“We are still waiting that maybe with the GST cut for automotives, there might be a positive effect,” he said, referring to the reduction in India’s Goods and Services Tax. India’s small steelmakers are struggling with weak demand, rising inventories and falling prices, highlighting a construction slowdown despite New Delhi introducing its biggest consumer tax… Continue reading India’s small steelmakers cut output as weak demand, falling prices bite
Author: Economic Times of India Online News
India-EU FTA talks make headway amid steel, auto differences
The FTA talks, covering 23 policy areas, include trade in goods and services, investment, technical barriers, customs facilitation, intellectual property rights and sustainable development. Negotiations for the proposed free trade agreement (FTA) between India and the European Union (EU) are making progress, although differences remain in areas such as steel, automobiles, and non-tariff barriers, a… Continue reading India-EU FTA talks make headway amid steel, auto differences
Festive auto retail sales bounce back, navratri sees 15-35% YoY growth across segments: Report
The festive period marked a firm recovery in auto retail, with sequential improvements in both footfalls and retail conversions underscoring a strong revival in consumer demand. Auto retail sales witnessed a robust recovery during the Navratri festival, with growth ranging between 15 per cent to 35 per cent year-on-year (YoY) across passenger vehicle (PV) and… Continue reading Festive auto retail sales bounce back, navratri sees 15-35% YoY growth across segments: Report
Magenta to replicate DST-style success in India; eyes up to $50 mn in fresh funding
Maxson Lewis, Founder and Chairman New Delhi: Magenta Mobility, which calls itself India’s largest electric logistics solution provider, is looking to raise up to $50 million in series B funding. Earlier this year, Magenta had raised $6 million in pre-series B from BP and Morgan Stanley. The money raised in the fresh round will be… Continue reading Magenta to replicate DST-style success in India; eyes up to $50 mn in fresh funding
Tata Motors demerger: Stock slides 7% in 7 days. Will the restructuring spark gains or more volatility?
The company has fixed October 14 as the record date to determine shareholders eligible to receive one fully paid-up share of TMLCV for every share held in Tata Motors. Tata Motors shares slid 7 per cent over seven sessions, hitting ₹679.05 on Monday after dropping as much as 2 per cent in intraday trade, as… Continue reading Tata Motors demerger: Stock slides 7% in 7 days. Will the restructuring spark gains or more volatility?
Bengaluru drivers can now see traffic signal timers on Mappls app
With the Mappls integration, the same countdown displayed on physical signal poles can now be viewed directly on mobile screens. Motorists in the city can now check the traffic signal countdown at the next junction on their mobile phones. Bengaluru traffic police, in collaboration with the navigation app Mappls, have introduced a new feature that… Continue reading Bengaluru drivers can now see traffic signal timers on Mappls app
OP Mobility to invest up to $300 mn in India, add 5 new factories
The investment will entail OP Mobility doubling the number of factories in India to 10 besides starting a new technology centre as it also looks to more than double its business in the country. OP Mobility SE plans to invest $200-$300 million (₹1,774-2,661 crore) in India over the next five years to significantly expand its… Continue reading OP Mobility to invest up to $300 mn in India, add 5 new factories
LG Energy Solution Q3 profit likely up 34% on US EV sales rush
LGES has tried to boost production of batteries for energy storage systems (ESS) to offset sluggish EV demand and improve profits in the second half of this year. Battery maker LG Energy Solution (LGES) said on Monday its third-quarter operating profit likely rose 34 per cent as US consumers rushed to buy electric vehicles to… Continue reading LG Energy Solution Q3 profit likely up 34% on US EV sales rush
N Chandrasekaran gets historic extension as Tata bets big on semiconductors, EVs, and Air India
N Chandrasekaran In the first ever departure from the Tata Group‘s retirement policy, the Tata Trusts approved a third executive term for N Chandrasekaran, chairman of Tata Sons, said people aware of the matter. Chandrasekaran will be 65 when he ends his second term in February 2027. Under group rules, executives are expected to step… Continue reading N Chandrasekaran gets historic extension as Tata bets big on semiconductors, EVs, and Air India
BPCL and RBML partner to boost CNG sales and India’s gas-based economy
The partnership is part of BPCL’s Project Aspire initiative, which focuses on creating a sustainable energy framework for the country. Bharat Petroleum Corporation Limited (BPCL) has entered into a strategic partnership with Reliance BP Mobility Limited (RBML) to strengthen India’s City Gas Distribution (CGD) and Compressed Natural Gas (CNG) sectors. The agreement supports the government’s… Continue reading BPCL and RBML partner to boost CNG sales and India’s gas-based economy