Equity indices rebounded on Thursday after sliding for the past two sessions. The 30-share Sensex jumped 490 points to settle at 71,847 and the Nifty climbed 141 points to 21,658 points. Stocks that were in focus include names like Bajaj Auto, which fell 0.81%, Sobha, which jumped 15.8%, and Adani Ports, whose shares jumped 2.5% … Read more
With a nearly 20% rally in 2023, Nifty is overvalued by as much, according to a report by Kotak Institutional Equities. The brokerage remains wary of an absolute return potential of the market from the current levels as it replaces ITC and Larsen & Toubro (L&T) with Britannia and PSU stock NTPC from its concentrated … Read more
Sales of sports utility vehicles (SUVs) rose in December, while small car sales fell despite high discounts, data from Indian automakers showed on Monday. While entry-level vehicles remain a millstone around automobile makers’ necks, they have benefited from the sales of premium vehicles, catering to a more well-off demographic largely unaffected by inflation. Maruti Suzuki … Read more
Rajiv Bajaj, managing director of Bajaj Auto, sees the electric vehicles (EVs) business achieving profitability at a relatively lower volume threshold, on the back of pricing power, a cost competitive structure and strength of the brand. The two-wheeler manufacturer entered the fast-growing market with an electric scooter in January 2020, and followed it up with … Read more
Indian automaker Mahindra and Mahindra said on Wednesday that the company, along with external investors, will spend 8.75 billion rupees ($105 million) in its two-wheeler unit, Classic Legends, over the next two to three years. The ‘Scorpio’ car manufacturer, will invest 5.25 billion and the remaining will come from existing shareholders and new investors, Mahindra … Read more
