Maruti bets big on rural demand to drive sales
Posted on 22nd November 2018 |
.jpg) |
| Maruti Suzuki India is hoping that declining trend in fuel prices and robust rural demand will lift passenger vehicle sales in the remaining months of FY19, a senior company executive said on Wednesday. Petrol prices in New Delhi have come down 10% since hitting record Rs 84/litre on October 4. The domestic auto sales were hit during the festival season by Kerala floods, increase in insurance premium and liquidity crunch in the market. Maruti Suzuki India is hoping that declining trend in fuel prices and robust rural demand will lift passenger vehicle sales in the remaining months of FY19, a senior company executive said on Wednesday. Petrol prices in New Delhi have come down 10% since hitting record Rs 84/litre on October 4. The domestic auto sales were hit during the festival season by Kerala floods, increase in insurance premium and liquidity crunch in the market. Kalsi said that sales picked up during the Diwali week as compared to Navratras but was far off from festive-period buoyancy in the market. “Dhanteras and Diwali fared better than Navratras period. But it wasn’t in line with our expectations,” Kalsi added. According to car dealers, Diwali festival sales were down 15-20% y-o-y across manufacturers. MSIL on Wednesday launched an all-new version of its mid-size multi purpose vehicle (MPV) Ertiga with a starting at Rs 7.44 lakh. The petrol variants, including two automatic transmission trims, are powered by an all-new 1.5 litre engine and are priced between Rs 7.44 lakh to Rs 9.95 lakh. The diesel variants have the same 1.3 litre engine as the earlier version and are tagged between Rs 8.84 lakh to Rs 10.9 lakh. MSIL has invested over Rs 900 crore in the development of the new Ertiga. It will take on the likes of Honda BR-V and Mahindra Marazzo in the mass market MPV space, which are available in a price range of Rs 9.45 lakh and Rs 13.9 lakh. |
|
|
|
|
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 Maruti bets big on rural demand to drive sales |
|
|
|
