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<ul><li>Foreign portfolio investors (FPIs), domestic mutual funds are raising their stake in multiplex firms like Inox Leisure, PVR on hopes of <keyword id="9450879" type="UNKNOWN" weightage="20" keywordseo="theatres-reopening">theatres reopening</keyword> soon.</li><li>Investors cheered this development as shares of both multiplex stocks gained on July 27.</li><li>Analysts expect the multiplex industry to gradually recover in the second half of FY22.</li></ul>Multiplex chains, which are among the worst hit by the pandemic have finally found some hope as <keyword id="46604" type="PERSON" weightage="20" keywordseo="theatres">theatres</keyword> are reopening as COVID-19-induced restrictions are being relaxed. <a href="https://www.livemint.com/news/india/maharashtra-shops-may-open-for-longer-hours-as-govt-set-to-relax-some-restrictions-this-week-11627264968238.html">Reports </a>said that Maharashtra government may announce more relaxations in the pandemic-related curbs, this week, imposed during the second wave of the coronavirus pandemic in the state. Moreover, the Delhi government on July 24 announced a slew of unlocking measures and allowed the cinema halls and theatres, and multiplexes to function with 50% capacity. Shares of Inox Leisure and PVR gained 6% and 1.3% respectively on July 27 at 12:51 p.m. Foreign portfolio investor (FPI) holdings in Inox Leisure have <a href="https://www.thehindubusinessline.com/markets/stock-markets/fpis-mfs-increase-stake-in-pvr-inox-leisure/article35546798.ece">reportedly</a> gone up by 8.09% year-on-year to 16.44% as of April-June 2021 from 9.53% in the same quarter last year. Also, mutual funds’ holdings also went up to 23.09% from 19.72% during the same period. Also, a <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-eyes-potential-stake-in-indias-inox-leisure-report/articleshow/84782764.cms">report</a> by Indian Express suggested that Amazon.com India is in talks with several domestic players in film and media distribution including Inox Leisure for a potential stake. It may be looking to expand its content streaming platform Prime Video. Reacting to the report, Inox Leisure released a statement on exchanges saying there are no discussions taking place with Amazon, nor were there any such discussions in the past. It stated the news report was factually incorrect. <div type="image" title="inox stock chart" height="900" width="1200" msid="84785863" hostid="261"></div> A report by Sharekhan Research expects gradual recovery in this space while it said multiplex business is going to be a sustainable model in the long term. “Expect gradual recovery over the next 2-3 quarters as COVID vaccination is catching pace… We believe the multiplex business is going to be a sustainable model in the long term given Indian movie-goers’ strong appetite for the silver screen… We continue to remain positive on the stock, given a net debt-free balance sheet and potential for healthy earnings growth over FY21-FY23,” said a report on Inox Leisure published on April 29. <div type="image" title="PVR stock chart" height="900" width="1200" msid="84785899" hostid="261"></div> Meanwhile, a report by Maybank Kim Eng Securities on PVR dated June 3 said it sees a threat from over the top (OTT) platforms witnessing direct release on their platforms. It hopes big movies will release on box office and not on OTT. “We factored in 67 million footfalls in FY22 estimates, as we expect a weak recovery in footfalls even during second half of FY22 which is contingent upon the government’s vaccination drive and reaching herd immunity, strong content pipeline -- key movies such as ‘Sooryavanshi’, ‘Lal Singh Chaddha’ and ‘83’ release on box-office and not on OTT,” said the report. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musks-tesla-second-quarter-earnings-show-that-its-bitcoin-holding-cost-the-company-23-million-in-impairment/articleshow/84784933.cms">Elon Musk’s Tesla second-quarter earnings show that its Bitcoin holding cost the company $23 million in impairment </a> <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’ </a>

Inox Leisure, PVR stocks shine on hopes of theatres reopening soon

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="https://www.youtube.com/watch?v=aXFkREnrWUY">YouTube</a>The Maytag Repair Man</div></div></div>In a fascinating new 47-page research note, Goldman Sachs analyst Patrick Archambault raises his 6-month price target on Tesla to $200.
Tesla closed at $233.98 on Monday.
It's tempting to value Tesla relative to other automakers and original equipment manufacturers, but it's clear that the market is trading the stock like it belongs to a true game-changing company.
With that in mind, Archambault takes a somewhat unorthodox approach to deriving his price target.
"We quantify the option value of Tesla shares through a deep dive into the lessons learned from past disruptive technologies as well as the opportunity from stationary storage," he said.
"To measure what is truly transformational, we need draw on the experience of past technologies like the iPhone, the Ford Model-T, and selected consumer durables like refrigerators/laundry appliances/dishwashers."
Here's a summary:
If Tesla's auto business were to be truly disruptive (to the whole auto industry, not just luxury vehicles), then there would be considerable upside. Keying off the history of the iPhone, (adjusting for the replacement cycle) would imply 3.1mn units by 2025 and a PV of $442 per share. The Model-T trajectory implies 3.3mn units and $478 per share; and the volume implied by a basket of transformative durable goods (laundry appliances/dishwashers/refrigerators) gets us 1.8mn units and $329 per share. However, this is offset by our base case (broadly unchanged from our previous forecast) and a downside case where Tesla's present value is lower and hence we arrive at probability weighted share price of $180 for the auto business alone.
And then there's Tesla's hopes to change the energy storage industry:
We think the opportunity in stationary storage is significant. With plans to bring battery pack costs down to $125/KWh once the gigafactory is fully ramped, the math works to get to positive NPV projects on the commercial side, and widespread grid parity on residential solar may not be that far off, even without ITC and state tax credits. Based on the economics of the 15 GWh of capacity devoted to storage, we get to $1.33 of earnings accretion, from which we derive an additional PV of $20, bringing our six-month price target to $200.
With all that in mind, the $200 price target implies 14.5% downside.
Here's a summary of Archambault's model:
<div class="KonaFilter image-container display-table"><div><div class="image">Goldman Sachs</div></div></div>

Goldman Compares Elon Musk To Steve Jobs, Henry Ford And The Maytag Repairman

Retail sales of overall vehicles in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> grew by 15.28 per cent to 2,11,20,441 units in 2022 led by record sales of passenger vehicles and tractors, <keyword id="1692051" type="General" weightage="50" keywordseo="federation-of-automobile-dealers-associations" source="Orion">Federation of Automobile Dealers Associations</keyword> (<keyword id="354719" type="General" weightage="100" keywordseo="fada" source="Orion">FADA</keyword>) said on Thursday. In 2021, total retail sales of vehicles in India were at 1,83,21,760 units, FADA said in a statement. Two-wheelers retail sales stood at 1,53,88,062 units last year, a growth of 13.37 per cent from 2021 when sales stood at 1,35,73,682 units. Passenger vehicles (PV) retail sales were at 34,31,497 units in 2022, as against 29,49,182 units in 2021, up 16.35 per cent, it added. FADA President Manish Raj <keyword id="1114" type="General" weightage="80" keywordseo="singhania" source="Orion">Singhania</keyword> said, "For CY2022, while total vehicle retails grew by 15 per cent year-on-year and 17 per cent compared to CY20 it failed to surpass CY19 retails, (a pre-Covid year) and registered a fall of 10 per cent." He further said, "The PV category during this period continued to gain new grounds by clocking 34.31 lakh retails during the full year. This is by far, the highest retails which PV has done till date." Singhania, however, lamented that the two-wheeler segment once again failed to impress as retail sales during December 2022 continued to fall after two good months. "Reasons like rise in inflation, increased cost of ownership, rural market yet to pick up fully and increased EV sales, the ICE (internal combustion engine) two-wheeler segment is yet to see any green shoots," he added. In 2022, commercial vehicles retail sales stood at 8,65,344 units, as against 6,55,696 units in 2021, a growth of 31.97 per cent. "The CV segment has continued to grow during entire CY2022 and is now almost at par with CY2019 retails. With an uptick in demand in LCV (light commercial vehicles), HCV (heavy commercial vehicles), buses and construction equipment, the government's continued push for infrastructure development has kept this segment going," Singhania said. He also said the three-wheeler segment which was completely down during <keyword id="8764262" type="General" weightage="50" keywordseo="covid" source="Orion">Covid</keyword> has recovered well and has narrowed its gap when compared to CY2019. "Within the segment it's the electric rickshaw sub-segment which is showing triple-digit growth thus pushing the EV market share above 50 per cent mark," he added. Three-wheeler retail in 2022 stood at 6,40,559 units, as compared to 3,73,562 units in 2021, up 71.47 per cent. Singhania said the tractor segment was the only other segment apart from PV which has grown well above calendar years 2021,2020 and pre-Covid year of 2019. "It has also registered a new lifetime high sales of 7.94 lakh units. This feat was possible due to consistently good monsoon, improved cash flow with farmers, better MSP of crops and government's focus on better procurements," he added. Tractor retail sales in 2021 were at 7,69,638 units. Apart from this, timely sowing of rabi crops also helped to continue this momentum. Festive season sales which were normal after 3 years also played its part in this strong momentum, Singhania said. In December 2022, FADA said the total vehicle retail sales were down 5.4 per cent at 16,22,317 units as against 17,14,942 units in the year-ago month. Two-wheelers retail sales stood at 11,33,138 units last month, as against 12,75,894 units in December 2021, a decline of 11.19 per cent, FADA said. Passenger vehicle retail sales were at 2,80,016 units as compared to 2,58,921 units in December 2021, up 8.15 per cent, while commercial vehicles segment witnessed retail sales of 66,945 units as compared to 60,491 units in December 2021, a growth of 10.67 per cent. On the outlook, FADA said global geopolitical headwinds, tightening monetary policy and the lingering effect of the pandemic have combined to create a gloomy global outlook. "Auto OEMs have done routine price hikes in December and have announced the same at the beginning of this year. Apart from this, BS-VI phase II norms coming in, there will be further price hikes across all categories," it said, adding to counter this, Auto OEMs should announce special schemes so that retail sales momentum continues. Due to inflation pressure, upcoming change in vehicle norms resulting in price hikes, FADA said it remains cautious during the last quarter of FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/hyderabadi-satya-nadella-insulted-by-his-own-software-as-it-calls-biryani-a-tiffin/articleshow/96756350.cms">Hyderabadi Satya Nadella 'insulted' by his own software as it calls Biryani a tiffin</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/twitterati-misses-ashneer-grover-snapping-in-shark-tank-india-s2/slidelist/96754759.cms">Doglapan, bilkul bakwas: Twitterati misses Ashneer Grover snapping in Shark Tank India S2</a>

Total vehicle retail sales jump 15 pc to 2.11 crore units in 2022: FADA

The <keyword id="20077" type="General" weightage="20" keywordseo="automobile-industry" source="Orion">automobile industry</keyword> is still not out of the woods and the Reserve Bank of India's (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) move to increase the repo-rate by 45 basis points will make vehicle loans expensive, said a top official of the Federation of Automobile Dealers Association (<keyword id="354719" type="General" weightage="80" keywordseo="fada" source="Orion">FADA</keyword>). Comparing the auto sales in April 2022 with that of April 2019 FADA President Vinkesh <keyword id="188080" type="General" weightage="80" keywordseo="gulati" source="Orion">Gulati</keyword> said the sector is still not out of the woods as overall retails were down by minus six per cent. Apart from PV (passenger vehicle) and tractors which grew handsomely by 12 per cent and 30 per cent, two/three wheelers, commercial vehicles are yet to turn green as these categories were down by minus-11 per cent, 13 per cent and 0.5 per cent, respectively, Gulati said. "The month of April (2022) saw similar Auto Retail figures as March'22. While YoY comparison with April'21 shows all categories in green with high growth rate, it is important to note that both April'21 and April'20 were affected by nation-wide lockdown due to phase 1 and 2 of the Covid wave which witnessed no to negligible business. Hence a better comparison will be with Aprila�19 which was a normal pre-covid month," Gulati said. He said the RBI's out of turn announcement of increasing repo-rate by 45 bps has taken everyone off-guard. "The move will curb excess liquidity in the system and will make auto loans expensive," he added. While the passenger vehicle segment may be able to absorb this shock due to long waiting periods, the two wheeler segment is already reeling due to an underperforming rural market, vehicle price hikes and high fuel costs. High interest rates for vehicle loan due to RBI's move will be an additional blow for this segment. Certainly, this move will slow the speed of auto retail and dampen the sentiments further, Gulati said. On the other hand, Private consumption is regaining traction backed by a recuperating contact-intensive services and rising discretionary spending. "With the Russia-Ukraine war continuing and China under lockdown, the global auto industry continues to witness supply crunch as semi-conductor shortage along with high metal prices and container shortage prevails. Customers of the PV segment hence continues to witness long waiting period," Gulati said. Referring to the Skymet's normal monsoon forecast and if the monsoon is evenly distributed there will have a positive rub-off on rural sentiment as farmers will be able to get better crop realisation thus increasing their disposable income. It will thus benefit tractor and two wheeler sales. This along with the marriage season in coming days will also see traction in auto retail. Overall, FADA changes its stance from extremely cautious to cautious in terms of slight recovery in near term. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-and-airtel-introduce-new-plans-with-disney-hotstar-subscriptions/articleshow/91336737.cms">Jio and Airtel introduce new plans with Disney+ Hotstar subscriptions – price, benefits and validity</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/dealshare-is-now-on-a-lookout-to-hire-1500-employees-acquire-10-businesses-this-year/articleshow/91336481.cms">Social commerce unicorn DealShare is now on a lookout to hire 1,500 employees, acquire 10 businesses this year</a>

RBI to increase repo rate by 45 basis points making vehicle loans expensive, says FADA

New Delhi, Jan 21 () Hyundai Motor India on Tuesday launched a new compact sedan Aura, priced between Rs 5.79 lakh and Rs 9.22 lakh (ex-showroom Delhi), as it looks to consolidate its position in the segment which is currently dominated by the likes of Maruti Dzire and Honda Amaze.
 Aura comes with BS VI compliant 1.2 litre diesel, one litre turbo petrol and 1.2 litre petrol powertrains.
 The 1.2 petrol versions of Aura are priced between Rs 5.79 lakh and Rs 8.04 lakh while the 1.2 litre diesel trims are tagged between Rs 7.73 lakh and Rs 9.22 lakh.
 The one litre turbo petrol is priced at Rs 8.54 lakh.
 The petrol AMT trims are priced at Rs 7.05 lakh and Rs 8.04 lakh while the diesel versions with similar technology are tagged at Rs 8.23 lakh and Rs 9.22 lakh.
 The petrol 1.2 litre (CNG) version is priced at Rs 7.28 lakh.
 "The model would help us improve performance in the compact sedan segment which has long been dominated by Dzire and Amaze for a decade now," Hyundai Motor India MD and CEO SS Kim told .
 The company's current product offering in the segment, Xcent hasn't fared that well and the new model would help it do much better, he added.
 Kim said that the company for the time being would also continue to offer Xcent to the fleet segment.
 He added that the model is also being upgraded to conform to BS VI emission norms.
 Aura will compete with brands like Maruti Suzuki Dzire, Honda Amaze and Ford Aspire, which are priced between Rs 5.82-9.79 lakh, in the compact sedan segment.
 The compact sedan segment in the country is around 3.4 lakh units per annum.
 "The model will be game changer product creating a new excitement and establish new benchmarks in the automobile industry," Kim said.
 As per the company, the 1.2 litre petrol variants of Aura come with fuel efficiency of 20.5 and 20.1 kilometer per litre for manual and AMT versions, respectively.
 The 1.2 litre diesel manual trims come with fuel efficiency of 25.35 km per litre while the AMT versions come with 25.4 km/litre efficiency, it added.
 The one litre petrol turbo, which comes with manual transmission only, comes with a fuel efficiency of 20.5 km per litre, HMIL said.
 The vehicle also comes with various features like wireless charger, driver rear view monitor, air curtain among others.
 When asked to comment on the company's overall sales outlook for 2020, Kim said that with new models lined up, the firm would like to do much better than last year when its sales had declined by 7 per cent.
 "We strongly believe that with Aura, new Creta and other models coming in this year, we can do better and continue our momentum this year," he added.
 He said the new models would also help the company to improve its overall market share in the domestic passenger vehicle segment.
 Hyundai ended the last year with 17.3 per cent market share in the PV segment against 16.3 per cent in 2018.
 Kim said the company also remained leader in passenger vehicle (PV) exports last year with dispatches of 1.8 lakh units to global markets.
 He added that HMIL now contributes 10 per cent to parent Hyundai Motor Company's (HMC) global sales.
 "The company is now the third largest contributor in HMC's global sales," he added. MSS ANS
ANS

Hyundai drives in compact sedan Aura with price starting at Rs 5.79 lakh

<ul><li>Shares of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> surged almost 4% on Monday as the automaker has now become the second largest car seller in India.</li><li>Tata Motors has surpassed <keyword id="596" type="General" weightage="20" keywordseo="hyundai" source="Orion">Hyundai</keyword> in terms of sales growth in December.</li><li>It is also the highest ever monthly sales for the Mumbai-based car manufacturer in December 2021.</li></ul>Tata Motors’ shares are on a high on the first day of trading this year, with its share price rising as much as 4% on excitement of the company achieving the tag of the ‘second largest car maker in the country’ beating Hyundai. The Mumbai-based company has surpassed Hyundai, who was the second largest auto seller until now, in terms of car sales in December. With the likes of Nexon, Tiago, Tigor and Harrier and several others, the automaker has recorded the highest ever monthly sales in December. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car manufacturers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic December sales 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-on-Year % change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,53,149 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors (PV) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35,299 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyundai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32,312 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra (CV + PV + 3-wheeler) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">36,140 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Toyota </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,832 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honda </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,973 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,797 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-34% </td></tr></tbody><tbody></tbody></table>Note: CVs are commercial vehicles and PVs are passenger vehicles. However, the South Korean car maker Hyundai is still ahead of Tata Motors if we add the sales of both Hyundai and <keyword id="6372046" type="General" weightage="20" keywordseo="kia" source="Orion">Kia</keyword>, which is also owned by Hyundai. The car maker managed to sell a higher number of cars despite witnessing a shortfall in production due to the ongoing semiconductor crisis. “The ever-increasing demand for Nexon EV and Tigor EV as well as progressive revival of the EV [electric vehicles] fleet segment were instrumental in driving this steep growth,” said Shailesh Chandra, president of passenger vehicles business unit at Tata Motors in an exchange filing. <div type="image" title="tata motor" height="900" width="1200" msid="88660301" hostid="261"></div>Good demand on the newly launched Tata Punch also helped the company boost its overall sales. “The overwhelming market response to Tata Punch launched in October 2021 is further boosting demand for the company’s “New Forever” range of cars and SUVs [sports utility vehicles],” added Chandra. Not to forget, the company’s booming electric vehicle business, which is adding to the excitement around electric cars. The company recorded a new sales peak of 5,592 units of electric vehicles in the third quarter of FY22, which is a growth of 345% year-on-year. However, the excitement around the rising sales may not remain long as the company admits it is cautious as the semiconductor shortage continues along with rising covid cases. “Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, instances of COVID begin to rise and underlying demand continues to remain under pressure,” said Girish Wagh, executive director at Tata Motors in an exchange filing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mamaearths-revenue-neared-500-crore-by-selling-its-personal-care-products-in-fy2021/articleshow/88658722.cms">Mamaearth says it has turned profitable as revenue neared ₹500 crore last year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-maruti-suzuki-future-retail-and-other-hot-stocks-on-the-first-trading-day-of-2022/slidelist/88657164.cms">Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022</a>

Tata Motors’ stock at nearly two-month high after selling more cars than Hyundai in December

<keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> on Tuesday said its electric vehicle arm has reduced prices of two models -- <keyword id="20563981" type="General" weightage="20" keywordseo="nexon-ev" source="keywords">Nexon.ev</keyword> and Tiago.ev -- by up to Rs 1.2 lakh on account of reduction in battery cost. The auto major has cut the price of Nexon.ev by up to Rs 1.2 lakh and now the model price starts at Rs 14.49 lakh. Similarly, the company has reduced the prices of Tiago.ev by up to Rs 70,000 with the base model now starting at Rs 7.99 lakh, Tata Motors said in a statement. Introductory prices of the recently-launched <keyword id="20078457" type="General" weightage="20" keywordseo="punch-ev" source="keywords">Punch.ev</keyword> remain unchanged as they already factor in reduction in battery cost in the foreseeable future, it added. "Battery costs constitute a substantial part of the overall cost of an EV. "With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers," <keyword id="20078455" type="General" weightage="20" keywordseo="tata-passenger-electric-mobility" source="keywords">Tata Passenger Electric Mobility</keyword> (TPEM) Chief Commercial Officer Vivek Srivatsa said. While EVs have grown rapidly over the last few years, the company's mission is to accelerate the mainstream adoption of EVs by making them more accessible nationwide, he added. EVs have shown a strong growth momentum and are substantially outperforming the overall passenger vehicle industry growth, Tata Motors said. In 2023, the EV segment grew by over 90 per cent against the 8 per cent growth recorded by the PV industry, it said. This growth momentum has continued in 2024 as well with EV sales registering a 100 per cent year-on-year growth in January 2024. TPEM with over 70 per cent market share is the leader in this fast-growing segment, the automaker stated. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/using-ai-to-impress-someone-this-valentines-nearly-50-say-they-will-be-offended/articleshow/107656212.cms">Using AI to impress someone this Valentine’s? Nearly 50% say they will be offended</a><a href="https://www.businessinsider.in/business/webstories/five-out-of-the-top-10-unlisted-companies-in-india-slipped-in-valuation-in-2023/slidelist/107650633.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/five-out-of-the-top-10-unlisted-companies-in-india-slipped-in-valuation-in-2023/slidelist/107650633.cms" target="_blank">Five out of the top-10 unlisted companies in India slipped in valuation in 2023</a><a href="https://www.businessinsider.in/tech/mobile/news/seven-out-of-top-10-smartphones-sold-worldwide-in-2023-were-iphones/articleshow/107617907.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/seven-out-of-top-10-smartphones-sold-worldwide-in-2023-were-iphones/articleshow/107617907.cms" target="_blank">Apple domination: Seven out of top 10 smartphones sold worldwide are iPhones</a>

Tata Motors cuts EV prices by up to ₹1.2 lakh as battery cost dips

New Delhi [India], February 26 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): Passenger vehicle volume is expected to ascend to a new peak for the third straight time next financial year, growing 5-7 per cent on a high base of 6-8 per cent estimated for the current year ending March 2024, according to <keyword id="19955699" type="General" weightage="20" keywordseo="crisil-ratings" source="keywords">Crisil Ratings</keyword>. This ascend is expected as sport utility vehicles (SUVs) race ahead even as demand for cars and exports remain muted. Healthy volume growth of the SUV segment, which enjoys higher margin, will steer an improvement in operating margin to 11.5-12.5 per cent next financial year, the rating agency said on Monday. Better cash generation, along with strong balance sheet and robust liquidity will support funding of sizeable capital expenditure to set up additional capacity, keeping credit profiles of passenger vehicle makers stable, the agency said. A significant change in consumer preference has cranked up demand for SUVs leading to its market share doubling to 60 per cent of total domestic volume this fiscal from 28 per cent before the pandemic in fiscal 2019. This preference is expected to further grow backed by a healthy pipeline of new model launches across price points, including electric variants, and normalised availability of semiconductors after a prolonged period of short supply. "While the overall PV volume is seen rising 5-7 per cent next fiscal, we expect demand for SUVs to accelerate at twice the pace at over 12 per cent driven by array of feature-laden launches at competitive price points, varied technology options including hybrid and electric, and increased access to credit," said <keyword id="19898319" type="General" weightage="20" keywordseo="anuj-sethi" source="keywords">Anuj Sethi</keyword>, Senior Director, CRISIL Ratings. In contrast, demand for cars is seen slowing this fiscal too due to the ongoing weakness in the rural market and lower affordability at the entry level. The cost of vehicles has risen in the past 3-4 years as manufacturers have been passing on higher commodity prices and have had to comply with more stringent regulations on safety and emissions. The situation is similar on the exports front. The share of passenger exports is estimated to have slowed to 14 per cent this fiscal compared with 17 per cent in fiscal 2019, mainly due to inflationary headwinds and limited availability of foreign exchange in key export markets -- <keyword id="19968988" type="General" weightage="20" keywordseo="latin-america" source="keywords">Latin America</keyword>, south-east <keyword id="19915288" type="General" weightage="20" keywordseo="asia" source="keywords">Asia</keyword> and Africa -- in the past two years. "This trend is expected to continue next fiscal," Crisil Ratings said. But increasing share of SUVs with higher realisations, along with stable commodity prices and full benefit of price hikes executed last fiscal have resulted in operating margin expansion of manufacturers by 200 basis points (100 basis points is equal to 1 percentage point) to 11.0 per cent this fiscal. A further improvement in sales mix in favour of SUVs can take that number to 11.5-12.5 next fiscal, it said. (ANI)

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