BUSINESS
Diwali bookings: Hotels run out of rooms as travellers hit the road
Hotel chains, resorts and short-haul destinations capitalise on a surge in bookings for the Diwali weekend to revise up room rates.
BUSINESS
Car buyers cancel bookings as auto companies delay Diwali deadline
While booking cancellations are normal in the automotive retail business, the level of cancellations this year is unusually high, say dealers.
BUSINESS
Auto dealer body claims Diwali 2021 is the worst in a decade
Two-wheeler demand, especially for entry level motorcycles, has taken a hit partly due to the pandemic and partly due to rising fuel prices
BUSINESS
Tata Motors may not need a managing director after all
The Mumbai-based manufacturer of luxury cars, sports utility vehicles (SUVs) and trucks is not looking for a replacement for Guenter Butschek, who stepped down from the MD’s position by the end of June 2021
BUSINESS
Tata Motors fast running out of capacity but no new factory planned
With slight improvement in the manufacturing capacity Tata Motors will move to producing half a million units, which would be the third highest in India after Maruti Suzuki and Hyundai
BUSINESS
“Ola hasn’t produced anything.” Rajiv Bajaj takes potshots at EV startups
'Picture abhi baaki hai', says Bajaj Auto managing director Rajiv Bajaj, adding that he would bet on BET (Bajaj, Enfield, and TVS).
BUSINESS
Exclusive: Maruti plans new plant after 15 years; sets aside Rs 2,200 cr for FY22 capex
The investment is part of Maruti’s 10-year, Rs 18,000 crore investment plan, which envisages annual capacity creation of 1 million units. This new plant will come up in Haryana, home to Maruti Suzuki since its birth in 1983
BUSINESS
Lumax Group looks at Rs 450 crore capex in FY22-23
Of Rs 450 crore capex that Lumax Group is looking for, about Rs 150 crore would be for building electronic competency and Rs 150 crore for brownfield capacity building. The rest would be dedicated to some joint ventures, says Deepak Jain, Chairman and MD, Lumax Industries.
BUSINESS
Indian Hotels hopes to wipe out Rs 3,571 crore debt in 18 months
The company expects to clear its debt by raising funds through a rights issue, followed by a qualified institutional placement of shares
BUSINESS
Eicher Motors: Siddhartha Lal’s reappointment as MD brings curtains to two-month long controversy
Siddhartha Lal had been in the thick of the controversy that saw proxy advisory firms raise objections
BUSINESS
Siddhartha Lal's reappointment as Eicher Motors' MD gets shareholders' approval
That apart, payment of remuneration to Siddharth Lal for a period of five years starting May 1, 2021 has also been approved.
BUSINESS
Exclusive | Pankaj Munjal’s Hero Cycles plans IPO, fundraising and acquisitions
Hero Cycles is set to buy two overseas companies as it seeks to expand its global footprint
BUSINESS
Auto dealer body appeals to Narayan Rane to get Heavy Industries Ministry to fix Ford issue
As per FADA, around 170 Ford dealers (with more than 300 dealership) have been impacted because of this sudden exit decision leading to loss of employment of around 40,000
BUSINESS
TVS Motor loses production of 25,000 Apache bikes amid chip shortages
The Apache brand of motorcycles has helped TVS become the leader in not just the 150cc to 200cc segment, but it has become the highest-selling brand in the 125cc to 200cc motorcycle segment as well
BUSINESS
TVS Motor to set up new electric vehicle company, add new EVs
TVS has lined up capex of Rs 750 crore for FY22 which is Rs 150 crore more than the Rs 600 crore planned earlier.
AUTOMOBILE
Two-wheelers line up goodies galore to revive from poor demand
Festive season sales remain tepid, dealers and retailers grapple with unsold inventories.
BUSINESS
Rains disrupt business revival of Uttarakhand, Kerala hotels
Both states put together have about 5,000 branded and unbranded hotels, including Radisson Blu, Lemon Tree, Ginger and Taj Hotels in Uttarakhand's Rudrapur, Pantnagar and Ramnagar
BUSINESS
Chetan Maini’s Sun Mobility raises $50 million from Dutch power trader for EVs
Sun Mobility will have 500 Swap Points in India by end-2022, plans to roll out products to enhance the swap experience, and firm up its share in battery-swapping space.
BUSINESS
Rains force automobile companies to shut production at Uttarakhand plants
Bajaj Auto, Tata Motors and Ashok Leyland had shut down production at their Pantnagar plants as a precautionary measure on October 19
BUSINESS
This Chinese electric scooter company will shift production base to India
DAO EVTech is laying the groundwork for the launch of its first electric two-wheelers in the Indian market as it pursues talks with the Andhra Pradesh government for a plant in Chittoor that will manufacture products for export
BUSINESS
Tata Punch launched, prices start at Rs 5.49 lakh
The Tata Punch is positioned below the Nexon and will compete against the Renault Kiger and the Nissan Magnite, which are priced at Rs 5.6 lakh
BUSINESS
Battery cost slide can offset potential subsidy withdrawal: Tata Motors on EV prices
India’s EV industry is thriving on an array of incentives provided by central and state government to promote the faster adoption of the eco-friendly vehicles
BUSINESS
Tata Motors halts passenger vehicle stake sale as EVs shift to top gear
The carmaker plans to roll out seven electric vehicles in five years after TPG decides to invest Rs 7,500 crore into the business
BUSINESS
Tata Motors offers TPG multiple exit options, including IPO, from EV arm
A TPG-led round of $1 billion will give Tata Motors’ new EV subsidiary a valuation of $9.1 billion, making it the most valuable company in the EV category in India
