During his previous stints, Malhotra has worked with Fiat India, Maruti Suzuki, and most recently with Mahindra & Mahindra (M&M) as vice president sales. New Delhi: Swedish luxury car maker Volvo Cars is to promote Jyoti Malhotra as managing director of its Indian operations from his current role as director, sales, marketing and PR. Malhotra… Continue reading Volvo Cars to promote Jyoti Malhotra as MD for India operations
Author: Economic Times of India Online News
Meaningful economic recovery not in sight until FY23: Ind-Ra
Representative Image New Delhi: Although economic recovery in coming financial year beginning April 1 (FY22) on a year-on-year basis will be V-shaped, the size of GDP will barely surpass the level attained in 2019-20 (FY20) and be 10.6 per cent lower than trend value, according to India Ratings and Research (Ind-Ra). The impact of Covid-19… Continue reading Meaningful economic recovery not in sight until FY23: Ind-Ra
French auto and electronics firms to work on improving supply chain glitches
Last week carmakers Renault and Stellantis said they had both suspended car production at several factories as they grappled with a worldwide shortage of crucial semiconductors. PARIS: French companies from the automobile and electronics sectors will be working together in the near-term to improve and fix supply chain glitches that have hit the country’s car… Continue reading French auto and electronics firms to work on improving supply chain glitches
India inflation staying above 6% seen as risk to rates path
Representational Image By Anirban NagIndia’s central bank may have to propose raising interest rates if inflation holds above its target for a third straight quarter, prompting monetary and fiscal policy makers to double down on efforts to keep prices in check, according to a person familiar with the matter. Headline inflation has stayed above 6… Continue reading India inflation staying above 6% seen as risk to rates path
Umicore eyes 2021 profit boost from electric vehicles
Chief Executive Marc Grynberg told analysts Umicore was well positioned to benefit from Europe’s electric vehicle push. Belgium’s Umicore expects the thriving European electric vehicle market to boost its battery business in 2021 as the company forecast on Thursday “substantial” group-level growth compared to last year. The maker of catalytic converters and battery materials for… Continue reading Umicore eyes 2021 profit boost from electric vehicles
TVS Group files scheme of amalgamation with NCLT
CHENNAI: The TVS group on Thursday filed a composite scheme of amalgamation and arrangement with the NCLT in pursuance of its December 10 announcement that spoke of a family arrangement executed amongst various members of the TVS family to effect the alignment of the ownership of shares in various companies/businesses forming part of the TVS… Continue reading TVS Group files scheme of amalgamation with NCLT
Racing Team India set to kick start 24-Hours of Le Mans bid with Asian Le Mans debut
New Delhi: Racing Team India will take its first step on the road to the 24 Hours of Le Mans this weekend when it makes its debut at the season-opening round of the Asian Le Mans Series in Dubai. The all-Indian squad, led by the driver line-up of Narain Karthikeyan, Arjun Maini, and Naveen Rao,… Continue reading Racing Team India set to kick start 24-Hours of Le Mans bid with Asian Le Mans debut
Commercial EV makers losing business as lenders deny loans worried over resale value
Bengaluru: Smooth access to consumer finance has become a hurdle in the sale of commercial electric vehicles (EV) with banks wary of lending, worried over resale and residual value of EVs in the event of loan defaults. Sections of EV firms in the business of manufacture and sale of electric three and four wheelers like… Continue reading Commercial EV makers losing business as lenders deny loans worried over resale value
‘Automakers’ profitability likely to weaken after strong Q3FY21′
As such material costs typically amount to more than 60 per cent of automakers’ revenue. Mumbai: High commodity prices along with lower sales volumes are likely to put pressure on automakers‘ margins after an improvement Q3FY21, Fitch Ratings said in a report. “We believe the price hikes announced by automakers in January 2021 will not… Continue reading ‘Automakers’ profitability likely to weaken after strong Q3FY21′
Indian exports picking up: Trade bodies
The country’s engineering exports grew by about 18.7 percent to USD 7,174.43 million in the last month. Kolkata: Days after the country’s exports recorded positive growth in January, leading trade bodies are expecting that the outbound shipments will rise in the coming months as the uncertainty in global markets began to subside, officials said on… Continue reading Indian exports picking up: Trade bodies