Mumbai: Maruti Suzuki’s continued dominance on Dalal Street as investors’ most preferred domestic automobile maker faces challenges with rival Hyundai Motor preparing for a debut on Indian bourses. The South Korean car maker’s listing in the country could weigh on the premium valuations that Maruti’s shares enjoyed over other auto companies so far, said fund … Read more
Mumbai: The ‘vroom-vroom’ of the auto engine has just got amplified by ‘views,’ ‘likes,’ and ‘notification chimes.’ The Indian passenger vehicle industry – which saw a historic 27% growth in FY23 with sales of 3.90 million vehicles, and growing since the pandemic – has floored the pedal by engaging numerous social media influencers to further … Read more
Brokerage firm Macquarie has a neutral rating on Maruti Suzuki, Axis Capital downgraded ABB India to reduce, CLSA has an underperform rating on Asian Paints and Citigroup initiated a buy on Honasa Consumer (Mamaearth). We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on Honasa Consumer: Buy| … Read more
Maruti Suzuki India on Wednesday said the Directorate of Revenue Intelligence has initiated an inquiry against it over incorrect HSN (Harmonized System of Nomenclature) code of an imported component. In a regulatory filing, Maruti Suzuki India said it has received a communication regarding the inquiry from the Directorate of Revenue Intelligence (DRI), Hyderabad Zonal Unit, … Read more
A majority of technical charts show a bullish pattern formation, suggesting Nifty could reach 22,500 if it maintains levels above 21,800. Alternatively, support is seen at 21,600 levels, according to technical analysts. They note positive setups in various stocks, including Maruti, TVS Motor, ACC, Biocon, Tata Motors, M&M,Persistent, Ambuja Cements, Adani Ports, Federal Bank, Trent, … Read more
Shares of two-wheeler major TVS Motor Company crossed Rs 1 lakh crore market capitalisation on Friday as the stock jumped over 4% to hit its fresh 52-week high of Rs 2,186 on the NSE. At 11 am, the stock’s market capitalisation stood at Rs 1.03 lakh crore. The gains come on the back of a … Read more
Automakers dispatched 393,074 units of cars, utility vehicles and vans last month, a 14% increase from a year earlier and the highest on record, as dealers restocked inventories depleted during year-end sales promotions. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), the previous record for passenger vehicle sales was 391,811 … Read more
Hyundai Motor’s planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world’s fastest growing markets and tackle the so-called “Korea discount” that suppresses the value of its business back home. Hyundai, India’s second-biggest carmaker behind Maruti Suzuki with a 15% market share, has … Read more
Passenger vehicle makers reported record-breaking sales in January, which rose 14% from a year earlier to 393,074 units as dealers restocked inventories depleted during year-end sales promotions. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales stood at 346,080 units in January 2023 and had previously peaked at … Read more
Maruti Suzuki may see some increase in costs due to the rerouting of vessels amid the ongoing Red Sea crisis, according to a senior company official. The auto major, which exported around 2.7 lakh cars last calendar year, however, noted that it does not expect the issue to have a very big impact on the … Read more
