Connect with us

Business

Expect India to be 3rd-biggest car market by 2020: Suzuki

Published

on

maruti-suzuki

Geneva, Mar 12 : Suzuki Motor Corporation (SMC) expects India to grow into the third-biggest car market in the world by 2020 and is “determined” to play a big part in that growth.

The company, whose arm Maruti Suzuki India commands nearly 50 per cent of the passenger vehicle market in the country, has already started operations at its new plant in Gujarat as part of the plan to raise its total production to 2 million units by 2020.

“India is expected to grow into the third-biggest car market in the world by 2020 and we are determined to play a big part in that growth,” said Kinji Saito, Executive General Manager and Managing Officer (Global Automotive Operations), Suzuki Motor Corporation, at the Geneva Motor Show here.

He said that in India, Suzuki has been the market leader for decades, with nearly 50 per cent share.

The company plans to introduce more new products in India even as it gears up to meet additional demand by increasing its production capacity.

“In fact, we started operations at a new plant last month on the way to increasing our total capacity in India to two million units,” Saito added.

The Gujarat plant is envisaged to have an installed capacity of 7.5 lakh units annually. MSI’s two units at Gurugram, earlier known as Gurgaon, and Manesar have a total production capacity of 1.5 million units annually.

Maruti Suzuki India (MSI) is accelerating product introductions with an eye to strengthen its hold in the Indian market. As part of its 2020 target, the company had earlier said it would bring in 15 models by then.

In the next fiscal, MSI plans to introduce four new products. It has has been bringing about two new products each year in the past couple of years.

The company will launch the all-new third generation Swift, which was unveiled here, in India in the spring of 2018. It is also gearing up for the upgraded version of its premium crossover S-Cross later this year.

In April to February this fiscal, MSI has sold around 13 lakh units.

Globally, SMC sold 2.9 million units 2016, Saito said.

Business

Petrol, diesel touch all time highs as oil companies hike rates

Apart from Karnataka politics, crude oil prices which have lately been around the $80 per barrel-mark are expected to impact investor sentiments.

Published

on

Petrol

Mumbai, May 20 : Persistently high global crude oil prices, along with the rupee’s movement against the US dollar and the ongoing quarterly results season are expected to drive the trajectory of the key Indian equity indices in the coming week.

However, analysts predict a negative reaction from investors on the formation of a non-BJP government in Karnataka and any further outflow of foreign funds.

“Markets will closely track the floor test results in Karnataka,” Devendra Nevgi, Founder and Principal Partner, Delta Global Partners, told IANS.

“Globally USD, US interest rates and crude oil prices need to be monitored due to their influence on the local markets.”

Apart from Karnataka politics, crude oil prices which have lately been around the $80 per barrel-mark are expected to impact investor sentiments.

As per the latest estimates of the Finance Ministry, the rise in oil prices may inflate India’s import bill by around $25 billion to $50 billion. The surge has already pushed the cost of petrol in the national capital to Rs 75.32 per litre.

Besides, the rupee’s price movement against the US dollar will also be crucial for the market, especially in the backdrop of a continuous outflow of foreign funds.

“Rupee continues to weaken against the US dollar as outflows continue across the emerging markets. However, high oil prices and political risk premium in a pre-election year is ensuring that the rupee remains as an underperformer in the EM basket,” Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities, told IANS.

“Developments in Karnataka are not going to have any lasting adverse impact on the rupee bit come Monday, but there is a risk of a knee-jerk sell-off in the INR against the USD.”

On a weekly basis, the Indian rupee weakened by 68 paise to close at 68.01 against the US dollar from its previous close of 67.33 per greenback.

In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors sold scrips worth Rs 1,496.79 crore during the trade week ended May 18.

According to the National Securities Depository (NSDl), foreign portfolio investors (FPIs) divested equities worth Rs 799.88 crore, or $117.63 million.

In addition to the rupee’s movement, companies like Bata India, Bharat Forge, Bosch, Cipla, Dr Reddys lab, Future Consumer, IndianOil, State Bank of India, Jet Airways and Tata Motors are expected to announce their fourth quarter (Q4) earning results in the coming week.

“We are also expecting to see a mixed bag of result for Q4 going forward. With Q4 results below estimates, there are concerns of downgrade in FY19 estimates,” said Vinod Nair, Head of Research at Geojit Financial Services.

Technical charts showed the National Stock Exchange’s (NSE) Nifty50 in a downtrend.

“Technically, with the Nifty ending lower for the fourth consecutive session and closing below the short term trend reversal levels of 10,630 points, the underlying uptrend has reversed,” said Deepak Jasani, Head of Retail Research for HDFC Securities.

“The coming week could see further downsides towards 10,514 points and lower. On the upside bounces, 10,692 points-level can offer resistance.”

The political stand-off in Karnataka, consistent rise in global crude oil prices and outflow of foreign funds, pulled the key Indian equity indices deep into the red in the week just-ended.

Consequently, the barometer 30-scrip Sensitive Index (Sensex) of the BSE declined by 687.49 points or 1.93 per cent to 34,848.30 points.

Similarly, the wider NSE Nifty50 edged-lower. It ended at 10,596.40 points — down 210.1 points or 1.94 per cent — from its previous close.

Continue Reading

Business

Vodafone brings exciting offers for IPL fan

All it takes is – to download the MyVodafoneApp and participate in the Vodafone Unofficial Sponsor of Fans contest by answering a few simple questions,

Published

on

vodafone

New Delhi, May 19 : Telecom major Vodafone has come up with bagful of offers for the Vodafone customers in Delhi and NCR this IPL season.

With the playoff matches around the corner, the company has floated Unofficial Sponsor of Fans contest for Vodafone pre-paid and post paid customers.

All it takes is – to download the MyVodafoneApp and participate in the Vodafone Unofficial Sponsor of Fans contest by answering a few simple questions, a Vodafone release said.

There are 80 match tickets which can be won by Delhi & NCR Vodafone customers.

Continue Reading

Business

Karnataka’s political crisis, oil prices plunge equities

Published

on

SENSEX-

Mumbai, May 18: The uncertain political environment in Karnataka along with high global crude oil prices pulled the key Indian equity indices deep in the red on Friday.

According to market observers, heavy selling pressure was witnessed in capital goods, auto and metal counters.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,596.40 points, down 86.30 points or 0.81 per cent from the previous close of 10,682.70 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE ended in the red. It had opened at 35,143.59 points, closed at 34,848.30 points (3.30 p.m.) — down 300.82 points or 0.86 per cent — from its previous session’s close of 35,149.12 points.

In the intra-day trade, barometer S&P BSE Sensex touched a high of 35,163.11 and a low of 34,821.62 points. The BSE market breadth was bearish with 1,856 declines against 765 advances.

The major gainers on the BSE were Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank, ITC and Yes Bank, while Sun Pharma, Wipro, Tata Steel, Larsen and Toubro, Tata Motors and ICICI Bank were the major losers.

On the NSE, the top gainers were Bajaj Finance, Tech Mahindra and Bajaj Finserv. The major losers were Cipla, Wipro and Indiabulls Housing Finance.

IANS

Continue Reading
Advertisement

Most Popular