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<ul><li><keyword id="14027170" type="General" weightage="20" keywordseo="ambassador-maker-hindustan-motors" source="Orion">Ambassador maker Hindustan Motors</keyword> is looking to make a comeback in India.</li><li>The company has reportedly entered into a joint venture with an European electric vehicle maker.</li><li>The company will launch electric two-wheelers and cars in the country.</li></ul>Ambassador was one of the most iconic cars in India and was seen as a symbol of prestige in the country. Now, though, it is a relic of the past but its maker, <keyword id="132800" type="General" weightage="100" keywordseo="hindustan-motors" source="Orion">Hindustan Motors</keyword>, is reportedly looking to make a comeback by jumping onto the electric vehicles bandwagon. The auto industry across is now going through a revolution, with most major companies looking to introduce electric cars. While the electric vehicle industry is still in a nascent stage, Ambassador maker Hindustan Motors is reportedly looking to make a comeback in India with electric vehicles. According to a <a href="https://www.business-standard.com/article/automobile/hindustan-motors-plots-return-in-talks-for-jv-with-european-company-for-ev-122052400798_1.html">report</a> by Business Standard, Hindustan Motors, India’s first car maker, is looking to revive its business by entering into a joint venture (JV) with a European auto company from the EV industry. The iconic Ambassador car was manufactured by Hindustan Motors, which began production in 1958, ending it nearly 50 years later in 2014. <cmsannotation type="cmsannotation" annotationid="Equity discussions are underway" comment="subhead" text="Equity discussions are underway">Equity discussions are underway</cmsannotation> A memorandum of understanding (MoU) has reportedly been signed by Hindustan Motors and the required due diligence is expected to take around three months. Uttam Bose, a director of Hindustan Motors has said the companies are currently discussing the equity structure. In the current proposed structure, Hindustan Motors will own 51% of the stake and the unnamed European company will own the remaining 49%. <cmsannotation type="cmsannotation" annotationid="Hindustan Motors will re-enter with an electric scooter" comment="subhead" text="Hindustan Motors will re-enter with an electric scooter">Hindustan Motors will re-enter with an electric scooter</cmsannotation> Interestingly, the JV is not just focused on electric cars. The first vehicle from the company will be an electric scooter. Interestingly, this comes at a time when the sales of electric two wheelers are at an all time high and increasing rapidly. A report last month revealed that there has been a <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-surge-over-5-times-in-2021-22/articleshow/90775731.cms">five-fold increase</a> in the sale of electric scooters. While Hero Electric and Okinawa are at the top in the electric two-wheeler segment, Tata Motors is dominating the <keyword id="46640" type="General" weightage="20" keywordseo="electric-car" source="Orion">electric car</keyword> segment. “Initially, the project will launch two-wheelers and subsequently four -wheelers,” said Uttam Bose in a statement to Business Standard. <cmsannotation type="cmsannotation" annotationid="Electric vehicles to be manufactured in West Bengal" comment="subhead" text="Electric vehicles to be manufactured in West Bengal">Electric vehicles to be manufactured in West Bengal</cmsannotation> Initially, the electric vehicles will be manufactured at the company’s Uttarpara plant in West Bengal, where it stopped production in 2014. The company will use the 295 acres space that it has in Uttarpara. “We have the facility and the infrastructure and we want to sweat it out,” Bose added. It will be interesting to see the electric vehicles introduced by the Hindustan Motors and how the company competes with the existing players. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-avinya-renders-reveal-the-expected-design-of-the-concept-electric-car/articleshow/91765348.cms">Tata Avinya renders reveal the expected design of the concept electric car</a> <a href="https://www.businessinsider.in/business/auto/news/ather-450x-tvs-iqube-st-ola-s1-pro-and-other-electric-scooters-to-buy-in-india-in-2022/slidelist/91741854.cms">Ather 450X, TVS iQube ST, Ola S1 Pro and other electric scooters to buy in India in 2022</a> <a href="https://www.businessinsider.in/business/auto/news/tvs-new-iqube-electric-scooter-comparison-with-ather-450x-and-ola-s1-pro/articleshow/91657740.cms">TVS launches new iQube electric scooter in India – here’s how it fares against the Ather 450X and Ola S1 Pro</a>

Ambassador era relic Hindustan Motors looking to make a comeback with electric vehicles

<ul><li><keyword id="67893" type="PERSON" weightage="20" keywordseo="Dilip-Chhabria">Dilip Chhabria</keyword>’s company DC2, which was earlier called DC Design, has digitally redesigned the famous Indian <keyword id="2722" type="POSITION" weightage="20" keywordseo="ambassador">ambassador</keyword>.</li><li>DC2 has reportedly said that if it gets enough positive response on the car, it will produce. </li><li>Manufactured by <keyword id="132800" type="COMPANY" weightage="20" keywordseo="Hindustan-Motors">Hindustan Motors</keyword>, the car was in production for 29 years and finally bid goodbye to the streets in 2014. </li></ul>Dilip Chhabria’s company DC2, which was earlier called DC Design, has <a href="https://www.news18.com/news/auto/this-electric-hm-ambassador-rendered-by-dc2-makes-us-wish-it-was-a-reality-2559943.html">digitally redesigned</a> the famous Indian ambassador. The company has envisioned the ambassador in an electric version and it looks nothing like the classic version of the car. The pictures of the car have now gone viral. <div type="image" title="ambassador" msid="74966149" hostid="261"></div> However, the car is not being actually manufactured, well as of now. <a href="https://www.news18.com/news/auto/this-electric-hm-ambassador-rendered-by-dc2-makes-us-wish-it-was-a-reality-2559943.html">Report</a>s say that DC2 has confirmed that if it gets enough positive response, it will be taken to production. The Hindustan Ambassador is a classic Indian car and was one of the first cars to be actually made in India. Manufactured by Hindustan Motors, the car was in production for 29 years and finally bid goodbye to the streets in 2014. HM decided to stop manufacturing the car because of low demand and increasing financial issues. It had then <a href="https://www.ndtv.com/world-news/hindustan-motors-stops-production-of-ambassador-cars-563850">said it stopped production</a> due to “worsening conditions at its Uttarpara plant which include very low productivity, growing indiscipline, critical shortage of funds, lack of demand for its core product the Ambassador and large accumulation of liabilities." Ambassadors were also the top choice for Indian diplomats and was even considered as a ‘status symbol’ in the seventies and eighties. However, as sleeker foreign modelled cars started entering the markets, its popularity waned. See Also: <a href="https://www.businessinsider.in/business/auto/news/tata-motors-passenger-vehicles-and-electric-vehicles-will-now-come-under-a-new-subsidiary-says-business-ready-to-realise-its-true-potential/articleshow/74846539.cms">Tata Motors passenger vehicles and electric vehicles will now come under a new subsidiary – says business ready to realise its true potential</a>

Good ol’ ambassador has been redesigned into a swanky electric car

<ul><li><keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) and other public sector banks are cutting down staff to 50%. Canara Bank has suspended passbook printing services.</li><li>India’s largest truck maker, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, is scaling down operations at its Pune factory while promising full wages.</li><li><keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> (HUL), the country’s largest consumer goods company, has pledged ₹100 crore to fight the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> pandemic. </li></ul>As the Coronavirus pandemic worsens in India, with <a href="https://www.businessinsider.in/india/news/data-of-coronavirus-patients-state-wise-in-india/articleshow/74669748.cms">258 confirmed cases</a>, some of the biggest organisations are shoring up for a fight. The State Bank of India (SBI), India’s largest public sector bank, has instructed all branches to cut its staff to half. Government-owned Canara Bank is also suspending passbook printing services starting today, March 21. <a href="https://www.youtube.com/watch?v=nvzO3DFR478">Tata Motors</a>, the country’s biggest truck maker, is preparing to shut down its factory in Pune but will still give its daily workers full wages. Meanwhile, Hindustan Unilever (<a href="https://www.hul.co.in/news/press-releases/2020/hul-stands-with-the-nation.html">HUL</a>), the largest consumer goods company in India, has pledged ₹100 crore to fight Covid-19. State Bank of India — India’s largest public sector bank Public sectors banks can’t shut down, even amid fears of Coronavirus, because they provide an essential service. However, they are taking the necessary precautions to keep the infection from spreading. 
 
 <div type="image" title="SBI_edited" msid="74745911" hostid="261" caption="&amp;lt;p&amp;gt;SBI branch in Bhopal&amp;lt;/p&amp;gt;"></div>





 “It must essentially ensure that regular banking operations, support functions like ATMs, CACs [Client Adviser Competency Standards], alternate channels, and digital services are not interrupted” said SBI in its notice to employees. Half the employees will be working from home, and the other half will have to report for duty — without any loss of pay. The two groups will switch every alternate day. These instructions come into effect today, March 21 and will be enforced up to April 4. “Staff members who are not required to attend office on a particular day as per the roster drawn up, must ensure that they are available on telephone and mail at all times — and are available for duty in case of exigency,” said the circular. Some public sectors banks, like Canara Bank are implementing three day shifts instead. A new notice issued to Canara Bank today, March 21, has also asked branches to suspend all passbook printing services until futher notice to reduce the amount of contact between bankers and customers. "This message may be displayed in prominent places of branch premise from informing the same," said the memo sent to employees, seen by Business Insider. Tata Motors — India’s biggest truck maker Tata Motors, which also owns brands like Jaguar and Land Rover in India, is scaling down its operations as a measure to tackle Coronavirus. One of its biggest factories is in the worst-hit state in India, Maharashtra, where over 50 cases of the infection have been reported so far. 
	
	<div type="twitter" handle="TataMotors" handlename="Tata Motors" image="http://pbs.twimg.com/profile_images/899609798299205633/DZLt0_e2_normal.jpg" favoritecount="30" retweetcount="7" status="Our CEO &amp; MD, Mr. Guenter Butschek, shares insights on the recent outbreak of #Coronavirus. Explaining about the si… https://t.co/3dOQ0PFJXw" createdat="1584761144000" id="1241204315806527489"></div>





 Tata said it will be ready to close down its Pune plant by Tuesday. In addition, most employees will still get their wages. Tata Son Chairman N Chandrasekaran announced that all temporary and daily wage workers would be covered from March and April, even if they are unable to come into work due to self-isolation or quarantine. 
 
 <div type="image" title="tatamotors_edited" msid="74745944" hostid="261" caption="&amp;lt;p&amp;gt;Tata Motors factory in Pune&amp;lt;/p&amp;gt;"></div>





 HUL - India largest packaged consumer goods company HUL has its fingers in a lot of pies, but none is more important than soaps and disinfectants right now. In a bid to help fight the covid-19 infection, the company announced that its slashing the prices on all personal cares and home hygiene brands by 15%. This includes Lifebouy hand-sanitizers and hand wash, as well as Domex floor cleaners. 
 
 <div type="image" title="HUL_edited" msid="74745939" hostid="261" caption="&amp;lt;p&amp;gt;Lifebouy hand wash ad&amp;lt;/p&amp;gt;"></div>





 It’s also ramping up production of these items so that there is enough supply in the market as customers rush to stores to stock up on supplies. HUL also announced that it will donate 2 crore Lifebuoy soaps for free over the next few months “to the sections of society which need it the most”. See also: <a href="https://www.businessinsider.in/india/news/data-of-coronavirus-patients-state-wise-in-india/articleshow/74669748.cms">Coronavirus cases in India state wise: 258 infected, 23 cured and 4 dead</a> <a href="https://www.businessinsider.in/policy/economy/news/covid-19-cii-suggests-direct-cash-transfer-of-5000-to-20-crore-people/articleshow/74742855.cms">COVID-19: CII suggests direct cash transfer of ₹5,000 to 20 crore people</a> <a href="https://www.businessinsider.in/india/news/coronavirus-railways-puts-brake-on-709-trains-on-saturday/articleshow/74743005.cms">Coronavirus: Railways puts brake on 709 trains on Saturday</a>

From SBI, HUL to Tata Motors⁠— how some of India's top corporates are dealing with Coronavirus

Many international auto manufacturer are now looking forward to entering the Indian industry and the list includes auto giants like South Korea's Kia Motor, <keyword id="117665" type="CITY" weightage="20" keywordseo="Daihatsu">Daihatsu</keyword> from <keyword id="6374528" type="CITY" weightage="20" keywordseo="Toyota">Toyota</keyword>, PSA Group's Peugeot Citreon and three car makers from China, Beiqi Foton, <keyword id="64310" type="CITY" weightage="20" keywordseo="SAIC">SAIC</keyword> and Changan Automotive, who are devising an India strategy to be part of market set to be the third largest in the world by the end of the decade. 
 Reportedly, Kia Motor would be the first to announce its entry in India. The company is close to finalising the location in <keyword id="37102" type="COMPANY" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> for its plant and is set to launch its cars in India by 2019. Daihatsu and Toyota has just kicked off the emerging markets compact car company to plan products for the emerging markets like India while PSA Group will finalise its India partnership by 2018 with an eye on 2020-2021 roll-out. 
 
Chinese automaker, Beiqi Foton which originally acquired a land in Chakan, Pune, to enter the Indian commercial vehicle space, decided to shift focus and bring in passenger vehicles under Borgward brand. The company has already started discussing with vendors a plan to localise a large Van and clutch of SUVs in India by 2019-2020. 
 <keyword id="4581" type="CITY" weightage="20" keywordseo="general-motors">General Motors</keyword>' Chinese joint venture partner, Shangai Automotive Industry Corporation or SAIC Motor Corporation Limited, is feverishly negotiating with <keyword id="44666" type="COMPANY" weightage="20" keywordseo="General-Motors-India">General Motors India</keyword> to acquire the latter's Halol facility. The negotiation is expected to conclude soon. 
 Experts feel that the Indian market will see cumulative 60 million cars hitting the roads in the next one decade and clearly they won't be from the <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> and <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword> stables alone. 
 
"With Chinese market correcting itself and a lot of matured markets seeing marginal growth, India is on everyone's radar. Not only will the market expand, there will be more choices and the competition will further intensify, thereby making consumers the winner,' Gaurav Vangaal, senior analyst for forecasting at IHS Markit Automotive, told ET. 
 
"As we have yet to formally announce any final decision to enter the Indian market, I am afraid that we cannot comment nor confirm any of the rumors as such,” a spokesperson for Kia Motor, told ET. 
 PSA Group Chairman Carlos Tavares had recently confirmed that India is part of its Push to Pass mid-term plan. The company is learnt to have had talks with Mahindra &amp; Mahindra, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, General Motors India and <keyword id="132800" type="COMPANY" weightage="20" keywordseo="Hindustan-Motors">Hindustan Motors</keyword> for contract manufacturing in India. It is likely to produce cars on contract manufacturing but will sell the cars through its own independent outlets, said one of the eight people cited above. Once the partnership is finalised in 2018, PSA is likely to start selling cars by 2020-2021. 
 
Come October 2017, Indian safety standards are set to be overhauled, which will mandate a frontal and a side crash, making cars more safer and would have a fuel efficiency norm with star rating, which is in the pipelne and finally the biggest change in terms of stringent BS VI emission norms to be implemented by 2020, all this will align Indian market with global stage, which may have led to increased interest say experts.

Half a dozen international car makers are hoping to enter the Indian market. Here’s why

For the kids born in 70s and 80s, ambassador wasn’t just a car. At a time with limited options in four-wheelers, ambassadors were a sign of luxury for those who could afford it. A car that has carried our Prime Ministers and Presidents for ages has already stopped its productions a few years back. And now as the final nail on the coffin, the C K Birla Group-owned Hindustan Motors just sold the brands and trademarks to Peugeot SA Group. 
 
The deal has been formalised at Rs 80 crore. 
 
It is not known whether the French car maker Peugeot may use the brand to sale cars in India. 
 
Modelled after the British Morris Oxford, the Ambassador was the first car to be made in India and was once a status symbol, but began losing its dominance in the mid-1980s when Maruti Suzuki introduced its low-priced 800 hatchback. It lost further cachet and market share when global automakers began setting up shop in India in the mid-1990s, offering models with contemporary designs and technology. The Ambassador has remained the choice of a dwindling share of bureaucrats and politicians, usually in white with a red beacon on top and a chauffeur at the wheel. It is also still in use as a taxi in some Indian cities including Kolkata. 
 
Despite its British origins, the Ambassador is considered as a definitive Indian car and is fondly called the "king of Indian roads". The automobile was manufactured by Hindustan Motors at its Uttarpara plant in West Bengal.

Hindustan Motors just sold
iconic ambassador brand to Peugeot. The deal price will shock you

Just when the wind of change was sweeping across India and Narendra Damodardas Modi-led <keyword id="14666" type="ORGANIZATION" weightage="100" keywordseo="BJP">BJP</keyword> was getting elected to power, a part of India’s legacy folded up, probably never to return again. But the legacy had nothing to do with the monarchy of India or the country’s historical diamonds even though the latter had graced the overseas museums for long. No, the legacy was all about India’s very own love affair with automobiles. 
 It was a day that would go down in the history of modern India. The iconic <keyword id="2722" type="POSITION" weightage="80" keywordseo="ambassador">Ambassador</keyword>, manufactured by <keyword id="132800" type="COMPANY" weightage="100" keywordseo="Hindustan-Motors">Hindustan Motors</keyword>, ended its journey on May 24, at the factory that once rolled out the puffed-up version of Great Britain’s long-defunct <keyword id="309121" type="PERSON" weightage="100" keywordseo="Morris-Oxford">Morris Oxford</keyword>. India has been driving these cars manufactured at Uttarpara in West Bengal since 1957. 
 But the decision to stop production was taken after the abysmal drop in sales figures of <keyword id="1236214" type="UNKNOWN" weightage="100" keywordseo="Ambassador-cars">Ambassador cars</keyword>. Only 2,200 units were sold in the last fiscal even though <keyword id="25903" type="ORGANIZATION" weightage="40" keywordseo="Indians">Indians</keyword> bought nearly 1.8 million four-wheelers during that period. With business hitting rock bottom, the writing was already on the wall and Ambassador had to wrap up its journey. 
 
The only breather is a statement from Hindustan Motors that says: Production closed until further notice. Does it signify chances of resurrection? That just might be the case – at least those who want to cling to some ray of hope believe so. Most of the fans believe that the beautiful, bountiful Ambassador will be back on the Indian roads again. 
 
As we all know, a car signifies mobility and class. But in the case of Ambassador, it was not a mere vehicle that carried people from point A to point B. In those early days, when India was just waking up to the fact that it was a free state and scales of hierarchy had to be created from the starting point onwards, the Ambassador played a very significant role in fixing that scale. 
 In fact, Ambassador spoke the language of metaphors. It signified ego, power, money, class, close-knit families and much more. It was the tugging string that still linked us to <keyword id="988054" type="COMPANY" weightage="100" keywordseo="British-India">British India</keyword>. It was also about the all-powerful babudom that had taken over (it was the ultimate status symbol for every government official and even the elected representatives of the country). 
 At a time when branding was never done by hired agencies, Ambassador stood for majesty and elegance. When on the move, it could easily attract a glance of appreciation from all and sundry and ruled the Indian roads for nearly three decades till it was done in by a low-cost hatchback. The Ambassador began to lose its sheen from the 1980s when <keyword id="44883" type="CITY" weightage="100" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> introduced its first <keyword id="43041" type="COMPANY" weightage="100" keywordseo="Maruti-800">Maruti 800</keyword>, touted as the people’s car. 
 The Ambassador manufacturers had failed to see the fast-changing consumer map pervading the entire country. We no longer had cities with large joint families. <keyword id="400822" type="UNKNOWN" weightage="100" keywordseo="Industrialisation">Industrialisation</keyword> had started to eat into the family space and migration in search of greener pastures had begun in villages and semi-urban areas. Joint families had begun to move out with their ‘share’ of property. The phrase ‘invasion of privacy’ had just entered lives, with the term privacy gaining its own definition. 
Image: Wikipedia

RIP Ambassador: India Won’t Be The Same Without You

Kolkata based <keyword id="132800" type="COMPANY" weightage="20" keywordseo="Hindustan-Motors">Hindustan Motors</keyword> Ltd has appointed Bhikam Chand Mishra as its chief financial officer. The company made the announcement in a disclosure to the Bombay Stock Exchange. The auto maker of the iconic ambassador car has appointed Mishra as the CFO of the company for the next two years. 
	 According to Mishra’s Linkedin profile, has earlier served the Hindustan Motors as general manager (corporate finance). It should be noted that the auto maker has declared ‘Suspension of Work’ at its <keyword id="364521" type="CITY" weightage="20" keywordseo="Uttarpara">Uttarpara</keyword> plant for over 2000 employees since May 2014. The company has attributed the massive lay off to “low productivity, growing indiscipline, shortage of funds and lack of demand of products’. 
	 “Based on legal opinion obtained, the employees and the workmen, falling under the purview of ‘Suspension of Work’ are not entitled to any salary or wages during that period and accordingly, the Company has not provided for such salary and wages,” the auto maker told <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword>. 
	 
	It further added that since there have been several employee agitations, the company does not have access to documents pertaining to operational and financial matters. “The government of West Bengal has alleged that the company had realized an excess sum of Rs 19,447 lakhs from the sale of 314 acres of land at Hindmotor, West Bengal, in earlier years and it should refund the said amount with interest thereon. The company has been legally advised that there is no liability to make any payments against the alleged demand. 
	 
	The company has also made an exit from its Corporate Debt Restructure (CDR) programe by allotting securities and making a payment of balance of Rs 640 lakh to the lenders. 
	 
	Image: Indiatimes.com

Hindustan Motors
Appoints CFO Amidst Lay Offs

From Adani Group to Tata Motors and banks ⁠— these 17 stocks have already lost over 10% in last one month

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

<ul><li>The average aggregate demand in China was back to 81% of the pre-pandemic normal as of April 24. </li><li>The demand for consumer staples in China is back to the levels seen before COVID-19 brokeout. </li><li>The relative lag is in consumer discretionary, which, on average, is about 64% of the normal level at the end of April.</li></ul>Global investment bank Goldman Sachs said that most of the reforms announced by the Indian government will have an impact in the medium term while the short term may see a "deeper recession". The country's real GDP growth may fall 5% in the current financial year ending March 2020, the report added. The COVID-19 outbreak happened earlier in China and therefore, it has reduced and the economy is reopening earlier than other parts of the world. Therefore, the recovery trends in China could be a good cue for countries, especially emerging markets like India, to estimate what the post-COVID economic trends might be. China’s equity research team of Goldman Sachs put together a tracker that tracks consumer and industrial demand across China, as the official stats come with a few days lag. The tracker revealed steady growth in China’s economy. “if we really look at the most recently updated, the average aggregate demand, the level average to about 81% as of April 24. So that’s our last, the data points updated and this is a versus the bottom in February, which is only around 50%. Back in January we were at about 90%. So the pace of the recovery was quite rapid from February to March in the first month of activity resumption,” said Trina Chen, Co-head at Goldman Sachs China’s equity research. <div type="Article" hostid="261" msid="75785648" title="Indian firms can now directly list in foreign markets – there are a few more big changes to Companies Act" mstype="2" mssubtype="0"></div> Consumer staples and construction are recovering the fastest. “Consumer staples are food-related demand, essentially demand that has little disruptions and recovered very quickly after the disruption in February in China. Construction was quite depressed back in February, but because of government policy push, so, it’s now back to the pre-virus level, even a little bit higher than the pre-virus level,” Chen said. <div type="Youtube" id="07Hfxy17REU" title="The Daily Check-In: Tracking China’s Economic Recovery" thumbUrl="https://i.ytimg.com/vi/07Hfxy17REU/mqdefault.jpg"></div> This will be good news for the likes of consumer products makers like Hindustan Unilever (HUL) and Marico as well as retailers like D-Mart and Reliance Retail to name a few. For Sanjiv Mehta, CEO of Hindustan Unilever, who had <a href="https://www.businessinsider.in/policy/economy/news/hul-ceo-had-hoped-for-a-v-shaped-economic-recovery-from-covid-19-crisis-but-investors-fear-a-lot-worse/articleshow/75547375.cms" data-type="tilCustomLink" target="_blank">expected a V-shaped recovery in April</a>, this data from Goldman Sachs will be vindication. <table style="width: 156pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:87pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emami</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-30.77%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Godrej Consumer</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-12.29%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">HUL</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.89%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marico</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4.73%</td> </tr></tbody></table> The relative lag is in consumer discretionary, which, on average, is about 64% of the normal level at the end of April, according to Goldman Sachs. That indicates a relatively slow recovery for car makers like <a href="https://www.businessinsider.in/business/corporates/news/maruti-suzuki-share-price-as-q4-profit-falls-28/articleshow/75715791.cms" data-type="tilCustomLink" target="_blank">Maruti, Tata Motors and M&amp;M</a> who have been struggling with declining sales for over a year now. <table style="width: 138pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:69pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Motors</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-50.12%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">M&amp;M</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-27.09%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Maruti Suzuki</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-26.23%</td> </tr></tbody></table> However, China hasn’t fully recovered to pre-COVID levels, as some of the businesses aren’t still fully functional like airlines and theatres. Air travel and tourism business continue to remain weak. <div type="Article" hostid="261" msid="75785709" title="India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players" mstype="2" mssubtype="0"></div> Even in India, hospitality majors <a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms" data-type="tilCustomLink" target="_blank">OYO and Mahindra Holidays have changed their post-COVID strategy</a> on the premise that people are not going to be flying abroad anytime soon. Both companies believe that people will prefer to travel to places that are within driving distances, and not those where they will have to take a flight to, even after the lockdown is lifted. <table style="width: 166pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:97pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 69pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">SpiceJet</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-48.85%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Interglobe Aviation</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-31.62%</td> </tr></tbody></table> The box office and casino businesses are down due to people avoiding public gatherings. “So these are kind of the differences within the customer discretionary. But, having said that overall we still see a couple of percent improvement, each week sequentially on is probably the most important sector,” said Chen. <table style="width: 154pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:77pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 77pt;">Last 3 months</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Inox</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-59.19%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">PVR</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-58.90%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Delta Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.20%</td> </tr></tbody></table> Over the past weeks, India has started to relax the lockdown norms, but epidemiologists and public <a href="https://www.businessinsider.in/india/news/india-will-see-multiple-waves-of-covid-19-infections-every-few-months-but-thats-not-a-reason-to-panic/articleshow/75707889.cms">health experts warn that it could result in another outbreak.</a> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-adani-gmr-gvk-share-price-may-gain-after-civil-aviation-reforms/articleshow/75775888.cms">Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for</a> <a href="https://www.businessinsider.in/india/news/hindalco-jspl-coal-india-companies-that-will-benefit-from-nirmala-sitharamans-reforms/articleshow/75775443.cms">Hindalco, JSPL, Adani, Coal India, and many more stocks that can benefit from India’s sweeping reforms in coal and mineral sector</a> <a href="https://www.businessinsider.in/science/space/news/lt-and-godrej-join-like-boeing-and-lockheed-martin-ula-after-biggest-space-reform/articleshow/75778037.cms">"Now, L&amp;T and Godrej can join hands like Boeing and Lockheed Martin’s ULA," says Gateway House scholar cheering India’s 'biggest space reform'</a>

Goldman Sachs’s China recovery data can spark hope for HUL and D-Mart, and make Maruti, Tata Motors and IndiGo more anxious

French automobile manufacturer <a href="http://www.businessinsider.in/searchresult.cms?query=PSA+Peugeot+Citroen">PSA Peugeot Citroen</a> is planning to make its way to India. Reports suggest that Peugot is currently in talks with <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> to forge a partnership under which Tata Motors will produce and distribute Peugeot cars in India. 
 
Moreover, the two companies may also share their engine technologies. Tata’s Sanand plant in Gujarat will make cars for the French giant if things work out between the duo, reported The Economic Times. However, the news hasn’t been confirmed by the involved companies yet. 
 
Official sources told the business daily that PSA is looking for a tie-up with a reputed local carmaker that has its own product, popular brand recall and spare parts distribution reach. This clearly hints at Tata Motor’s Sanand plant, which has ample capacity to meet the French automaker’s requirements. 
 
The PSA Group, however, didn’t respond to an email seeking comment while a <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Motors">Tata Motors</a> spokeswoman said that her company doesn't comment on future product plans, capacity expansion or utilisation. 
 
The internal sources who do not want to be named said that Emmanuel Delay, head of India Pacific Operation at the PSA Group, is steering discussions with senior executives of Tata Motors, including president and head of product engineering Tim Leverton and chairman Cyrus Mistry. 
 
Delay recently visited Bombay House, the Tata headquarters in Mumbai, to discuss the contours of a deal. Initial discussions were held between the two at the recent Frankfurt show and Tavares is understood to have given a clear mandate to Delay to fast track the India plans, they said. 
 
PSA held talks with other car makers including Mahindra &amp; Mahindra, General Motors as well as Hindustan Motors, but Tata Motors is likely to be the main contender. 
 As part of wider discussions, even the possibility of PSA sharing the high-tech DW10 2-litre diesel engine with Tata Motors-owned <keyword id="42034" type="COMPANY" weightage="20" keywordseo="Jaguar">Jaguar</keyword> <keyword id="44719" type="PERSON" weightage="20" keywordseo="Land-Rover">Land Rover</keyword> is being considered. 
 
PSA had hired a consultant to chart its India comeback plan. Its proposals are likely to be submitted to Tavares before the end of 2015. 
 Image: thinkstock

This French carmaker is coming to India soon!

<ul class="summary-list"><li>Ukraine has received hundreds of so-called "cardboard drones" from Australia.</li><li>The Corvo PPDS is cheap, comes flat-packed, and can be built in an hour, its maker says. </li></ul>A low-cost "cardboard" drone that arrives flatpacked and is held together with rubber bands is giving Ukraine an unexpected edge on the battlefield.It's called the Corvo Precision Payload Delivery System, or PPDS for short, and is made by the Australian company SYPAQ.It has been in Ukrainian hands since March, when the Australian government announced it would send at least 100 per month as part of a $20 million aid package, <a href="https://www.theaustralian.com.au/nation/cheap-australian-drones-made-of-cardboard-helping-ukrainian-troops/news-story/72e4913bc4f34c2b3fbfc8921fc2bc58?amp&amp;nk=99754c0dbc039dbcb7924d82bb8a25b4-1679402875" target="_blank" rel="noopener">The Australian reported</a>. <a href="https://corvouas.com.au/wp-content/uploads/CORVO-PPDS-web-version-23082023-compressed.pdf" target="_blank" rel="noopener">According to SYPAQ</a>, the drone arrives in a package some two and a half feet long — and isn't much more complicated than an IKEA product.But the low-tech framework is packed with a military-grade guidance system.SYPAQ says it's quick to assemble the drone from its parts: a lightweight board frame, a propeller unit, and an avionics system which soldiers can program with a target location. The drone can carry up to 6.6 pounds, making it useful for dropping off medicines or ammunition.To adapt it for reconnaissance, soldiers simply "cut a hole" in the drone for a camera to see through, SYPAQ manager Michael Partridge <a href="https://www.theregister.com/2023/04/07/corvo_cardboard_drone/" target="_blank" rel="noopener">told IT-focused news outlet The Register</a>. The finished build has a wingspan of around six and a half feet. It is so light it can be launched by catapult, or literally by being thrown like a giant paper plane, <a href="https://www.youtube.com/watch?v=-k-2W23s3Ys" target="_blank" rel="noopener">according to Australia's 7News</a>.At a reported cost of around $3,500 each, they're cheap by military standards.<div type="image" title="A drone, made from a lightweight material that resembles carboard, in the air" height="1000" width="2000" msid="103215868" hostid="261"></div>Depending on its payload, it travels at around 37 miles per hour, and has a range of up to 75 miles. And when it arrives, soldiers can simply retrieve the cargo, detach the propeller and avionics module, and throw away the frame. Although it's known as the "cardboard drone," there's conflicting information as to what its main framework is actually made of.Partridge told The Register that it's made of waxed cardboard — a description repeated in nearly all media reporting so far. In <a href="https://www.sypaq.com.au/news/sypaq-supporting-ukrainian-armed-forces/" target="_blank" rel="noopener">a recent announcement</a> the company coyly said it's "known as the 'cardboard plane.'" <a href="https://corvouas.com.au/wp-content/uploads/CORVO-PPDS-web-version-23082023-compressed.pdf" target="_blank" rel="noopener">But a product specification</a> uploaded on the company's website, likely in late August, describes it as being made from lightweight foldable foam board, which appears to match some images. SYPAQ did not immediately respond to Insider's request for clarification, sent outside of working hours. Cardboard is "transparent to radar, so harder to spot," Oklahoma State University drone researcher Jamey Jacob <a href="https://www.popularmechanics.com/military/aviation/a43432035/ukraine-cardboard-drones-stealth/" target="_blank" rel="noopener">told Popular Mechanics</a>."The radar will pick up things such as electric motors, batteries, and propellers, but not the cardboard," Jacob said.That potential capacity for extra stealth gained media attention this week when Ukraine's ambassador to Australia echoed claims by a prominent Russian military blogger that they were used <a href="https://www.businessinsider.com/ukraine-says-struck-5-russian-jets-drones-made-cardboard-2023-8?r=US&amp;IR=T">to attack a Russian airfield</a>.Several details of the attack remain unconfirmed — including whether Corvo PPDSs were even involved — but the airfield was just within the drone's reach from Ukraine.Per the <a href="https://t.me/fighter_bomber/13797" target="_blank" rel="noopener nofollow">pro-Russian Telegram channel @fighter_bomber</a>, Ukraine used a swarm-like formation of several unarmed Corvo PPDSs amidst drones packed with bombs, helping the swarm evade radar. Outlining another potentially destructive use of the drone, the former Australian general Mick Ryan <a href="https://www.theage.com.au/politics/federal/aussie-cardboard-drones-used-in-attack-on-russian-airfield-20230829-p5e0bv.html" target="_blank" rel="noopener nofollow">told Australia's The Age newspaper</a> that it would be east to adapt the Corvo to carry explosives. SYPAQ has not responded to several previous media requests for comment on whether it's been used in lethal or destructive missions, but in March Ukraine's ambassador to Australia Vasyl Myroshnychenko told 7 News Australia that: "I know it's been used for those purposes," without specifying further.

Ukraine is fielding new $3,500 'cardboard' drones against Russia &mdash; they're flat-packed and could prove deadly

Google-owned music streaming platform <keyword id="1308911" type="General" weightage="100" keywordseo="youtube-music" source="Orion">YouTube Music</keyword> next is likely testing suggestion chips to filter what appears. According to 9To5Google, just below the bar noting what radio users are playing from, there is a carousel of filters that they can tap to customise with plays next in Up next. "All" is the default and joined by "Familiar," "Recommendation," and "Instrumental". As per one user on Reddit, the filter pills vary by song and they only mention it appearing for radio-generated queues. This should let users find more songs to listen to without having to browse the Home feed. As per the report, that can be ideal when a user's current radio queue is great, but they. want more variety. Overall, it lets people stay in the Now Playing UI, which is the fastest way to start another song. This view is getting slightly more busy and cluttered, but it is still pretty straightforward, the report said. At the moment, there is only one report on <keyword id="10879" type="General" weightage="20" keywordseo="youtube" source="Orion">YouTube</keyword> Music's new ability to filter radio queues, the report mentioned. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-to-find-out-how-much-you-have-spent-on-swiggy-so-far/articleshow/91810447.cms">How to find out how much you have spent on Swiggy so far</a> <a href="https://www.businessinsider.in/business/auto/news/ambassador-maker-hindustan-motors-looking-to-make-a-comeback-with-electric-vehicles/articleshow/91789649.cms">Ambassador era relic Hindustan Motors looking to make a comeback with electric vehicles</a>

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