Bajaj Auto, the third-largest motorcycle maker by sales, said it will disrupt the entry level domestic motorcycle market with the launch of the world’s first compressed natural gas (CNG)-run motorcycle, which it claims will halve the monthly fuel expense. Bajaj Auto is hoping this will shake up market leader Hero MotoCorp’s dominance in the entry-level … Read more
Two-wheeler maker Hero MotoCorp has received tax demand notice from the Income Tax Department for Rs 308.65 crore and interest thereon for Rs 296.22 crore for six assessment years, the company said in a stock exchange filing on Thursday. The assessment orders and demand notices are for six assessment years including FY14, FY15, FY16, FY17, … Read more
Car sales in the local market in the last financial year grew by nearly 9% to a record 4.23 million units amid improved supplies and sustained customer demand, cementing India’s position as the third largest market for passenger vehicles in the world. Around 370,000 cars, sedans and utility vehicles were sold last month, compared to … Read more
The Indian market is expected to trade higher on Monday tracking positive global cues. The Nifty future closed positive with gains of 0.72% at 22327 levels on Thursday. India VIX was up by 1.02% from 12.70 to 12.83 levels. The Nifty PCR is currently at 1.18. Meaningful call writing is witnessed across 22400-22500 strikes, while … Read more
Technical charts indicate that Nifty and Bank Nifty are currently poised for an upward trend. According to technical analysts, Nifty may ascend towards 22,800 levels, while Bank Nifty could touch 48,500 levels. Stocks such as Sun Pharma, Hero MotoCorp, Tata Steel, Britannia, Divi’s Lab, HDFC Life, PI Industries, Praj Industries, and Sona BLW have exhibited … Read more
Motorcycle and scooter sales in India likely grew in double-digits in the financial year 2023-24, crossing pre-Covid levels, buoyed by sustained revival in demand in both urban and rural markets. Industry estimates show domestic two-wheeler sales rose about 13% to 18.4-18.5 million units in FY24. Petrol-powered models comprised more than 95% of the total sales … Read more
Technical analysts continue to maintain a cautious outlook on Nifty for the truncated trading week ahead. According to analysts, profit-taking may resume until the index decisively reclaims 22,200. Some of the stocks recommended by analysts for short-term trades include Apollo Hospitals, Eicher Motors, Hero Motocorp, Maruti, Bajaj Auto, Sun Pharma, Tata Motors, ABB, Cummins India, … Read more
Niranjan Gupta, CEO, Hero MotoCorp, says: “We are focusing on brands, models, portfolios, focusing on stores, premia stores, a lot of action at our end. Effectively, given the strong platform that we have, it is about changing gears and moving with speed, powered by the four S – speed, scale, synergy and simplification.”I must say … Read more
Not only is the count of women CXOs negligible (less than 3%) across India’s top 11 automobile companies, but their salaries are also 11% lower than male counterparts, according to a Deloitte study exclusively shared with ET. These 11 automakers command more than 85% market share in the passenger vehicle, commercial vehicle and two-wheeler segments, … Read more
The electric two-wheeler (E2W) market in India saw a significant surge in registrations during February 2024, indicating a robust 24% year-on-year growth in high-speed scooters. According to data sourced from Vahan, this surge reflects the growing traction of electric vehicles in the country, with key players making strides in this evolving sector. In February, registrations … Read more
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