Car sales in India grew 13.11 per cent to 2,11,402 units in February as customers rushed to buy vehicles fearing rise in prices post the Union Budget, to be presented this week.
Car sales in India grew 13.11 per cent to 2,11,402 units in February as customers rushed to buy vehicles fearing rise in prices post the Union Budget, to be presented this week.
CNG and piped cooking gas prices in cities such as Delhi and Mumbai may be hiked by 10-11 per cent next month as the government-dictated gas price is set to rise by about 76 per cent, ICICI Securities said in a report. The government, using rates prevalent in gas-surplus nations, fixes the price of natural gas produced by firms such as state-owned Oil and Natural Gas Corp (ONGC) from fields given to them on nomination basis, every six months. The next review is due on October 1.
The recurrent increases in fuel prices over the past 10 days are eating into the margins of transporters, who will be forced to pass on the hikes to their customers. This, in turn, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth, said transporters and analysts. Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT).
'If nominal growth improves and earnings pick up, Indian stock markets could see a rally next year.'
Bajaj Auto Ltd will soon go for an across the board price hike in order to maintain profitability and offset the impact of the education cess introduced in the Budget, said Bajaj Auto Managing Director Rajeev Bajaj.
GCMMF member daires do not rule out the possibility of price rise.
Diesel price on Monday was hiked by 25 paise per litre -- the third increase since last week -- and more rate hikes for both diesel and petrol are in the offing in the coming days as international oil prices have soared to a three-year high. The price of diesel was hiked to Rs 89.32 per litre in Delhi and to Rs 96.94 in Mumbai, according to a price notification of state-owned fuel retailers. This is the second straight day of increase in diesel prices and the third since September 24 when the state-owned oil firms ended a three-week hiatus in rates.
Honda Car India is planning to increase prices of its vehicles by up to Rs 6,000 from April to offset the impact of adverse exchange rate that has resulted in higher input costs.
The Trinamool Congress and the Communist Party of India (M) on Thursday opposed the proposed increase in the prices of LPG and other petroleum products recommended by an expert panel headed by former Planning Commission member Kirti Parikh, saying a new burden of raised prices would hit the common people hard.
Defending the government's decision to raise prices of petroleum products, the Plan panel said on Wednesday it would suck money from the system and ease inflationary pressure in the long run.
Skoda Auto India is planning to increase prices of its premium cars in January 2005 on account of increase in input costs and for complying with the Euro-III norms.
Luxury carmaker Mercedes-Benz India on Thursday said it will increase prices of its vehicles ranging between Rs 2 lakh to Rs 12 lakh across different models from April 1, to offset rising input costs specially the adverse impact of foreign exchange. This will be the second time in three months that the company is increasing prices of its vehicles. The ex-showroom price of the company's model range will increase by up to 5 per cent from April 1, 2023, the company said.
The Union Cabinet in June decided to price all domestically produced natural gas at an average of the price prevailing at international gas trading hubs and the actual cost of importing liquid gas.
The January-March quarter (Q4) results for 2024-25 (FY25) from the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.
The October-December quarter (Q3FY25) results of fast moving consumer goods (FMCG) major Hindustan Unilever (HUL) indicated weak demand, with urban growth muted and rural showing recovery. Consolidated revenue grew by 1.6 per cent (volume was flat) to Rs 15,818 crore, due to price hikes. Prices of key raw materials such as palm oil and tea remained elevated, leading to compression of gross margin.
Mahindra & Mahindra Ltd has raised the prices of its sports utility vehicle Scorpio by Rs 6,500 and that of its multi-utility Bolero by Rs 4,500, effective March 15.
The official said the price hike was on account of an increase in input costs, adding that the revised steel prices were effective from January 1.
Or will he just repeat what we all know on the new GST rates - worked out under desperation and which become effective tomorrow?" Congress leader Jairam Ramesh said.
Inflation rose to 4.27 per cent for the week ended June 30 as compared to 4.13 per cent in the previous week mainly due to increase in prices of food articles and some manufactured items.
Ford India will increase the price of its entry-level sedan Ikon by up to 1.5 per cent from April as it looks to offset rising component import bills due to rupee depreciation.
The finance ministry has advocated an increase in auto and cooking fuel prices only after the Budget is tabled in Parliament on February 26 in an effort to avert possible united protests from the United Progressive Alliance's non-Congress allies and opposition parties ahead of a busy opening week of Parliament.
The government will decide on increasing petrol, diesel, LPG and kerosene prices within the next 24-48 hours.
BJP deputy leader in Rajya Sabha S S Ahluwalia said the main aim of the opposition was to register its protest against the 'anti-people' policies of the government.
Experts say Indian Railways must grow its share in the freight market to remain financially sustainable.
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
India's move to raise the price of subsidised diesel should help with its plans to sell shares in state companies, including Oil India Ltd, to help bridge the government's fiscal deficit and gives a boost to private oil refiners looking to enter the market for bulk diesel sales.
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
Reserve Bank will "wait and watch" the evolving situation before deciding on any further rate cut, Governor Sanjay Malhotra has said as he emphasised that both growth and price stability are equally important. With inflation on a downward trend, the RBI's Monetary Policy Committee (MPC) has been reducing the benchmark repo rate and has adopted a neutral stance, which also gives the flexibility to either cut or hike the rate going forward. The central bank has cummulatively reduced the repo rate by 100 basis points since February.
The government ruled out any major jump in petrol and diesel prices after the elections, but said a review to bring the domestic prices in line with the raw material cost will be done by the new government.
General Motors India on Tuesday increased vehicle prices by up to Rs 61,000 in order to partially offset the impact of rising input costs and expiry of reduced excise duty concessions.
The stocks of diagnostic service providers have been standout performers within the healthcare sector over the past year, posting returns between 16 and 80 per cent. In comparison, the Nifty 50 saw returns of 8 per cent. Stable pricing, expectations of gradual volume growth, and market share expansion for the larger players have stoked increased optimism for listed companies.
Japanese car major Nissan on Tuesday said will hike the prices of its vehicles, including hatchback Micra and sports utility vehicle Terrano in India, by up to 4 per cent from next month in order to offset the impact of rupee depreciation and escalating input costs.
The government will continue the policy of equitable burden sharing between the state, oil companies and consumers for absorbing the impact of the upward spiral in global oil prices.
Petrol price has been hiked by Rs 1.63 per litre, excluding VAT, with effect from midnight tonight.
Raise diesel prices or else face a situation similar to the recent grid failure which led to complete blackout across 20 states for hours, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.
The meeting of the group of ministers on fuel prices scheduled for Saturday has been put off, even as the core group of UPA alliance is likely to meet on Monday morning and may discuss the issue. External Affairs Minister Pranab Mukherjee, who heads the GoM on fuel prices, had on January 17 indicated a meeting at 1700 hours today for re-convening the inconclusive GoM meet of that day.
Union Minister Nityanand Rai launched a scathing attack on Congress, stating that the party takes "pleasure" in insulting Bihar and its people.
Since February 2025, the RBI has reduced the policy rate by 100 basis points. In its previous policy review in June, it had trimmed the repo rate by 50 basis points to 5.5 per cent.
Petrol price will go up Rs 3.73 a litre if the domestic prices are aligned with international rates.
