Bajaj Auto-backed Yulu, India’s largest shared electric mobility company, is eyeing international markets with its electric two-wheeler ecosystem around 2025-26. This expansion will be driven by a new product from Bajaj, alongside Yulu’s broader plans to grow its market presence and product offerings in India. The company aims to achieve profitability by 2024-25. Yulu is … Read more
Car wholesales remained strong in February as the industry races to a record 42-lakh-plus mark for first time in a financial year in 2023-24. All top players, including Maruti Suzuki, Tata Motors and Mahindra & Mahindra, despatched healthy numbers to retail outlets as industry inventory remains at moderate level of around a month of sales. … Read more
Key points related to the buyback are – 4,00,000 equity shares, representing 1.41% of the total shares would be bought back at Rs 10,000/ share i.e, Rs 4,000 crore of total consideration (excluding the associated costs and fees). Company may later decide to increase the buyback price without increasing the total consideration amount of Rs … Read more
Maruti Suzuki India expects to invest around Rs 45,000 crore to double its production capacity to 40 lakh units annually in the next eight years, company Chairman RC Bhargava said on Tuesday. The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at … Read more
Currently, such imports attract 5 per cent or 12 per cent IGST The GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levy of 22 per cent compensation cess over and above the 28 per cent GST rate, sources said. The Council is expected … Read more
Funds affiliated with Blackstone were classified as promoters and held 20.50% in the Sona Comstar before this transaction. Blackstone has now sold off this final balance 20.5% @ Rs 410/ share aggregating to Rs 4,917 cr through open market bulk deals Buyers included Foreign Institutional Investors, Sovereign Wealth Funds, Domestic Mutual Funds and Insurance. companies. … Read more
Minda Corporation has acquired 15.70% stake in Pricol through open market transactions. Shares have been acquired @ Rs 209/ share, similar to the current prevailing price. The amount spent on acquisition is Rs 400 cr Did Pricol promoters also sold any shares? Promoters held 36.53% stake in Pricol as at December 31, 2022. Of the … Read more
Tesla Inc. has reduced its electric vehicle prices in the United States and Europe, aiming to boost demand, Reuters reported. The move comes nearly one week after the luxury electric major slashed prices at its biggest international market in China. Following the news, Tesla shares were losing more than 4 percent in Frankfurt as well … Read more
Maruti has set two targets for itself – Become No. 1 in SUV by FY 24 Which would help it regain it’s 50% market share (as was the case earlier) Over the years, Maruti has lost some ground to the competitors. It was controlling almost half (50%) of the Indian passenger vehicles (cars) sales for … Read more