Volvo to have India-assembled hybrid SUV by 2019-end
Posted on 14th February 2019 |
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| Swedish luxury car maker Volvo Cars India will roll out its first locally-assembled plug-in hybrid XC90 by the end of 2019. This will be an SUV (sports utility vehicle) and will compete with the BMW X6 35i M Sport and the Mercedes-AMG GLE 43 4Matic. Charles Frump, managing director, Volvo Car India, said on Wednesday the plug-in hybrid car will cost around 8% more than the diesel inscription car. “If our diesel car is priced at Rs 89 lakh (ex-showroom), the plug-in hybrid will cost Rs 96 lakh,” Frump said. The hybrid car will be locally assembled and the company will provide charging stations at no additional cost. “We will be providing charging stations at the customer’s house and workplace which will be included in the cost of the car. That will make it convenient for the customer,” the MD said. Frump said that FY18 had been a tough year for the luxury automotive market. “But we launched new cars XC60, XC40, and it’s important to launch products and have effective dealerships,” he said. The company opened a second showroom in Mumbai on Wednesday under the ownership of KIFS motors. In all, Volvo cars has 25 showrooms across India including those in Ahmedabad, Bengaluru, Coimbatore, Delhi and Lucknow.
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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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. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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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. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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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). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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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. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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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. |
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