Mercedes-Benz to roll out new technologies to boost sales in India
Posted on 22nd March 2019 |
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| German luxury car maker Mercedes Benz is planning to bring in a range of new technologies in order to increase their foot print in India. Starting from upgraded internal combustion engines to battery-powered electric vehicles and plug-in hybrids, the company is looking out for all the viable options that make sense for the Indian luxury-car market Mercedes-Benz is working on bringing upto 10 electric vehicles on road by 2022. However, the company is following an all-inclusive strategy in India as it expects an increase in demand for all types of engines in the subcontinent, including the classic combustion powertrains. Mercedes expects that the demand will increase once the elections are over. Inspite of the high tax structure on luxury vehicles, Mercedes-Benz sold 15,538 vehicles in India last year and the company is looking out for possibilities to locally assemble the cars in order to reap the advantages of importing CKD (completely knocked-down) units. Schwenk also added that the recent move by the government to allow luxury car companies to import 2,500 vehicles annually without homologation was helpful and the company might use the route to launch electric vehicles here. |
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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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