Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

India’s automobile sector is expected to get a boost during the upcoming festive season, with a forecasted growth of over 15%, particularly in the two-wheeler (2W) segment. According to an ANI report, this projection comes from a research report by <keyword id="23122458" type="General" weightage="20" keywordseo="nuvama-wealth-investment-limited" source="keywords">Nuvama Wealth Investment Limited</keyword>, which attributes the growth to increased customer enquiries and a resurgence in rural demand. A key factor driving this surge is the anticipated revival of rural demand, which contributes more than 55% to the two-wheeler market. According to the report, rural areas are showing strong signs of recovery, and the increased enquiries suggest a positive outlook for sales. This bodes well for mass-market original equipment manufacturers (OEMs) such as TVS Motors, <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero MotoCorp</keyword>, and <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword>. The launch of new models, including the <keyword id="22875740" type="General" weightage="20" keywordseo="tvs-jupiter" source="keywords">TVS Jupiter</keyword> and Hero Xtreme 125R, is also expected to boost two-wheeler sales. In contrast, premium OEMs like Eicher Motors, which produces Royal Enfield motorcycles, may not experience the same level of demand growth. In the passenger vehicle segment, rural demand accounts for over 35% of the market. While growth in this area is expected to be in the single digits, it is anticipated that utility vehicles (UVs) will outpace hatchbacks with double-digit growth. This trend will likely benefit manufacturers such as Mahindra &amp; Mahindra and Tata Motors, with new models like the Mahindra Thar Roxx and Tata Currv expected to attract a significant share of customers. On the other hand, <keyword id="19909974" type="General" weightage="100" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, traditionally a strong player in the hatchback segment, may see more subdued growth compared to its rivals in the UV space. In preparation for the festive season, dealers have ramped up their inventories for both two-wheelers and passenger vehicles. According to the report, dealers have built up stocks for 1.5 to 2.5 months, signalling confidence in the market’s potential for increased sales. This build-up of inventory demonstrates that both manufacturers and dealers are optimistic about the surge in demand during the festive period. While two-wheelers and passenger vehicles are set to lead the charge this festive season, the commercial vehicle (CV) market is expected to grow at a more modest pace. Demand for medium and heavy commercial vehicles (MHCVs) is projected to increase in the low single digits, primarily driven by replacement demand as freight availability improves across India. Similarly, the tractor segment is expected to perform well over the next few years, with volume growth likely in the high single digits from FY24 to FY26. Tractors are seen as a strong performer in the long term, and the sector is poised to benefit from India’s agricultural demand and rural recovery. Looking beyond the festive season, the report suggests that the long-term outlook for the two-wheeler and tractor segments remains robust. Historical sales cycles, which typically span two to four years, suggest that these sectors could reach new peaks in the coming years. As a result, the report forecasts high single-digit volume growth for two-wheelers and tractors through FY24-26, while passenger vehicles and commercial vehicles are expected to see low single-digit growth. Overall, the Nuvama report paints a positive picture for the Indian automobile sector. (With PTI inputs)

Festive season to drive over 15% growth in Indian Automobile Market, says report

<ul><li>The Indian electric two-wheeler market has reported a month-on-month decline in sales.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> continues to lead the market but its market share has declined.</li><li><keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor" meta.hostid="261" meta.entityid="TVS Motor">TVS Motor</keyword> and <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> occupy the second and third spots respectively.</li></ul>After months of subdued sales, the Indian electric two-wheeler market bounced back in July 2024, crossing the 1 lakh mark. Sales have once again slowed down in August 2024, declining by 17% month-on-month. In the month of August 2024, 88,451 electric scooters were sold in India, up from 62,778 scooters sold in August 2023, reporting a 41% year-on-year growth. However, this was considerably lower than the 1,07,472 electric scooters sold in July 2024. <div type="Article" hostid="261" msid="113016216" title="August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales" mstype="2" mssubtype="0"></div> Electric two-wheelers continue to form the bulk of electric vehicle (EV) sales in India, with EV two-wheelers making up 57% of Indian <keyword id="19914921" type="General" weightage="20" keywordseo="EV-sales" source="keywords">EV sales</keyword> in August 2024 in terms of numbers. <h2>Ola Electric continues to lead the market</h2>A month after its initial public offering (IPO), Ola Electric reported a sale of 27,506 units in August 2024, up from 18,749 vehicles sold in August 2023, reporting a 46.7% year-on-year growth. This is however lower than its July 2024 sales of 41,711 vehicles. With this, the company currently occupies a 31% market share, down from 39% in July 2024. <h2>TVS Motor continues to occupy the second spot</h2>TVS Motor continues to be a distant second, with 17,541 electric scooters sold in August 2024, up from 15,482 scooters sold in August 2023, recording a 13.3% year-on-year growth. TVS Motor currently occupies a 20% market share in the Indian electric two-wheeler segment. Bajaj Auto has emerged as a close third, with 16,699 electric scooters sold in August 2024, up 153.7% from 6,582 electric scooters sold in August 2023. The company currently occupies a 19% market share. <keyword id="19938729" type="General" weightage="20" keywordseo="Ather-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Ather Energy" meta.hostid="261" meta.entityid="Ather Energy">Ather Energy</keyword> is now in the fourth position, with 10,829 scooters sold in August 2024, up from 7,157 scooters sold in August 2023, recording a 51.3% year-on-year growth. The company commands a 12% market share. <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword> takes the fifth spot with 4,782 electric scooters sold in August 2024, up from 915 scooters sold in August 2023, recording a 422% year-on-year growth. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/august-auto-sales-maruti-suzuki-tata-motors-and-others-report-a-decline-in-sales/articleshow/113016216.cms">August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales</a> <a href="https://www.businessinsider.in/tech/news/indian-tablet-market-records-good-growth-in-q2-2024-1-in-2-tablets-sold-was-from-samsung/articleshow/113011836.cms">Indian tablet market records good growth in Q2 2024, 1 in 2 tablets sold was from Samsung</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-multistrada-v4-rs-adv-launched-in-india-at-38-40-lakh/slidelist/112912412.cms">Ducati Multistrada V4 RS ADV launched in India at ₹38.40 lakh</a>

Electric two-wheeler sales declined in August 2024, but year-on-year growth continues

<keyword id="19983534" type="General" weightage="100" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="83" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword> on Sunday said it has received a <keyword id="19901479" type="General" weightage="20" keywordseo="demand-notice" source="keywords">demand notice</keyword> of over Rs 17 crore from <keyword id="22828708" type="General" weightage="20" keywordseo="Delhi-GST-authorities" source="keywords">Delhi GST authorities</keyword>. The company has received an order for disallowance of <keyword id="19980589" type="General" weightage="20" keywordseo="input-tax-credit" source="keywords">input tax credit</keyword> for FY 2019-20 from the Office of the <keyword id="20263022" type="General" weightage="20" keywordseo="gst-officer" source="keywords">GST Officer</keyword>, <keyword id="22830157" type="General" weightage="20" keywordseo="Government-of-NCT-of-Delhi" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of NCT of Delhi" meta.hostid="83" meta.entityid="Government of NCT of Delhi">Government of NCT of Delhi</keyword>, the two-wheeler major said in a <keyword id="19954258" type="General" weightage="20" keywordseo="regulatory-filing" source="keywords">regulatory filing</keyword>. The company said the tax demand is for Rs 9,38,66,513, interest Rs 7,32,15,880 and penalty Rs 93,86,651 as per the notice. Based on the company's assessment, the tax demand is not maintainable in law, it added. The input tax credit disallowed by the office of the GST Officer, New Delhi, was rightfully claimed by the company as per the provisions of the GST law but disallowed on account of the supplier's non-compliance, which is not attributable to the company, <keyword id="7029" type="General" weightage="20" keywordseo="Hero" source="Orion">Hero</keyword> MotoCorp said. Accordingly, the company shall take appropriate steps, including filing an appeal, it added. There is no material impact on financials, operations or other activities of the company, Hero MotoCorp said.

Hero MotoCorp gets over Rs 17 crore tax notice from Delhi GST authorities

<keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword>, one of the leading <keyword id="22160307" type="General" weightage="20" keywordseo="two-wheeler-manufacturers" source="keywords">two-wheeler manufacturers</keyword> in the country, has announced a price increase for its <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">motorcycles</keyword> and <keyword id="22160306" type="General" weightage="20" keywordseo="scooters" source="keywords">scooters</keyword> starting from July 1, 2024. This information was conveyed by the company in a filing to the exchange on Monday. "Hero <keyword id="20291118" type="General" weightage="20" keywordseo="motocorp" source="keywords">MotoCorp</keyword> will make an upward revision in the ex-showroom prices of select motorcycles and scooters, with effect from July 1, 2024," said the company. The price increase will be up to Rs 1,500 on various models, although the exact amount will differ depending on the specific model and market. "The price revision will be up to Rs. 1,500 and the exact quantum of increase will vary by specific model and market," the company clarified. This means that while some models might see a smaller increase, others could reach the maximum threshold of Rs 1,500. The company has attributed this price adjustment to the rising input costs associated with manufacturing. The company stated that the increase was necessary to mitigate some of these higher costs. "The revision has been necessitated to partially offset the impact of higher input costs," the company stated. The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry. In May 2024 Hero MotoCorp, sold 498,123 units, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments. Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023. However, the company registered growth in export sales. Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

<keyword id="19948209" type="General" weightage="20" keywordseo="two-wheeler" source="keywords">Two-wheeler</keyword> maker <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords">Hero MotoCorp</keyword> Ltd on Wednesday reported a 16.3 per cent rise in consolidated <keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> after tax to Rs 943.46 crore in the fourth quarter ended on March 31, 2024, riding on higher sales. The company had posted a consolidated profit after tax of Rs 810.8 crore in the same period a year ago, Hero MotoCorp said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 9,616.68 crore as against Rs 8,434.28 crore in the corresponding period a year ago, it added. Hero MotoCorp said it sold 13.92 lakh units of motorcycles and scooters in <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24 as against 12.70 lakh units in Q4 FY23. Total expenses were higher at Rs 8,427.36 crore in the fourth quarter as compared to Rs 7,508.94 crore in the same period a year ago. For the fiscal ended March 31, 2024, consolidated profit after tax was at Rs 3,742.16 crore as compared to Rs 2,799.9 crore in the previous fiscal. Consolidated revenue from operations for FY24 stood at Rs 37,788.62 crore as compared to Rs 34,158.38 crore in FY23, it added. Hero MotoCorp said it sold 56.21 lakh units of motorcycles and scooters in FY24 as compared to 53.29 lakh units in FY23. "During the year, our focus on product launches, network upgrades and customer satisfaction drove us to new heights. From the highest number of product launches to the expansion of new format retail outlets and upgrade at super speed, to a digital-first approach in premium, we set the building blocks in place for accelerated growth in future," Hero MotoCorp Chief Executive Officer Niranjan Gupta said. On the outlook, he said, "Moving forward, we expect the macroeconomic factors to aid the industry's growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters." Gupta further said the company will be driving market share gains on the back of launches in the premium and 125 cc segment done in FY 24. The company's board has recommended a final dividend of Rs 40 per share on the face value of Rs 2 per equity share subject to approval of the shareholders at the ensuing annual general meeting, the filing added. "This dividend together with an interim and special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal of Rs.100 per equity share, takes the aggregate total dividend for the year 2023-24 to Rs 140 per equity share," the company said. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank">TBO Tek IPO – Company details to risk factors, all you need to know</a>

Hero MotoCorp Q4 PAT up 16.7% at ₹943.46 crore

<ul><li>Ather Energy has launched the Rizta, the company’s first family electric scooter.</li><li>The <keyword id="20264587" type="General" weightage="100" keywordseo="Ather-Rizta" source="Orion">Ather Rizta</keyword> is priced starting at ₹1,09,999 and is available in three variants.</li><li>The company also launched the <keyword id="21234259" type="General" weightage="20" keywordseo="ather-halo" source="Orion">Ather Halo</keyword>, its smart helmet at the event.</li></ul> Ather Energy launched its latest electric scooter, the Rizta in India on Saturday at its Community Day 2024 event. The Ather Rizta is a family scooter, featuring a traditional scooter design with a modern touch. The company, which is backed by Indian two-wheeler giant Hero MotoCorp has jumped into the family scooter segment with the launch of the Rizta, after selling its performance-oriented Ather 450X for several years now. Rizta, which has been dubbed as the “scooter for the entire family” has been launched in two models – <keyword id="21234257" type="General" weightage="20" keywordseo="Rizta-S" source="keywords">Rizta S</keyword> and <keyword id="21234258" type="General" weightage="20" keywordseo="Rizta-Z" source="keywords">Rizta Z</keyword>. It will be available in three variants – Rizta S, Rizta Z 2.9kWh and Rizta Z 3.7kWh. “We entered the two-wheeler market with our performance scooter, the 450 series, which was recognised in the industry. Now, we are setting foot in the family segment with the Rizta, which has been designed and engineered with the Indian family in mind,” said Tarun Mehta, co-founder and chief executive officer, Ather Energy. <cmsannotation type="cmsannotation" annotationid="Ather Rizta price and variants" comment="subhead" text="Ather Rizta price and variants"><keyword id="20844878" type="General" weightage="20" keywordseo="Ather-Rizta-price" source="Orion">Ather Rizta price</keyword> and variants</cmsannotation> The Ather Rizta has been priced at ₹1,09,999 (ex-showroom, Bengaluru) for the Rizta S, ₹1,24,999 for the Rizta Z 2.9kWh and ₹1,44,999 for the Rizta Z 3.7kWh. <cmsannotation type="cmsannotation" annotationid="Ather Rizta specifications" comment="subhead" text="Ather Rizta specifications">Ather Rizta specifications</cmsannotation> The Ather Rizta will be equipped with the company’s upcoming software, the AtherStack 6, which the company says is more user-friendly and fluid. It features an all-new design, which is aimed at giving it a more traditional look. The Ather Rizta features a large 900 mm seat, which the company claims is the largest in the segment. For comparison, the Ather 450X features a 780 mm seat. Due to the large seat, the electric scooter also gets a large boot offering 34L of storage capacity. In addition to this, users can equip a frunk at the front to gain an additional 22L storage capacity. The Ather Rizta S and the Rizta Z 2.9kWh variants are both equipped with a 2.9kWh battery pack and come with an IDC-certified range of 123 km. On the other hand, the top variant of the Rizta Z is equipped with a 3.7kWh battery pack and comes with a 160 km IDC range. Another significant change from the Ather 450X is that the Rizta offers just two driving modes – SmartEco and Zip. It also comes with a top speed of 80km per hour. The Rizta Z comes with features such as reverse mode, magic twist, coasting regen, and the new SkidControl technology, which is a traction control feature aimed at offering a better grip on the road. <cmsannotation type="cmsannotation" annotationid="Ather Halo" comment="subhead" text="Ather Halo">Ather Halo</cmsannotation> Ather Energy also launched the Halo smart helmet at the event. The Ather Halo is a premium helmet equipped with Harman Kardon speakers. It allows the rider to listen to music and answer calls, without having to take out their smartphone. If you own an Ather scooter, you can control the music and calls using the scooter itself. The Ather Halo offers a battery life of up to 1 week and comes with wireless charging support. The Ather Halo is a full-face helmet and comes with a price tag of ₹14,999. For an introductory period, it will be available for ₹12,999. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheeler-industry-records-highest-ever-monthly-sales-as-fame-subsidy-ends/articleshow/109030516.cms">India’s electric two-wheeler industry records highest-ever monthly sales as FAME subsidy ends</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-retakes-the-second-spot-from-tata-motors-records-its-highest-ever-sales/articleshow/108962655.cms">Hyundai retakes the second spot from Tata Motors, records its highest-ever sales</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-april-2024/slidelist/108869757.cms">Upcoming cars and two-wheelers launching in India in April 2024</a>

Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment

Mumbai (Maharashtra) [India], February 27 (ANI): After enduring two consecutive days of negative openings, the stock market managed to claw back, closing on a positive note on Tuesday. The benchmark indices, Sensex and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword>, staged a remarkable recovery, registering gains despite a sluggish start to the trading session. The BSE Sensex surged by 305.09 points, closing at 73,095.22, while the Nifty50 climbed 76.30 points, settling at 22,198.35. The positive momentum was reflected in the market breadth, with 28 Nifty companies advancing and 22 declining. Notable gainers among the Nifty constituents included Tata Motors, TCS, Power Grid, IndusInd Bank, and <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, while <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero Motocorp</keyword>, Bajaj Finance, SBI, <keyword id="19950210" type="General" weightage="20" keywordseo="bajaj-finserv" source="keywords">Bajaj Finserv</keyword>, and Divi's Lab emerged as the top losers at the market closing on Tuesday. Varun Aggarwal, founder and managing director, Profit Idea said, "The equity benchmark indices witnessed a slow start in the first half of the trading session, but sentiment improved as the day progressed, resulting in a 0.4 per cent gain by the closing bell. Tata Motors led the gains, buoyed by positive investor sentiment, followed by TCS, Power Grid, IndusInd Bank, and Sun Pharma. Other notable gainers included Bharti Airtel, Eicher Motors, JSW Steel, and HDFC Life. However, the broader BSE MidCap and SmallCap indices ended marginally lower after erasing initial gains". In terms of sectoral performance, the Nifty PSU Bank index experienced a slight decline of 0.56 per cent, contrasting with the 1 per cent gain in the Nifty Realty index. Despite lingering global uncertainties surrounding inflation data, Indian indices surged in the afternoon session. However, concerns regarding market exhaustion and valuation constraints persisted, particularly in the broader market. Additionally, anticipation of potential rate-cut adjustments by the Federal Reserve contributed to cautiousness among investors. Gold prices witnessed an uptick amidst a weakening dollar, with investors eagerly awaiting crucial U.S. inflation data and Federal Reserve speeches for potential rate-cut clues. European shares edged higher, supported by gains in basic resources and positive earnings reports, while Asian shares slipped ahead of key inflation data releases in Europe and the U.S. The yen stabilized against the dollar, while Tokyo's Nikkei barely moved despite reaching a record high. Market participants remained vigilant, closely monitoring U.S. durable goods sales, consumer confidence, and home prices data later in the day. Meanwhile, Brent crude futures hovered around USD 82.63 a barrel amidst reports of a proposed Gaza truce. S&amp;P 500 and Nasdaq futures, along with European futures, showed slight declines, while ten-year U.S. Treasury yields eased, accompanied by a fall in two-year yields as well. The Indian stock market's resilience in the face of global uncertainties underscores investor confidence and optimism about the nation's economic prospects. As markets continue to navigate volatility, stakeholders remain focused on key economic indicators and global developments for insights into future market movements. (ANI)

Market resilience prevails: Sensex-Nifty rally to close higher despite initial slump

New Delhi, <keyword id="6357252" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="Orion">Hero MotoCorp</keyword> on Thursday said it recorded highest-ever sales in a festive season by retailing more than 14 lakh two-wheeler units in the 32-day period this year. The country's largest two-wheeler maker achieved the sales mark between the first day of the Navratras and Bhai Dooj on November 15. Riding on robust demand across rural markets as well as steady retail off-take in key urban centres, the company registered a 19 per cent growth over the previous year, and surpassed its previous highest retail of 12.7 lakh units which was recorded in the festive period of 2019, Hero MotoCorp said in a statement. "Our strong portfolio of brands, scale of distribution and new launches done this year have helped in driving this growth across geographies," Hero MotoCorp CEO Niranjan Gupta said. The festive season is a clear testimony that rural is coming back to growth, which augurs well for the country in general and the two-wheeler industry in particular, he added. Hero MotoCorp Chief Business Officer (India Business Unit) Ranjivjit Singh said the record retail number was achieved due to the strong customer traction across markets, with good double-digit growth in the Central, North, South and East zones. The robust customer demand in the rural markets, in addition to the very positive sentiments in key urban centres, drove this record retail sales, he added. "With this robust retail sales, our post-festive channel inventory has now come down to its lowest level in more than three years. This has set us on a steady growth path for the rest of the fiscal year," Singh noted.

Hero MotoCorp logs highest-ever retail sales of over 14 lakh units in festive season

<ul><li>Market is hoping that the government will continue with its push for schemes like Atmanirbhar Bharat, Make in India, and the PLI.</li><li>Capex spending is not expected to be as high as FY24 but is expected to be in the range of 10-20% higher than the year before.</li><li>Along with infra push, rural economy driven schemes are expected to receive allocations as it has been under the cloud of a weak monsoon. </li></ul>Union finance minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> set the stage for low expectations from the upcoming Interim Budget, insisting that there would be no spectacular announcement. The interim budget allows the incumbent government to undertake expenditures till a new government is formed after general elections. The stock markets too have not been expecting much from it either. After BJP’s wins during state elections drove a rally, they hope the government will keep pushing along the path of fiscal consolidation. Investors expect the government will provide impetus to key policy reforms such as Atmanirbhar Bharat, Make in India, and the PLI scheme in FY25. “The impact of the Union Budget on the equity market has reduced notably over the past few years, with the government undertaking most of the reforms outside the purview of the Budget. Nonetheless, the market participants continue to view it as a critical catalyst stimulating the growth of the Indian economy and, thereby, the Indian market,” said <keyword id="20204942" type="General" weightage="20" keywordseo="pranav-haridasan" source="keywords">Pranav Haridasan</keyword>, MD and CEO, Axis Securities. The Big Question of public capex The Indian government’s capex push in FY24 has aided large-scale infrastructure growth. This helped mid and small cap companies gain ground as private capex is still elusive. Any announcements on this side could be market movers. “Major public capex is unlikely since the FM has to achieve the fiscal deficit target of 5.9% for FY24 targeted in the 2023 budget. Also the massive public expenditure done through the budget provision last year has helped in triggering growth in the Indian economy. Therefore, the government’s priority would be to achieve fiscal discipline,” opines Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. While the FY24 Union Budget saw a 35% rise in capex spending, this time the market hopes it to be anywhere around 10-20%. Its focus is likely to continue to be on infrastructure like roads, water, metro, railways, defense, digital infrastructure, and green technologies. All which will drive investment-driven growth. Driving the rural economy A few experts also believe that the government might give the rural economy a much needed push as it’s not fully recovered from the pandemic. Particularly because buoyant tax collections have kept India’s fiscal situation of FY24 in a good stead. “We expect the government to stick to its path of fiscal consolidation, without compromising on quality of expenditure. In the wake of weaker monsoon and pressure seen in Rabi sowing season, focus will be on providing support to rural growth. Important schemes such as PM-KISAN, MGNAREGA, Housing for all, free food grains, will continue to hold significant importance,” said <keyword id="20368299" type="General" weightage="20" keywordseo="sonal-badhan" source="keywords">Sonal Badhan</keyword>, economist at Bank of Baroda. If the rural economy gets a boost, it will be a positive for FMCG majors like HUL, Marico, Dabur whose volume growth has been sluggish for the last few quarters. It will also aid as well as <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero Motocorp</keyword>, M&amp;M, while continued infra push can be good news for L&amp;T, RVNL, IVRCL, Tata Power and more. Market experts also believe that if the government tightens its belts, and chugs along the path of fiscal discipline, it spells good news for global investors. Marzban Irani, CIO, Fixed Income at LIC Mutual Fund Asset Management worries that popular measures ahead of the elections may play spoilsport. "Normally, we do not expect any path breaking policy announcements in an interim budget. But there is always scope for unconventional moves. In my view, the Centre should try to adhere to the fiscal deficit target as it gives a clear signal to global investors,” Irani added.

Interim Budget 2024: Markets don’t expect big bang measures but hope infra & rural push to continue

<ul><li>Two wheeler sales are expected to grow at 15% for next two years, outpacing PVs.</li><li>Sales of 2Ws have been lagging behind PV sales for the last three years.</li><li>Margins of 2W companies are also expected to improve due to moderating metal prices, strong demand. </li></ul>Two wheeler sales are expected to see double digit growth for the next two years, outpacing passenger vehicles, says a report by <keyword id="19905137" type="General" weightage="20" keywordseo="jefferies" source="keywords">Jefferies</keyword>. Two wheelers are expected to grow at a 15% compounded annual growth rate (CAGR) while passenger vehicles and trucks are expected to grow at 7-8% CAGR. The research firm also believes that tractors are at the risk of a downturn after an elongated up-cycle. Their volumes are expected to fall by 9% FY24 and 5% in FY25, followed by a recovery in FY26. Amidst a mixed auto picture, two-wheelers are the preferred picks. “We enter 2024 reiterating our positive view on Indian autos with preference for two-wheelers. After the strong 2023 rally in autos, valuations are not cheap, but we believe premium multiples are justified in most cases for the strong growth outlook and company-specific positives,” said Jefferies. Its preferred buys are <keyword id="20036540" type="General" weightage="20" keywordseo="tvs" source="keywords">TVS</keyword> and Eimco Elecon, followed by <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>, Bajaj Auto and <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero Motocorp</keyword>. It also has buy ratings on Maruti and AL, but they’re lower in its pecking order. Turning tide: Sales &amp; profitability Jefferies believes that the tide has now turned for two wheelers after stressful pandemic years. The sales of two wheelers have been lagging behind passenger vehicles (PVs) for the last three years. “Compared to the respective FY19 peaks, FY23 volumes were 23% lower for 2Ws but 15% higher for PVs,” said Jefferies. In 2023, 2Ws started charting their recovery, and grew at 9.5% as compared to 11% growth seen in PVs, as per data by Federation of Automobile Dealers Associations (FADA). Experts also surmise that the year of 2024 will see a boost for two wheelers. “The two wheeler sector expects a boost from new model launches, especially in the first half of the year, and an overall better economic condition coupled with higher EV participation. Improved customer sentiments, due to factors like lower fuel prices and crop payments to farmers, are likely to drive demand,” said <keyword id="20117944" type="General" weightage="20" keywordseo="manish-raj-singhania" source="keywords">Manish Raj Singhania</keyword>, president of FADA in 2024 outlook. Improved margins; EV consolidation Strong demand and new launches are also expected to yield good margins for two-wheeler automakers. They have been stressed between FY21 and FY23 on weak demand as well as a rally in steel and aluminum prices. Commodity prices have turned benign since then which is expected to add to two-wheeler profitability along with sales. “Auto OEM margins are on an improving trajectory as rising demand is boosting pricing power and providing operating leverage benefit, amid a benign commodity price environment,” said Jefferies. Electric vehicle sales are also expected to push for more sales in the two-wheeler category in the coming year. As of the second half of 2023, EVs made up for 5% of the market. “While the reduction in EV subsidies in June 2023 has slowed down the pace of 2W electrification, tighter regulations and lower subsidies are driving consolidation,” opined Jefferies. Top four original equipment manufacturers hold around 80% market share in electric two-wheelers. In the ICE market, the top four players hold 86% of the market share. Two wheeler HHI (Herfindahl–Hirschman Index) is also converging with ICE, which should ease concerns on long-term profitability, says Jefferies. HHI is a measure of market concentration used to determine competitiveness in the market.

India’s auto sales to ride on two wheels in 2024

Mumbai (Maharashtra) [India], December 12 (ANI): The stock market continued its bullish streak as it opened in the green today, with both benchmark indices showcasing positive momentum. The Sensex surged 89.81 points, opening at 70,009.20, while the Nifty gained 35.25 points, starting at 21,032.35. Among the Nifty companies, the market exhibited strength with 39 advances and 10 declines. Notable gainers included <keyword id="472962" type="General" weightage="20" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword>, <keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword>, <keyword id="80292" type="General" weightage="20" keywordseo="sbi-life" source="Orion">SBI Life</keyword>, <keyword id="6357252" type="General" weightage="20" keywordseo="hero-motocorp" source="Orion">Hero Motocorp</keyword>, and <keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword>. Conversely, Eicher Motors, LT, Bharti Airtel, Coal India, and Infosys faced some selling pressure, emerging as the top losers. Varun Aggarwal, founder and managing director, Profit Idea, said, "The benchmark equity indices are poised for a positive opening on Tuesday, with the GIFT Nifty, an early indicator of the Indian equity market, trading at 21,142, up 10 points or 0.05 per cent. The Indian equity indices reached record highs on Monday, driven by favourable global cues, despite facing some selling pressure at elevated levels. The Sensex briefly crossed the 70,000 mark for the first time, while the Nifty achieved a new peak at 21,026.10". Despite the overbought technical conditions, Tuesday is poised for continued strength among Nifty bulls. Technical analysis suggests robust support for corrective declines, and there is an anticipation of reaching 21,500 in the inter-month perspective. Aggarwal said, "Despite overbought technical conditions, there is anticipation of continued strength among Nifty bulls on Tuesday. Technical analysis suggests robust support for corrective declines". Aggarwal said, "When considering market sentiment, fundamental factors, and technical analysis, there is a collective indication that Fear of Missing Out could propel the Nifty to 21,500 in the inter-month perspective. Wall Street is exhibiting bullish momentum, with the S&amp;P 500 reaching a new high in 2023". "Gold prices saw an uptick on Tuesday after touching a three-week low in the previous session. This rise is attributed to a weakening dollar, while investors are eagerly awaiting key U.S. inflation data and major central bank policy meetings for insights into potential interest rate changes", added Aggarwal. Market sentiment, fundamental factors, and technical analysis collectively indicate a prevailing Fear of Missing Out (FOMO), driving the Nifty to new highs. The bullish momentum extends beyond Indian markets, with Wall Street's S&amp;P 500 hitting new records in 2023. In parallel, gold prices experienced an uptick on Tuesday following a recent dip. This rise is attributed to a weakening dollar, and investors are eagerly awaiting key U.S. inflation data and major central bank policy meetings for insights into potential interest rate changes. As the market charts new territories, investors are navigating a landscape of optimism, with eyes on both domestic and global cues that shape the trajectory of financial markets. The records set in the opening minutes suggest that the positive sentiment is holding firm, setting the stage for another day of dynamic trading on Indian bourses. (ANI)

Stock market sustains positive momentum amid global optimism

New Delhi, The country's largest two-wheeler maker <keyword id="6357252" type="General" weightage="20" keywordseo="hero-MotoCorp" source="Orion">Hero MotoCorp</keyword> on Tuesday said it has received 25,597 bookings for the <keyword id="17521994" type="General" weightage="20" keywordseo="Harley-Davidson-X440" source="Orion">Harley-Davidson X440</keyword> till date. The booking window, which opened on July 4, has now been closed, and the new booking window will be announced soon, the company said in a statement. "It is heartening to see the confidence shown by the customers in Hero MotoCorp's foray into this segment. What is even more heartening is that the majority of our bookings are coming from the top end model, clearly indicating that customers are willing to pay a higher price for the right brand and right model," Hero MotoCorp CEO Niranjan Gupta said. This is just the beginning of the company's journey to win in the premium segment, he added. "More Iconic launches will follow soon, as we ensure our presence across the portfolio," Gupta noted. Hero MotoCorp said it will start production of the <keyword id="96419" type="General" weightage="20" keywordseo="Harley-Davidson" source="Orion">Harley-Davidson</keyword> X440 in September 2023 and commence customer deliveries from October onwards. The company has revised the introductory ex-showroom prices of the model. The Denim, Vivid and S variants are now tagged at Rs 2.39 lakh, Rs 2.59 lakh and Rs 2.79 lakh respectively. In October 2020, Hero MotoCorp and Harley-Davidson announced a partnership for the Indian market. As part of the deal, Hero MotoCorp has been mandated to develop and sell a range of premium motorcycles under the Harley-Davidson brand name in the country.

Hero MotoCorp receives 25,597 bookings for Harley-Davidson X440

The ED said that the three properties belonging to <keyword id="6320" type="General" weightage="20" keywordseo="Munjal" source="Orion">Munjal</keyword> were attached under the Prevention of Money Laundering Act, 2002. The ED probe found that Munjal got issued "foreign exchange or foreign currency" in the name of other persons and thereafter utilised the same for his personal expenditure abroad. "The foreign currency or foreign exchange was drawn from authorised dealers by an event management company in the name of various employees and thereafter handed over to Munjal's relationship manager," the ED said. It said that the relationship manager carried such foreign currency or foreign exchange in cash or card secretly for the personal expenditure of Munjal during his personal or business trips. "The modus was adopted to override the limits of US$ 2.5 lakh per annum per person under the Liberalised Remittance Scheme," the ED said. The ED had earlier conducted search operations on August 1 with respect toMunjal and related entities or persons, and seized valuablesworth Rs 25 crore along with digital evidence and other incriminating documents. "The total value of seizure and attachment stands at about Rs 50 crore," the ED said. The ED case is on the basis of a charge sheet filed by Directorate of Revenue intelligence (DRI) against Munjal and others for taking foreign exchange or currency out of India illegally. The charge sheet alleges that foreign currency or foreign exchange equivalent to Rs 54 crore was illegally taken out of India.

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

<ul><li>The two wheeler maker has surprised the market with three back to back launches.</li><li><keyword id="17516871" type="General" weightage="20" keywordseo="harley-davidson-x440" source="Orion">Harley Davidson X440</keyword> and <keyword id="17116192" type="General" weightage="20" keywordseo="karizma-xmr" source="Orion">Karizma XMR</keyword> in the premium segment are expected to help the company take on competition.</li><li>In August, it reported a 5.5% YoY rise in total sales to 488,717 units. </li></ul>In the last three months, Hero MotoCorp has positively surprised the market with three back to back launches of Passion Plus, <keyword id="6357453" type="General" weightage="80" keywordseo="harley-davidson" source="Orion">Harley Davidson</keyword> X440 and Karizma XMR. It also has three more launches in the pipeline across segments — all which brokerages hope will pull up its market share in the two-wheeler segment. The company also launched an entry level scooter Hero Xoom scooter earlier this year. “These launches are driving higher customer footfalls and are expected to have a positive rub-off on the existing and refreshed models,” said <keyword id="4244153" type="General" weightage="80" keywordseo="j-m-financial" source="Orion">J M Financial</keyword>. Just one or two product successes are sufficient to drive positive brand perception about HMCL – and that will enhance its overall appeal across its product portfolio, the brokerage adds. The commentary from the dealers is also encouraging as most of them across 13 states are seeing good sales in higher double digits. The festive season too is around the corner and the new launches should only take things forward. It has already reported a 5.5% rise in total sales in August rose 5.6% to 488,717 units, as compared to a year back. Riding back into the game Hero Moto’s Passion Plus, launched in June, is a refreshed version of one of India’s best selling bikes – and two of the latest launches are the premium segment. While the Harley Davidson X440, which came out in July, will take on the likes of <a href="https://www.businessinsider.in/business/auto/webstories/hero-karizma-xmr-210-vs-bajaj-pulsar-rs200-which-bike-should-you-buy-under-2-lakh/slidelist/103241906.cms">Triumph and Royal Enfield</a>, the latest <a href="https://www.businessinsider.in/business/auto/webstories/hero-karizma-xmr-210-vs-bajaj-pulsar-rs200-which-bike-should-you-buy-under-2-lakh/slidelist/103241906.cms">Karizma XMR</a> will take on Bajaj’s Pulsar. “Passion+ has been received well by customers and there is excitement around new premium launches. Customer enquiries for HD X440 remain high and bookings are further expected to increase with wider availability of the model in the network,” said J M Financial. More than Splendour Hero MotoCorp (HMCL) banked heavily on its biggest hit, the Splendor, which was India’s highest selling bike, for a long time. It was all well for the 39-year-old company until India started shifting towards the slightly more premium bikes being offered by Bajaj, <keyword id="94237" type="General" weightage="100" keywordseo="royal-enfield" source="Orion">Royal Enfield</keyword> and to an extent TVS. The inability to play in that segment (200 cc to 350/400 cc) meant that the competition vroomed ahead. “HMCL’s market share in the 125+cc motorcycle segment declined from 12% in FY13 to 3% in FY23 due to lack of premiumisation-focused new product launches,” said a report by J M Financial. Now, after taking time, and having signed a partnership with Harley Davidson, the bike maker is looking to bounce back. Hero’s launch pipeline has sporty or premium 125 110-125 cc motorcycles in the executive segment and they also plan another 125 cc scooter. All these launches will spell good news, brokerages believe. “New launches in the scooter segment, Super splendor and Passion Plus are getting good traction and HMCL is ramping up Glamour 125 for rural demand and model launches in the premium segment should help market share gains,” said a report by Prabhudas Liladher. The 2W demand pick up The two-wheeler demand itself has been muted for years now due to a muted rural market. Yet, most players have indicated that greenshoots are being seen in demand with steady government spending in rural areas due to general elections next year. As the market itself grows, HMCL with its new launches is expected to grow ahead of its peers. There is a huge replacement demand market in 2-wheelers which is expected to push sales. A few quarters back, the company was seeing replacement demand of 4-5%, and now it has reached 10%. “HMCL is seeing indication of strong demand in the rural market and is aiming to grow ahead of the industry on back of aggressive model launch cycle across categories and gain market share,” said a report by Prabhudas Liladher. It is also expanding the distribution of its EV two-wheeler Vida. It’s already present in 36 cities, and the count is expected to go to 100 by the end of the calendar year. It plans to launch new products from FY25 onwards. Even as EV sales are currently muted, the company expects to reach leadership position in this segment in the coming years — but for the medium term its ICE brands are also expected to gain speed. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

You Searched For "MotoCorp" and got 14 results

Festive season to drive over 15% growth in Indian Automobile Market, says report

BI India Bureau

Electric two-wheeler sales declined in August 2024, but year-on-year growth continues

Sourabh Jain

Hero MotoCorp gets over Rs 17 crore tax notice from Delhi GST authorities

PTI

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

ANI

Hero MotoCorp Q4 PAT up 16.7% at ₹943.46 crore

PTI

Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment

Sourabh Jain

Market resilience prevails: Sensex-Nifty rally to close higher despite initial slump

ANI

Hero MotoCorp logs highest-ever retail sales of over 14 lakh units in festive season

PTI

Interim Budget 2024: Markets don’t expect big bang measures but hope infra & rural push to continue

Katya Naidu

India’s auto sales to ride on two wheels in 2024

Katya Naidu

Stock market sustains positive momentum amid global optimism

ANI

Hero MotoCorp receives 25,597 bookings for Harley-Davidson X440

PTI

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

IANS

Hero MotoCorp set to take on Bajaj and Royal Enfield with fresh launches

Katya Naidu

Popular Keywords

Buying Guides