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Ola to develop electric auto-rickshaws for India, looks at partnerships

4h business-standard
Ride-hailing firm Ola has roped in a former executive of Bajaj Auto to lead a team that will design and develop electric vehicles (EVs), including cars and auto-rickshaws, as it pursues the dream of its largest investor Softbank’s Masayoshi Son to have over one million EVs on Indian roads. Chinam Netaji Patro, who drove the research and development (R&D) of electrical and electronics at Bajaj Auto, joined Ola last month as its senior director for EVs. (3-0)

Over 92 large companies can pay additional dividends worth Rs 340 bn: IiAS

2018-01-18 business-standard
As many as 92 large companies which sit on a mount of cash, can pay out additional dividends to the tune of Rs 340 billion for the past financial year when these firms had muted earnings growth, says a report. These 92 companies, drawn from the BSE 500 index whose members are sitting on a whopping Rs 1.85 trillion in aggregate cash/cash equivalents, have already paid Rs 407 billion in dividends in 2016-17 but can pay Rs 340 billion more, says proxy advisory firm IiAS. (4-0)

Spread too thin? Fewer businesses might make M&M a better conglomerate

2018-01-18 business-standard
When Mahindra & Mahindra (M&M) took the call in 2008 to acquire a two-wheeler business being sold by Kinetic Motor for Rs 1.4 billion, the consensus was that the company, known for its tractors and rugged sports utility vehicles (SUVs), could leverage distribution and brand equity to crack a booming motorcycle market. (4-0)

Bajaj Auto rises 1%; Axis Capital upgrades to buy, target raises to Rs 3,905

2018-01-18 moneycontrol
Shares of Bajaj Auto rose 1.3 percent intraday Thursday as broking house Axis Capital upgraded the stock to buy from hold rating and also raised target price from Rs 3,503 to Rs 3,905 per share. (3-0)

Sensex hits another peak of 35,476.70; Nifty at 10,887.10

2018-01-18 freepressjournal.in
Mumbai: The BSE Sensex continued its record-setting spree for a second day, scaling a new high of35,476.70 in opening trade today as banking stocks led rally on sustained foreign fund inflows. Also, the broader NSE Nifty zoomed to a new high of10,887.10. The 30-share index rallied by 394.88 points, or 1.12 percent, to hit the peak of 35,476.70, breaching its previous intra-day high of 35,118.61 hit yesterday. (22-0)

Sensex advances 70 pts in volatile trade; IT stocks gain

2018-01-17 freepressjournal.in
Mumbai: The benchmark BSE Sensex recovered 70 points in opening trade today on gains in IT, banking and auto stocks despite weak Asian cues. (32-0)

Closing Bell: Sensex ends over 70 points lower, Nifty at 10,700; midcaps correct

2018-01-16 moneycontrol
3:30 pm Market at Close: Benchmark indices ended the session on a negative note, with the Sensex ending over 70 points lower. (23-0)

Market Live: Sensex, Nifty continue to be rangebound; PSU banks, metals correct

2018-01-16 moneycontrol
2:45 pm Market Check: The market is trading rangebound, with the Sensex and Nifty trading around 34,800 and 10,700 levels. Weak rupee and rising bond yields has weighed on indices. But the currency’s weakness has pushed up IT stocks. Infosys and Wipro are the top gainers on both indices. Midcaps, PSU banks and auto stocks have seen a correction. (23-0)

Market Live: Sensex trades in the green, Nifty hovers around 10,750

2018-01-16 moneycontrol
1:08 pm Market Check: Market has turned choppy in the afternoon trade, with the Sensex trading around 20 points lower. The Nifty is trading just above 10,700. (23-0)

Believe it or not! Rural India’s bad roads are giving 100cc bikes a smooth ride

2018-01-16 moneycontrol
Pothole-ridden, back-breaking roads are a nuisance for riders, commuters and civic bodies alike. The nightmare, however, has become a lifeline for and is sprucing up sales if 100cc geared motorcycles — a segment the auto industry had written off owing to dipping sales. (4-0)

Market Live: Sensex trims some gains, Nifty hovers around 10,750; midcaps weak

2018-01-16 moneycontrol
The Sensex is up 55.50 points or 0.16% at 34899.01, and the Nifty up 11.80 points or 0.11% at 10753.30. The market breadth favours the declines as 1070 shares advanced, while 1183 shares have declined, and around 238 shares are unchanged. (12-0)

Auto firms seen reporting strong revenue in Q3 but margins may remain under pressure

2018-01-15 livemint
Mumbai/New Delhi: Automobile manufacturers are expected to report strong revenue and profit growth in the third quarter of the current fiscal year, boosted partly by the favourable effect of a low base in the year earlier quarter when demonetization was announced. (10-0)

Companies give Auto Expo a miss this year as costs run high

2018-01-15 moneycontrol
Society of Indian Automobile Manufacturers (SIAM), the organisers for the week-long extravaganza Auto Expo starting next month, say that increasing non-participation of companies is a result of their own high costs and not because of stall rates charged from them. (3-0)

Auto Expo 2018: Big brands opt out; is the biennial show losing its mojo?

2018-01-15 business-standard
India's largest automotive show, and one of the largest in the world, the '2018 Auto Expo: The Motor Show' has seen subdued interest from original equipment manufacturers (OEMs) of late -- some major names have also opted out of the show this year. While all seemed to agree that it was indeed a great show and in a diverse market like India the Auto Expo was definitely the place to be to make a mark, players felt the mind-share or the return on investment was not high given the growing costs. (3-0)

In Q3, auto sector to report robust topline growth but low margins: Report

2018-01-14 business-standard
Though auto companies are set for better revenue growth in the December quarter, primarily boosted by pick-up in rural demand and low-base effect due to the note ban impact, higher input costs and year-end offers would crimp their margins, says a report. Most auto companies and ancillaries are likely to report double-digit revenue growth of 14-51 per cent during the third quarter, says a weekend report by HDFC Securities. (8-0)