Due to the vast size of China’s manufacturing sector, that poses a risk both to the nation’s growth — which is currently predicted to reach 8.5% in 2021, according to a Bloomberg tally of economists’ estimates — and to a global economy that’s grappling with supply shortages and rising prices. Eric Li’s factory making glass… Continue reading World faces longer supply shortage as China’s factories squeezed
Author: Economic Times of India Online News
Maruti Suzuki India making efforts to enhance production of oxygen generators
“Maruti Suzuki decided to involve itself in scaling up production of oxygen generators by small scale units to help overcome the critical shortage of oxygen. We have, in less than a month, increased output levels by more than 10 times,” Maruti Suzuki India (MSI) India Chairman R C Bhargava said. The country’s largest carmaker Maruti… Continue reading Maruti Suzuki India making efforts to enhance production of oxygen generators
U.S. consumers borrow more for longer to drive trucks and SUVs
Experian’s senior director of automotive financial solutions. CUV is an acronym for car-like, crossover utility vehicles such as the Toyota RAV4, a best seller in the category. DETROIT: U.S. consumers borrowed more for longer in the first quarter of 2021 so they could drive more expensive trucks and sport utility vehicles, according to a new… Continue reading U.S. consumers borrow more for longer to drive trucks and SUVs
Autocomp sector set for a rebound after two tough fiscals: Crisil
Replacement demand which was impacted due to lockdowns and restricted movement of people and freight will recover gradually. Mumbai: The automotive components sector will see revenue rebound 21 to 23 per cent next fiscal as domestic and export demand revives after two straight contractions, a Crisil research analysis shows. Higher margins will lift operating profits… Continue reading Autocomp sector set for a rebound after two tough fiscals: Crisil
Local lockdowns temper India’s economic activity in April
Auto sales published by companies such as Maruti Suzuki India Ltd. and Hero MotoCorp Ltd. on the first day of every month serve as an indicator of demand. NEW DELHI: India’s economic activity showed signs of beginning to cool off in April as several states resorted to lockdowns to control a deadly second wave of… Continue reading Local lockdowns temper India’s economic activity in April
CII President Uday Kotak pitches for fiscal package to deal with COVID-19 impact
On the impact of the second wave of the pandemic on the GDP, Kotak said the initial feedback suggests that it was adversely impacting the economy and also the growth. Amid the second wave of COVID-19 pandemic, CII President Uday Kotak on Wednesday “strongly” recommended the government to consider another fiscal package to support the… Continue reading CII President Uday Kotak pitches for fiscal package to deal with COVID-19 impact
Auto factories in Tamil Nadu to begin full production from next week
Chennai: The auto factories in Oragadam-Sriperumbudur-Kanchipuram region, most of which have opted for extended shutdown due to Covid pandemic, will restart production next week. Yamaha, which is currently on an extended shutdown of around 15 days, will open on June 1, said a plant employee. When contacted, the company spokesperson said: “We will take all… Continue reading Auto factories in Tamil Nadu to begin full production from next week
FY’22 GST compensation shortfall estimated at Rs 2.69 lakh crore
The shortfall in GST compensation payable to states in the current fiscal is estimated at Rs 2.69 lakh crore, of which Rs 1.58 lakh crore would have to be borrowed this year. The Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to… Continue reading FY’22 GST compensation shortfall estimated at Rs 2.69 lakh crore
Strong pipeline for small biz IPOs; BSE SME to see over 60 listing in one year
BSE had launched SME platform in March 2012 to provide opportunity to such firms to raise capital for growth and expansion. Since then a total of 337 companies got listed on its SME segment and raised Rs 3,500 crore. These companies have a collective market capitalisation of over Rs 26,300 crore. NEW DELHI: More than… Continue reading Strong pipeline for small biz IPOs; BSE SME to see over 60 listing in one year
EV charger maker Tritium to go public in $1.2 billion SPAC deal
Tritium, which has installed chargers in more than 40 countries, said the combined company will list its stock on the Nasdaq and trade under the ticker symbol “DCFC”. Brisbane: Australia-based Tritium agreed to go public in the United States through a merger with a blank-check firm, valuing one of the world’s largest electric vehicle charging-station… Continue reading EV charger maker Tritium to go public in $1.2 billion SPAC deal