India Inc has witnessed attrition rates of as high as 21 per cent during the three months ending September on account of improving job scenario, says a survey. It is likely rise further in the coming months, according a survey by recruitment platform MyHiringClub.com.
Vinod Dasari, MD of Ashok Leyland believes the commercial vehicle market is indeed quite difficult now. According to him, even the mining industry is not seeing recovery and infrastructure projects have almost come to a halt. All these are impacting the economy and the market as a whole, opined Dasari.
Stock-analyst SP Tulsian of sptulsian.com explains to CNBC-TV18 that he is not hopeful that finance minister P Chidambaram will implement any initiative that will have a positive impact on the market and the economy.
Stock markets are likely to see high volatility in this 'action-packed' week in view of RBI's monetary policy review and the ongoing corporate earnings, experts have said.
The Centre for Monitoring Indian Economy (CMIE) has lowered its automobile production forecast by a per centage point to 9.6% for this fiscal on account of a persistent higher interest rate regime, hike in taxes and the resultant increase in vehicle prices.
Automobile industry body SIAM today said Oil Minister S Jaipal Reddy's proposal of additional taxes of up to Rs 2.55 lakh on diesel vehicles should not be taken up without the approval of heavy industries ministry.
General Motors India today said its sales declined by 27.01 per cent at 6,079 units during May this year. The company had sold 8,329 units in the same month of 2011.
The automobile industry is now working on the country's first formal recall policy, reports CNBC-TV18. This policy which would be on the voluntary lines, would seek to institutionalise the system of recalls.
PINC Research has come out with its report on automobile monthly sales. The research firm believes demand for petrol vehicles would remain subdued in FY13 too and growth would be largely driven by the diesel variants.
Shares of Mahindra & Mahindra and Tata Motors rose 1% in morning trade on Monday, after the two auto makers reported strong sales growth for March, as buyers rushed to book their vehicles early to avoid paying a higher excise duty from April 1.
Tata Motors-owned Jaguar Land Rover will invest 3.5 billion yuan (over Rs 2,800 crore) in its joint venture with Chery Automobile in China to commence local assembly in the Asian country.
Days after Finance Minister Pranab Mukherjee decided to hike excise duty by 2% points in an effort to bridge the fiscal deficit, automobile manufacturers across the board have increased prices of their vehicles.
Get ready to pay more for passenger vehicles as the excise duty has been hiked by 2% in the Union Budget.
The Budget announcement by Finance Minister Pranab Mukherjee on March 16 is expected to bring more bad news for the automobile sector, with a likelihood of more taxes, especially on diesel vehicles, which will lead to price hikes and further slowdown in demand. Here's what brokerages feel is in store for the auto sector in the Budget.
The companies had selected PTC's Windchill PLM solution as its enterprise PLM solution in early 2011.
In the biggest-ever replacement exercise in Indian automobile history, Tata Motors has asked an estimated 1.40 lakh Nano owners to bring back their cars for change of the starter motor free-of-cost.
India's auto industry may just break even in the fiscal year that ends in March 2012, a senior director of the Society of Indian Automobile Manufacturers said on Thursday.
Car sales in India rose an annual 7% in November, the first monthly rise in five months, an industry body said on Thursday, as the industry rebounded strongly from the biggest fall in over a decade the month before.
It was a mixed quarter for automobile companies in July-September. Most companies saw strong revenue growth. However, depreciation in rupee and high input costs year-on-year hurt profits, especially for Mahindra & Mahindra and Tata Motors.
Jesal Shah, head of research, JM Financial recommends Infosys and TCS from the IT space and says that he is positive on the sector now.
The Indian automobile industry is expected to generate a turnover of up to Rs 2,10,000 crore during this fiscal, Parliament was informed today.
With Chennai enjoying a favourable climate among auto investors, the Tamil Nadu government today said it would strive make the city a global hub in the field of automobile and auto components manufacturing.
Auto sales in India have slowed in last few months as expensive loans, high fuel prices and price hikes by vehicle makers have deterred buyers from new purchases. But, earnings of two-wheeler makers like Bajaj Auto are expected to accelerate in the first quarter as the sector remains relatively insulated from high interest rates and fuel prices.
Rising fuel prices and costlier loans due to consistent monetary tightening by Reserve Bank of India has put the brakes on vehicle sales. That coupled with high cost of raw materials will put pressure on passenger vehicle and commercial vehicle makers’ revenues and profits in the April-June quarter.
Hemant Nerurkar, MD, Tata Steel sharing his views on the steel sector and the price trends said that globally, the prices in the steel industry depend on the raw materials. Seventy percent of the prices depend on the raw materials.