Business

16 Jun

The Maruti Suzuki Alto Has Been India’s Best Selling Car For 16 Years

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The Maruti Suzuki Alto has been a strong seller for the company ever since it's launch. It's now the best-selling car for the past 16 years in a row. Launched in September 2000, the Alto was popular amongst those who wanted a new car and one that was affordable too. The Alto's legacy spans across two decades and it's been India's bestselling car since 2004. When it was launched in 2000, the Alto was seen as a premium offering, as in many ways it was a replacement for the very popular Zen. True to Maruti Suzuki's India strategy though, the…

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16 Jun

Tata Motors posts Rs 9,900 crore loss

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The huge dip comes as revenue takes a beating because of the spread of coronavirus and the subsequent lockdown globally The Covid-19 pandemic has hit Tata Motors hard with the auto maker posting higher losses than anticipated by the Street for the quarter ended March 31, 2020. Consolidated losses at Tata Motors during the period came in at Rs 9,894.25 crore against a net profit of Rs 1,117.48 crore in the same period of the previous year. Analysts had expected the company to record a loss of Rs 2,000 crore for the quarter. The huge loss came as revenues took…

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15 Jun

Maruti Suzuki Alto: Undisputed bestseller

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New Delhi/ Mumbai/ Durgapur/ Siliguri/ Silchar, June 2020: For 16 years in a row, Maruti Suzuki Alto has been crowned India’s best-selling car.  Alto has consistently remained the preferred choice of first time car buyers. The Alto’s winning proposition is its unique blend of compact modern design, easy manoeuvrability, high fuel efficiency and upgraded safety and comfort features. The convenient functional aspect of the Alto, coupled with stylish looks backed by Maruti Suzuki’s trust and reliability, makes the all new Alto a very attractive proposition for the Indian customer. Launched in September 2000, Alto witnessed a consistent rise in popularity…

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14 Jun

Rising Fuel Prices , Amid Pandemic.

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News on fuel price hikes, with its regularity, have almost become a permanent fixture , with prices being hiked on seven consecutive days now. Amid the pandemic-induced slowdown, wage cuts and job losses, these daily hikes have come as a major blow for many, across various strata of society. The issue has taken a political turn, with Transport Minister A.K.Saseendran writing a letter to the Union Petroleum Minister marking the State’s protest against the daily increase amid the pandemic. He requested the Minister to direct the petroleum companies to reduce the prices in line with the fall in global crude…

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14 Jun

Tata Motors Purchases 50% Share Of Jayem Automotives

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Tata Motors today announced that it has signed an agreement to purchase the 50 per cent shareholding of Jayem Automotives in JT Special Vehicles Pvt. Ltd. (JTSV). Further to this announcement, JTSV will become a wholly owned subsidiary of Tata Motors, following the completion of the procedural requirements. This does mean that cars under the JTP brand will no longer be sold in India.  JTSV was formed in 2017 as a 50:50 joint venture between Tata Motors Ltd. and Jayem Automotives to develop high performance versions of the company's passenger cars under the 'JTP' brand. The company then launched the Tiago…

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13 Jun

Mahindra & Mahindra loss at Rs 3255 crore

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Mahindra & Mahindra (M&M) on Friday reported a consolidated net loss of Rs 3,255.02 crore for the quarter ended on March 31, 2020. The company, along with Mahindra Vehicle Manufacturers Ltd, had posted a net profit of Rs 969.25 crore a year ago. “The results were affected due to the lower industry volumes in both the automotive and tractor segments, transition to BS-VI and the abrupt lockdown due to the Covid-19 situation,” M&M said. The company sold 86,351 vehicles in the fourth quarter, down 47 per cent from 1,63,937 units a year ago. For the 2019-20 fiscal, the net profit…

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12 Jun

Mukesh Ambani’s Jio May Add Saudi

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12 June, 2020: The Saudi sovereign wealth fund and General Atlantic are among firms exploring investments in billionaire Mukesh Ambani's digital business, as Asia's richest man seeks to expand his operations outside oil and petrochemicals, people with knowledge of the matter said. Saudi Arabia's $320 billion Public Investment Fund is considering buying a minority stake in Reliance Industries Ltd.'s Jio Platforms unit, according to the people, who asked not to be identified as the information is private. General Atlantic, the U.S. investment firm that helped fund Airbnb Inc. and Uber Technologies Inc., is discussing a potential investment of about $850…

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12 Jun

SBI Relaunches Facility To Open Account Online

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State Bank of India (SBI) on Friday relaunched its facility to open a savings account in the bank online. Named 'SBI Insta Saving Bank Account', the country's largest lender is offering the facility to its customers to open the account through its app - YONO. In a release, SBI said that the new service will be completely paperless and customers would only need PAN and Aadhaar number. The account holders will also be issued an ATM-cum-debit card upon opening the account. In order to open an account via this process, customers need to download the YONO app, enter their PAN…

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12 Jun

Netflix In Talks To Source Indian Content From Reliance Affiliate Viacom18

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 June 12, 2020: US video streaming company Netflix is in talks with Viacom18, part of the Indian conglomerate Reliance Industries' media unit Network18, about a multi-year partnership to source content, three sources told Reuters, in a move that would expand a relationship between the two sides. Under the partnership, Network18 affiliates - which include its joint venture with ViacomCBS, Viacom18 - would create shows for Netflix to help the US firm expand offerings in India, where it competes against the video streaming services of Amazon.com Inc and Walt Disney Co. A Netflix spokesman in India denied the company was in…

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12 Jun

Home Loans Cheaper From Today

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12 June, 2020: The country's biggest mortgage lender Housing Development Finance Corporation (HDFC) on Friday cut its retail prime lending rate (RPLR)  by 20 basis points, or 0.2 per cent. The move is in line with other lenders in the sector, led by State Bank of India (SBI). According to news agency PTI, new rates will now range between 7.65-7.95 per cent. In a filing to the exchanges, HDFC said that the reduction in RPLR, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, will come into effect from 12 June. The filing also said that the move will…

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