Latest news with #ShineJacob
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Business Standard
a day ago
- Automotive
- Business Standard
Maruti Suzuki seeks govt help to revive small car demand in India
The company also said that it was not seeing an immediate impact from China's restrictions on rare earth magnets exports Shine Jacob Chennai Listen to This Article Maruti Suzuki has sought government's intervention to revive small car demand in India. The company said on Monday that the demand is not improving because of affordability issues and financing bottlenecks, which is stopping people from upgrading to four-wheelers from two-wheelers. The company also said that there will be no immediate production impact from China's export curbs on rare earth magnets -- which are used in electric motors and other automotive parts In May, the company's mini segment (Alto, S-Presso) saw a significant year-on-year drop of 31.5 per cent, selling 6,776 units compared to 9,902 units last year. 'Government should
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Business Standard
4 days ago
- Business
- Business Standard
No indications of US market slowing down due to tariff: TVS SCS MD
The tally of our Fortune 500 customers increased from 78 to 91 in the last one year, Ravi Viswanathan said Shine Jacob Chennai Listen to This Article TVS Supply Chain Solutions (TVS SCS), one of the largest integrated supply chain solution providers in India, is on a wait-and-watch mode after the US tariff announcement, as the North American market contributes a considerable share of its revenue. Managing Director Ravi Viswanathan speaks to Shine Jacob about the geopolitical crisis in West Asia, the company's US market strategy, and on alternative supply chains, in a virtual interaction with Shine Jacob. Your revenue is almost touching ₹10,000 crore. What's your outlook regarding revenue growth? What is most exciting is the quality of customers we are adding. The tally of our
Business Standard
4 days ago
- Business
- Business Standard
Sensex zooms 1,750 pts, Nifty tops 23,350; why stock markets rallied today?
Why are markets rising today: Tata Motors, L&T, IndusInd Bank, M&M, Adani Ports, HDFC Bank, Axis Bank, ICICI Bank, Bharti Airtel, Bajaj Finance, Reliance Industries, and SBI were top gainers today Shine Jacob Abhineet Kumar Why is stock market rising today, Stock Market Today:The Indian stock markets rose on Tuesday, April 15, 2025, climbing for a second straight day, as tariff reprieve by US President Donald Trump lifted stock market sentiment. The BSE Sensex index zoomed 1,750.34 points intraday to hit a high of 76,907 level, while the Nifty50 index surged 540 points to a high of 23,368. At 3:30 PM, Sensex closed 2.1 per cent higher at 76,734, while the Nifty50 ended 2.19 per cent up at 23,328. In the broader market, the Nifty MidCap, and the Nifty SmallCap indices advanced over 2 per cent each. Of the 2,574 stocks traded on the NSE today, 2,316 stocks gained today and 196 fell. Sixty two stocks were unchanged at the time of writing this report. US' key index, the S&P 500, is up 9 per cent, from April lows, on tariff pause. The Nifty, however, is up only 3 per cent from April lows; hence, we have some catching up to do. This, and some short-covering, will keep the markets strong for the day,' said VK Vijayakumar, chief investment strategist at Geojit Investments Limited. Among individual stocks, Tata Motors, L&T, IndusInd Bank, M&M, Adani Ports, HDFC Bank, Axis Bank, ICICI Bank, Bharti Airtel, Bajaj Finance, Reliance Industries, State Bank of India, and Eternal (Zomato) were the top gainers on the Sensex today, moving higher in the range of 2 per cent to 5 per cent.'
Business Standard
4 days ago
- Business
- Business Standard
Odisha extends UG admission deadline to June 1 as Class 12 results delayed
The government has also asked students belonging to Socially and Economically Backward Class (SEBC), who can now avail 11.25% reservation in state-run colleges, to keep valid caste certificates ready Shine Jacob Abhineet Kumar In a relief for students in Odisha, the state government on Tuesday extended the deadline for undergraduate admissions in state-run colleges till June 1 following a delay in declaring results for the state board's Class 12 final examinations. The earlier deadline for admissions was May 20. "The timeline for e-Admission into all (+3) Degree Higher Education Institutions (HEIs), including Self-Financing Colleges and Sanskrit Colleges of the State under SAMS, has been extended to 1 June 2025," the Higher Education Department posted on X. Students wishing to apply for admission to such institutions can get details from the official website at
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Business Standard
25-05-2025
- Automotive
- Business Standard
We are well positioned as long as Indian market grows: Dheeraj Hinduja
Ashok Leyland, which was sitting on a net cash surplus of ₹4,242 crore in FY25, may be looking at possible acquisitions and entry into new markets. Dheeraj Hinduja, executive chairman, talks about the commercial vehicle (CV) maker's export plans, electric vehicle (EV) business, along with the geopolitical scenario in a video interaction with Shine Jacob. Edited excerpts: Your EV arm Switch Mobility plans to shut down the UK facility at Sherburn. What's your roadmap? Looking at the way the European and UK markets are evolving, it was the right decision by the company to put extra focus on the Indian market. That does not mean we are exiting those markets. We will continue to service those markets. We will look at maintaining our sales in due course of time. The domestic market is growing well for buses. Switch is winning many tenders and has been through new product introductions as well. It will be doing it this year as well. In that respect, I believe the Indian government is giving a very good push to electric buses. It is providing support through incentives as well. We are quite comfortable and will look at this opportunity to explore new markets through new products. You had set a target of 15,000 units for exports in FY25 from around 11,853 units in FY24 and comfortably crossed that. When do you expect to touch your long-term goal of 50,000 units? Rather than focusing on the 50,000 units, which may be the end goal, what is important on an annual basis is to continue this growth. Last year, we managed to deliver what we had estimated (15,255 units). This year also, we are confident that we will be able to increase this quite well. It is not purely dependent on the markets but also on our extended product range within some of the existing markets. At the same time, we continue to explore new terrains. Every time we go into a new market, it takes two-three years to establish an ecosystem, which includes dealerships, products, and after-sales support. All the initiatives that we have taken in the last few years in growing in the African market are suddenly coming through very well. In the Gulf Cooperation Council (GCC) region also, we are well placed, and having our facility in Ras Al Khaimah ensures that our buses are actually seen as an Emirates product. People are seeing us as a local player. In many new markets that we are opening, people should feel comfortable that we are there as a local player and will continue being there to support them through our services. In my view, this is a long-term journey for Indian original equipment manufacturers (OEMs) as they continue to expand their international operations. The acceptability of Ashok Leyland and other Indian products is now improving because of the policies we are offering today. This year, we would see much better numbers in our international operations. Can we say, by 2027 you will be crossing the 25,000-mark? I always hesitate to give numbers, especially because there are so many geopolitical and international issues that are going on. If something happens in any of our key geographies, it can affect our numbers drastically. However, it is a long-term goal to continue growing our international operations. The expansion is happening much better today purely because of the products that we have. How do you see the current tariff scenario and geopolitical crisis globally impacting your raw material prices, especially steel? We are seeing certain protections being given to the steel manufacturers in the country. To the extent possible, it is an ongoing cost-reduction initiative that we are undertaking. While steel may go up, we need to see how we can balance it out in other areas. Luckily, India, being a large market, has good demand internally as well. It still contributes more than 90 per cent of our market. As long as the Indian market continues to grow, our company is well positioned. You are aggressive on liquefied natural gas (LNG) and hydrogen as well. What's your strategy with regard to this? On all alternative fuels, including hydrogen and LNG, we are moving forward with our development plan. For the customer segment and also for the government, we will make sure that as a supplier of buses and trucks, we will make all fuel types available depending on the customer's wish.
