Car sales in the local market declined for the third straight month despite automakers offering hefty discounts to boost demand. As per industry estimates 355,000-360,000 cars, sedans and utility vehicles were sold in September, which is a decline of about 1-2.5% over 364,000 units sold in the year-ago period. PV sales dropped by 1.8% in … Read more
Godrej Capital, the financial services arm of Godrej Industries Group, is planning an initial public offering (IPO) in the next two to three years, said Manish Shah, managing director and chief executive. Speaking to ET, Shah said the non-banking financial company, which falls in the middle layer as per RBI’s scale-based regulations, also plans to … Read more
The commercial vehicles (CV) wholesale volume may witness year-on-year growth of up to 3 per cent in current fiscal year, rating agency Icra said in a report on Monday. Icra had earlier estimated 4-7 per cent decline in CV volume for FY25. The change in projection is due to better-than-expected volume growth in first four … Read more
Bank of America (BofA) bought 1.3 lakh shares of Interarch Building Products on Monday via a block deal at a cost of Rs 16.74 crore. The stock made its debut on the exchanges today and against the issue price of Rs 900, BofA bought Interarch shares at a price of 1,287.75 per share which was … Read more
PVR Inox’s stock has gained 5% in the past three trading sessions following the success of Stree 2 and on account of factors such as strong line-up of films in the coming months and timely expansion of capacity in the southern region. The stock of the country’s largest multiplex company is on a roll after … Read more
India’s top three carmakers by sales, on Thursday, reported a drop in car sales to domestic dealers in July as pent-up demand from last year began to taper off. Hyundai Motor India’s sales to dealers dropped 3.3% in July, the first decline in the fiscal year that started in April. Tata Motors’ sales slid by … Read more
Kolkata: Electric two-wheeler maker Ather Energy is hopeful of increasing its market share as it forays into the family scooter segment, a company official said on Friday. The Bengaluru-based firm has so far been manufacturing sporty scooters. “The company has now entered the family scooter segment to capture a larger share of the market. Ather … Read more
Mumbai: The Indian automobile industry grew 19 per cent to Rs 10.22 lakh crore in FY24 driven by a robust growth in the utility and sports utility vehicle (SUV) segment, a report said on Wednesday. The volume grew by 10 per cent during the year, the report by management consulting firm Primus Partners said. A … Read more
Harsh Gupta Madhusudan NSE Gift City, says FIIs have been unable to topple the Indian market and as soon as the FII headwind becomes a tailwind, that is where the real equity party in India will begin. For that to happen, it is just a matter of a few months at most because it is … Read more
A dozen out of 14 new car brands slated for launch in the next financial year will be electric as carmakers align themselves to the government’s aim of having a third of sales powered by battery electric vehicles (BEVs) by 2030. However, the new nameplates are unlikely to become a major driver in boosting overall … Read more
