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New Delhi: The upcoming Initial Public Offering (IPO) of <keyword id="20214518" type="General" weightage="20" keywordseo="Hyundai-Motors-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors India" meta.hostid="261" meta.entityid="Hyundai Motors India">Hyundai Motors India</keyword> has sparked significant interest in the Indian markets, but a recent report by <keyword id="20303939" type="General" weightage="20" keywordseo="Aequitas-Investments" source="keywords" meta.keywordsubtype="org" meta.entityname="Aequitas Investments" meta.hostid="261" meta.entityid="Aequitas Investments">Aequitas Investments</keyword> suggests it may not be as promising for <keyword id="19953411" type="General" weightage="20" keywordseo="Indian-investors" source="keywords">Indian investors</keyword> as anticipated. The report highlighted several concerns, pointing to broader industry challenges and the valuation mismatch as reasons for caution. It said "Given the headwinds that the Global <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">Automobile Industry</keyword> is facing coupled with signs of a slowdown in India, the upcoming IPO might not be a great deal for Indian Investors" Hyundai Motor Company, the parent firm based in South Korea, is set to offload shares worth Rs 25,000 crore through an Offer for Sale (OFS) in the Indian market. However, the report suggested that the current global headwinds facing the automobile industry, combined with signs of a slowdown in India, may make this IPO less attractive for Indian investors. One of the key issues flagged in the report is the valuation of Hyundai Motors India. The report noted that despite contributing only 6.5 per cent of Hyundai's global revenue and 8 per cent of its overall profitability, the Indian unit is expected to be valued at approximately 42 per cent of the parent company's market capitalization upon listing. This valuation discrepancy raises concerns about whether the IPO price is justified given the Indian unit's relatively modest contribution to Hyundai's global business. "Despite contributing only 6.5 per cent of the global revenues and 8 per cent of the profitability, Hyundai's India unit will be valued at approx. 42 per cent of the Parent Co.'s MCap on listing" the report added. From Hyundai's perspective, the move makes sense. In South Korea, Hyundai's stock currently trades at a price-to-earnings (P/E) ratio of just 5x, making the sale in India potentially more lucrative. The report argues that Hyundai is looking to take advantage of the relatively higher valuations in India. It said "From Hyundai's perspective it's a no-brainer as their stock in S.Korea trades at a measly 5x P/E" Hyundai Motor Group, which includes both Hyundai and Kia, is the third-largest automaker globally, having sold 7.3 million vehicles in 2023. While Hyundai Motors India does not have a stake in Kia Motors India, the parent company owns a controlling 34 per cent stake in Kia Motors globally and fully owns Genesis Motors, a luxury brand in South Korea.

Hyundai IPO might not be a great deal for Indian investors: Report

The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

What is the right time to make a <keyword id="20224622" type="General" weightage="100" keywordseo="motor-insurance" source="keywords">motor insurance</keyword> claim? While there are no right answers, you generally make a claim if your car or bike has suffered serious damages in an accident, which will cost a bomb to repair! But did you know that you could also make a claim if your car or bike was damaged by, well, a coconut? Surprised? <keyword id="20081892" type="General" weightage="20" keywordseo="Digit-Insurance" source="keywords" meta.keywordsubtype="org" meta.entityname="Digit Insurance" meta.hostid="261" meta.entityid="Digit Insurance">Digit Insurance</keyword>, which is backed by ace Indian cricketer Virat Kohli, recently released some interesting data in this regard. Per the company, by the end of FY24, it had paid out almost Rs 1.68 crore in claims related to over 1,500 cases where the damage was caused by an innocuous coconut! <cmsannotation type="cmsannotation" annotationid="Monkeys go coconuts!" comment="subhead" text="Monkeys go coconuts!"><keyword id="20243262" type="General" weightage="20" keywordseo="monkeys" source="keywords">Monkeys</keyword> go coconuts!</cmsannotation> Well, if you don't believe a coconut can wreak this kind of havoc, think again. The company reported receiving more than 350 cases of <keyword id="19986918" type="General" weightage="20" keywordseo="vehicle-damage" source="keywords">vehicle damage</keyword> in just 2023, where the good old coconut was the culprit! The maximum claims stemmed from Maharashtra. The average claim amount was around Rs 10,000. If you’re away from the coast, you’ll have to battle your neighborhood's dogs and monkeys! Monkey’s seem to have a special liking for motorcycles, given that Digit reported setting over 1,200 claims worth Rs 40 lakh towards damage to 2-wheelers caused by monkeys in FY 2023-24. The cases saw a 40% jump on a YoY basis. Since Digit’s inception in 2017, the company has seen more than 85,000 claims where the primary cause of vehicle damage was an animal. Out of these, dogs were the main reason behind 7% of such claims in FY 2023-24, triggering payouts of over Rs 30 crore. <cmsannotation type="cmsannotation" annotationid="The mayhem of dogs and goats" comment="subhead" text="The mayhem of dogs and goats">The mayhem of dogs and goats</cmsannotation> As per the company’s internal claims data, Indira Nagar in Lucknow seems to be the epicentre of dogs unleashing damage on vehicles. The company reported paying more than Rs 6.7 lakh towards 110 claims received from this location. If, on an unfortunate day, your bike ever gets in an accident, how much do you imagine the damage payout would be? Well, in some cases, like of a luxury bike, which was damaged upon accident with a goat, the <keyword id="22121817" type="General" weightage="20" keywordseo="accidental-damage-payout" source="keywords">accidental damage payout</keyword> went as high as Rs 6.75 lakh. <cmsannotation type="cmsannotation" annotationid="Motor Insurance on the rise" comment="subhead" text="Motor Insurance on the rise">Motor Insurance on the rise</cmsannotation> As per data from the annual report of insurance regulator <keyword id="6361421" type="General" weightage="20" keywordseo="IRDA" source="Orion">IRDA</keyword>, the motor segment saw a YoY growth of about 15.4% in <keyword id="21608709" type="General" weightage="20" keywordseo="premium-collection" source="keywords">premium collection</keyword>, from Rs 70,433 crore in 2021-22 to Rs 81,280 crore in 2022-23. The average <keyword id="19989676" type="General" weightage="20" keywordseo="claim-settlement-ratio" source="keywords">claim settlement ratio</keyword> of India’s motor insurance industry has also been on a steady rise, going from 81.3% in 2021-22 to 84.48% in 2022-23. Additionally, the incurred claims ratio, or the proportion of claims paid as against premium received also noted a marginal rise, from 81.30% in 2021-22 to 84.48% in 2022-23. All in all, save your precious cars or bikes from the terror of monkeys, dogs, coconuts and more. If you are yet to get a comprehensive vehicle insurance for your two or four wheeler, do so at the earliest!

Dogs, coconuts and monkeys: Insure your vehicles from their mayhem right now!

Mumbai: Tata Indica, the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> brass, led by <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, acceded to a meeting request from <keyword id="23121503" type="General" weightage="20" keywordseo="Ford-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford Motors" meta.hostid="261" meta.entityid="Ford Motors">Ford Motors</keyword> for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks. During the meeting at the Tata headquarters, the American company evinced interest in buying out the business after the not-so-warm response to the hatchback car for over a year since launch. Soon, top Tata officials, led by Ratan Tata, went to the US for a further meeting, which lasted about three hours. According to a person who attended the meeting, officials from Ford "humiliated" the visiting Indians at the meeting in Detroit. "You do not know anything, why did you start the passenger car division at all," the Ford officials told their guests, and spoke about doing a favour to the Indian company by buying out the latter's business. The team decided to return to India immediately after the meeting, which was described as "humiliating" by the person present. On the 90-minute flight taking them back to New York, a sombre Ratan Tata spoke very few words. "This was in 1999 and come 2008, the same Ford's <keyword id="19916884" type="General" weightage="20" keywordseo="JLR" source="keywords">JLR</keyword> was bought by us. Ford chairman Bill Ford thanked Tata, saying, 'You are doing us a big favour by buying JLR'," Pravin Kadle, a long-time group veteran, had recounted during a public event a few years ago. In 2008, the Tata Group bought the iconic brands from making sedans and sports utility vehicles in a USD 2.23-billion deal from Ford. Post-acquisition, the Tata Group has scripted one of the most fabulous turnarounds in the auto industry and has been able to position the marquee British brands as formidable entities in the fiercely competitive global car market. Even as Tata Motors has come a long way and gained market share in India, it continues to earn a significant part of its revenues from the JLR.

You Searched For "Indian Motor Vehicles Act" and got 4 results

Hyundai IPO might not be a great deal for Indian investors: Report

ANI

Automobile industry hails PM e-DRIVE scheme to promote EVs

ANI

Dogs, coconuts and monkeys: Insure your vehicles from their mayhem right now!

Ira Alok Puranik

The Tata way of paying back humiliation: doing the 'favour' of 'buying out'

PTI

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