipro, Bharti Airtel, HCL Technologies, ICICI Bank and Nestle were among the laggards.
The Indian automobile industry had an action-packed year with big-ticket announcements such as excise duty cut for small cars, entry of German car major Volkswagen and Mahindra's tie-up with Renault.
FCA has alleged that the Roxor, which M&M imports in the US from India as knocked-down kits, was "a nearly identical copy of the iconic Jeep design", adding that the product was modelled after the original Willys Jeep.
Automobile companies are worried about challenges from electric mobility, automation and connected vehicles.
Maruti Suzuki India and Hyundai reported single-digit sales growth in July with the sports utility segment continuing to drive overall demand in the market. Mahindra & Mahindra witnessed a 29 per cent increase in passenger vehicle dispatches while Tata Motors saw a marginal increase in the wholesales last month. Maruti Suzuki on Tuesday said its total domestic passenger vehicle sales stood at 152,126 units last month as compared to 142,850 units in the year-ago month, a growth of 6 per cent.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
A record number of 85 products will be launched.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank. NSE Nifty tumbled 66.25 points to 15,748.45.
Dealer despatches will probably be a good signal of economic turnaround or further deterioration, says Devangshu Datta.
After a worrying 7 per cent fall in sales in January, Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra and Honda Siel have notched up an impressive 18.78 per cent growth in sales in February. Strong demand for the SX4 and DZire models helped Maruti Suzuki, the country's largest passenger car maker, record an impressive 19 per cent jump in sales in the domestic market, hitting a new record of 70,625 units in February.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
The car will launch on September 25
There are tweaks to the exterior and interior styling and one big updatecomes in the form of a more powerful engine from the XUV500.
The auto maker wants to cut output in the wake of low demand.
From selling 14,000 Jeeps in 1973, we slipped to selling just 7,000 vehicles within just three-and-a-half years by 1976.
India is a market for low-priced cars with low running costs. The global majors don't have models that fit the bill; only Maruti and Hyundai have successful entry-level models, observes T N Ninan.
The Mahindra Alturas G4, which was launched on Saturday in Jaipur, is a true-blue premium SUV combining a powerful engine, luxe interiors and a beast-like exterior, says Rajesh Karkera/Rediff.com.
