Volvo-Eicher JV to set up Rs 4-bn truck manufacturing plant in Bhopal
Posted on 8th October 2018 |
.jpg) |
| Eicher Motors, which has a 50:50 joint venture with Volvo for trucks and buses (VECV), Monday announced that the JV plans to set up a new greenfield truck manufacturing plant at an investment of Rs 4 billion in Bhopal. "The Madhya Pradesh government has allotted land for the new plant and work to set up this plant is expected to start soon," Eicher Motors said in a BSE filing. "The target is to go on stream with this plant in the next 18 months at an investment of around Rs 4 billion and an initial capacity of 40,000 trucks, in addition to the capacity of 90,000 trucks at Pithampur, near Indore," it added. Volvo Group and Eicher Motors are commemorating completion of 10 years of partnership. Hkan Karlsson, President Volvo Group Trucks Asia and JVs and Chairman, VECV said, "With the announcement of setting up of a new plant at an investment of Rs 4 billion, we have full confidence in the growth potential in the Indian market and with technologically superior products, VECV is in an advantageous position to fully leverage the opportunities in the market". |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for Volvo-Eicher JV to set up Rs 4-bn truck manufacturing plant in Bhopal |
|
|
|
