'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
Seven manufacturers together post a 15% decli#8800 M&M, Ford and Honda buck trend.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Car sales likely to touch record 3-mn mark by the end of March.
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
Firms are enthused at passenger vehicle numbers but high interest rates a problem.
The push given to rooftop solar installation in the Interim Budget ties in with its high rate of adoption in Tier-II and -III cities of India. If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles. This is compared to the national average of 25 per cent, say industry sources.
China on Monday dismissed the existence of a 'median line' in the volatile Taiwan Strait after Taiwan's defence ministry said it detected a record 103 Chinese warplanes flying around the self-ruled island in a 24-hour period.
The previous best selling year was 2010 when Maruti managed to sell around 10.6 lakh (1.06 million) units.
The ICICI Prudential Life Insurance Company's net premium income in the third quarter (October - December) of the current financial year (Q3FY24) swelled by 4.9 per cent year-on-year (Y-o-Y) to touch Rs 9,929 crore. Income from investment rose 111.3 per cent Y-o-Y to touch Rs 16,315 crore. The Annual premium equivalent (APE), and new business premium (NBP) increased by 4.8 per cent Y-o-Y. Both declined 7.5 per cent and 5.6 per cent respectively, quarter-on-quarter (Q-o-Q).
Japan's Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday. The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
In 16 days, petrol price has been hiked by Rs 8.3 per litre and diesel by Rs 9.46 - a record increase in rates of the fuel in any fortnight since pricing was deregulated in April 2002.
Amid better semiconductor chip supplies, the Indian automotive industry posted an 8 percent growth in production of vehicles across categories for the month of May, with three-wheelers (20 per cent) and passenger vehicles (16 per cent) leading the pack. Exports, however, dipped 21 per cent at an industry level. The industry also recorded its highest-ever May wholesales of domestic passenger vehicles (334,802 units), riding on high demand for sport utility vehicles (SUVs) and better supplies of semiconductor chips.
The Indian services sector expanded at the strongest rate in 12 years in February supported by favourable demand conditions and new business gains, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.2 in January to 59.4 in February -- its highest level in 12 years. For the 19th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
Floodwaters of the overflowing Yamuna reached the entrance of the Supreme Court in Central Delhi on Friday as the regulator of the Delhi irrigation and flood control department at Indraprastha suffered damage on Thursday evening.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
In October, MSI recorded domestic sales of 96,002 units compared to 51,458 units in the year-ago period, registering a rise of 86.56 per cent, it added.
Car maker Maruti Suzuki India Ltd on Monday reported a 15.75 per cent jump in the total sales in May at 79,872 units as against 69,001 units in the same month last year.
The Union government's revenue from securities transaction tax (STT) is on track to exceed its Budget projection for the current fiscal year, with the mop-up already surpassing 50 per cent of the annual estimate. Provisional figures reveal that the Centre has collected approximately Rs 14,000 crore in the first half of this fiscal year up to September, according to a government official. This amount exceeds half of the full-year target of Rs 27,625 crore set for FY24.
The searches were carried out on June 14-15 at 10 premises in Prayagraj, Lucknow and Delhi, the agency said in a statement.
The sources requested anonymity because the matter is confidential. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
Car sales in India surged by 12.87 per cent in December.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
The wait for the new iPhone is over as the tech giant Apple officially launched its new iPhone 13 and iPhone 13 Pro on September 14.
The imposing monument of Sardar Vallabhbhai Patel, also called the Statue of Unity, is a major tourist attraction in the state since it was inaugurated in October 2018.
Subsidies have been stopped for several manufacturers that are under investigation for alleged violations of local-sourcing rules.
In May, MSI recorded domestic sales at 89,478 units, compared to 93,519 units in the year-ago period, registering a fall of 4.32 per cent.
'We've got a huge track record and success in bringing several biosimilars to the market.'
The US-based company, in collaboration with partners like Wistron and Foxconn, had recently started assembling iPhone 11 in India.
Going once, going twice, sold! Jewellery that belonged to Marie Antoinette, wife of King Louis XVI and arguably France's most famous queen were auctioned by Sotheby's on Wednesday as part of their "Royal jewels from the Bourbon Parma Family" event. Take a look at the gorgeous jewellery that was up for sale.
The slowdown in growth is an industry-wide trend and companies are adjusting production to bring down the inventory levels at plants as well as dealerships.
