One sector that will be a big beneficiary of the government's rural push is the tractor space. In an interview with CNBC-TV18, Pawan Goenka, Managing Director of Mahindra and Mahindra (M&M) discussed about the growth prospects.
Watch accompanying video to know what Mahindra and Mahindra’s (M&M) Pawan Goenka has said on the newly launched premium SUV at the Auto Expo 2018.
The power sector is in focus as statements from the power minister indicate that electricity tariffs across India could rise by between 62 paise and 93 paise per kilowatt-hour during the first year of upgrading coal-fired power plants to make them desulphurised.
CNBC-TV18’s Anshu Sharma caught up with Mahindra and Mahindra’s (M&M) Pawan Goenka and asked him about what he makes of Tata Sons Chairman N Chandrasekaran's comments in an exclusive chat with CNBC-TV18 that Tata Motors will make profit of 10 lakhs per unit for the e-vehicle tender that they recently won from ESSL and if the company was looking to reduce cost.
Mahindra & Mahindra has matched the lowest bid price offered by Tata Motors under the largest auction of 10,000 electric cars held last week and will supply 150 vehicles in the first phase.
In an interview to CNBC-TV18, Vikas Gupta, ED of PG Electroplast spoke about the latest happenings in his company and sector.
The goods and services tax (GST) council, which met in Hyderabad over the weekend has raised the cess on large luxury cars to 20 percent, sports utility vehicles (SUVs) to 22 percent and mid-size sedans to 17 percent from 15 percent for each of these categories. This has now raised prospects of some types of premium vehicles getting dearer ahead of the festive season. In an interview to CNBC-TV18, Pawan Goenka, MD of Mahindra and Mahindra (M&M) spoke about the latest happenings in his company and sector.
CNBC-TV18's Ronojoy Banerjee caught up with Pawan Goenka, MD of M&M from the side-lines of the SIAM Annual Convention and asked him his views on the government's stance of wanting the auto industry to upgrade to European standards.
As Society for Indian Automobile Manufacturers (SIAM) Annual Convention starts today, CNBC-TV18 caught up with the biggest and the best voices from the auto industry. S Sandilya, Chairman of Eicher Motors and Rajan Wadhera CEO of Automotive at Mahindra and Mahindra (M&M) spoke about the key challenges faced by the industry.
M&M reported earnings on Friday. VS Parthasarathy, the CFO spoke to CNBC-TV18's Surabhi Upadhyay on the outlook for FY18.
There is a possibility that cess on sport utility vehicles (SUVs) could be increased and tax incidence could go from 43 percent to 57 percent. In an interview to CNBC-TV18, Pawan Goenka of Mahindra and Mahindra (M&M) shared his views on the same.
Mahindra and Mahindra (M&M) has lined up ambitious plans for their electric vehicles business and will set up a plant in Chakan for that segment.
Pawan Goenka did show his dissapointment on one aspect, and that was the concept of Make in India. He says that although the topic of Make In India was very hot in India two years ago, the government's enthusiasm towards this initiative seems to have died down.
Speaking to CNBC-TV-18, Bharat Madan, Group Financial Controller of leading engineering conglomerate Escorts, said that a revival was witnessed in December as tractor sales beat estimates.
While demonetisation has hit the auto industry, Mahindra & Mahindra‘s captain Pawan Goenka made no bones about the segment returning to normalcy by the end of FY17. Alluding to a positive impact of monsoon and a faster-than-expected pickup in business, Goenka said demonetisation â€œis really just a short-term effectâ€.
Decoding the auto sector‘s performance in December, Nitesh Sharma of Phillip Capital said there was a sharp hit in demand in segments where the cash component of purchases is higher. Segments such as two-wheeler and SUVs saw a higher impact, he said.
Speaking to CNBC-TV18 Richard Jerram of Bank Of Singapore said that there was a definite impact on the economy from the demonetisation.
Expect domestic business to be around 55 percent and international around 45 percent in FY18, said Ajith Rai, CMD, Suprajit Engineering.
The defence ministry has announced to award contracts for the development of future infantry combat vehicles. The ordinance factory board will go up against 5 private players in the fight for a 60,000 crore rupee contract.
In a day or two, Ministry of Defence is likely to choose companies for designing and building protoypes for infantry combat vehicles. The order size for the FICV prototypes contract is worth around Rs 60,000, reports CNBC-TV18.
Pravin Shah, President & CEO, M&M said no production days is a normal practice which an organization follows and demonetisation is not the only reason for that.
What is being done is right, and needs to be done but it is not enough and a lot more needs to be done if India has to become a manufacturing nation, says Pawan Goenka, MD of Mahindra and Mahindra.
The tax incidence will remain more or less the same under GST despite the cess, says Executive Director of M&M, Pawan Goenka. He along the management of several auto companies, discussed transitional issues on GST with Finance Minstry officials today
JBM Group expects Rs 2,000 crore revenue and 30 percent topline growth in FY17, says the company's Executive Director Nishant Arya.
Mayank Pareek, President of Passenger Vehicles Business at the automaker said that initial festive demand beginning Onam has been very good for Tata Motors. The company is on course to achieve its business plans globally, he added.