Latest news with #eVITARA
Time of India
3 days ago
- Business
- Time of India
India closely watches US-China trade talks amid rare earth tensions
As trade negotiations between the United States (US) and China near a 90-day deadline, global concerns over rare earth supply chains are intensifying. The US has indicated a possible easing of technology export restrictions in exchange for improved access to rare earth shipments from China, but observers remain cautious about the likelihood of immediate progress. The rare earth dispute has prompted countries to reassess their reliance on Chinese supplies. The US has announced a $39 million investment to develop a domestic rare earth supply chain . India, while not directly involved in the negotiations, is exploring options to reduce its dependence on China, though progress remains limited. Industry impact and government response The Indian automobile and electronics sectors have started to feel the effects of supply constraints. Auto and smartphone manufacturers are reporting falling inventories of rare earth materials and magnets, with potential production cuts expected as early as June. A recent report by Crisil Ratings highlighted the risk to India's electric vehicle (EV) rollout, noting that several new EV models rely on permanent magnet synchronous motor (PMSM) platforms. While most automakers currently maintain four to six weeks of inventory, a continued shortage could impact production schedules from July. Maruti Suzuki is reported to be adjusting its production plans for its upcoming e VITARA model, reducing output targets for the July–September period due to shortages of rare earth magnets. Diversification efforts underway India has responded by stepping up support for Indian Rare Earths Limited and seeking international partnerships. At the India-Central Asia Dialogue held in New Delhi, India and five Central Asian countries expressed interest in collaborating on critical mineral exploration. They also proposed convening the India-Central Asia Rare Earth Forum to advance these discussions. While India is not a direct participant in the ongoing US-China talks, it is assessing the developments and evaluating potential strategies to secure its own rare earth supplies.
Economic Times
3 days ago
- Business
- Economic Times
Stocks in news: Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro
CreditAccess Grameen received $100 million multi-currency syndicated social loan facility, qualifies as an ECB under the automatic route of the Reserve Bank of India (RBI). Synopsis Oriental Carbon saw Bank of America buying shares. Maruti Suzuki is adjusting its e VITARA production. IndiGo is launching flights to Almaty, Tashkent, and Tbilisi. IIFL Finance plans to raise funds through debentures. Texmaco Rail secured an order from Mumbai Railway Vikas Corporation. Wipro extended its partnership with Metro AG. Kaynes Technology's subsidiary made an asset purchase agreement. Markets traded in a lackluster manner and ended almost unchanged on Tuesday, taking a breather after the recent surge. In today's trade, shares of Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro among others will be in focus due to various news developments. ADVERTISEMENT Oriental Carbon Bank of America (BofA) bought 53,428 shares in microcap counter Oriental Carbon & Chemicals on Monday via block deal. Maruti Suzuki The country's largest carmaker Maruti Suzuki India is recalibrating production of its upcoming model e VITARA due to the shortage of rare earth magnets. IndiGo Domestic carrier IndiGo said it is set to enhance its international capacity to Central Asia with the launch of direct flights to three key destinations -- Almaty (Kazakhstan), Tashkent (Uzbekistan), and Tbilisi (Georgia). IIFL Finance IIFL Finance is set to raise up to Rs 600 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. ADVERTISEMENT Texmaco Rail Engineering major Texmaco Rail and Engineering said it has received an order worth Rs 44.04 crore from Mumbai Railway Vikas IT services company Wipro announced the extension of its partnership with Metro AG (Metro), an international food wholesaler, for an additional two years. ADVERTISEMENT Kaynes Technology Semiconductor manufacturing company Kaynes Technology said its wholly-owned subsidiary, Kaynes Semicon, has entered into an asset purchase agreement with Fujitsu General Electronics Limited, Japan. Max Financial Max Financial appointed Sumit Madan as MD and CEO of Axis Max Life for a term of 5 years effective from October 1. ADVERTISEMENT CreditAccess Grameen CreditAccess Grameen received $100 million multi-currency syndicated social loan facility, qualifies as an ECB under the automatic route of the Reserve Bank of India (RBI). (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
3 days ago
- Business
- Time of India
Stocks in news: Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro
Markets traded in a lackluster manner and ended almost unchanged on Tuesday, taking a breather after the recent surge. In today's trade, shares of Oriental Carbon , Maruti Suzuki , IndiGo , Texmaco Rail , Wipro among others will be in focus due to various news developments. Oriental Carbon Bank of America (BofA) bought 53,428 shares in microcap counter Oriental Carbon & Chemicals on Monday via block deal. Maruti Suzuki The country's largest carmaker Maruti Suzuki India is recalibrating production of its upcoming model e VITARA due to the shortage of rare earth magnets. IndiGo Domestic carrier IndiGo said it is set to enhance its international capacity to Central Asia with the launch of direct flights to three key destinations -- Almaty (Kazakhstan), Tashkent (Uzbekistan), and Tbilisi (Georgia). IIFL Finance IIFL Finance is set to raise up to Rs 600 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. Texmaco Rail Engineering major Texmaco Rail and Engineering said it has received an order worth Rs 44.04 crore from Mumbai Railway Vikas Corporation. Wipro IT services company Wipro announced the extension of its partnership with Metro AG (Metro), an international food wholesaler, for an additional two years. Kaynes Technology Semiconductor manufacturing company Kaynes Technology said its wholly-owned subsidiary, Kaynes Semicon, has entered into an asset purchase agreement with Fujitsu General Electronics Limited, Japan. Max Financial Max Financial appointed Sumit Madan as MD and CEO of Axis Max Life for a term of 5 years effective from October 1. CreditAccess Grameen CreditAccess Grameen received $100 million multi-currency syndicated social loan facility, qualifies as an ECB under the automatic route of the Reserve Bank of India (RBI).
Time of India
4 days ago
- Automotive
- Time of India
Maruti Suzuki recalibrates e VITARA production amid rare earth magnet shortage
Maruti Suzuki India is adjusting its e VITARA production plans due to a shortage of rare earth magnets, aiming for 8,000 units by September instead of the initially planned 26,000. The company intends to compensate for this dip in subsequent months, targeting 67,000 units this fiscal year. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The country's largest carmaker Maruti Suzuki India is recalibrating production of its upcoming model e VITARA due to the shortage of rare earth magnets , industry sources auto major is looking to produce around 8,000 units of the model by September as against the earlier stated plan of rolling out over 26,000 units during the company however plans to make up for the production dip in the subsequent months with stated target to produce around 67,000 units of the model this fiscal, sources said. Maruti Suzuki India declined to comment on the this week, Maruti Suzuki India Chairman R C Bhargava said there is no impact on the company's production due to the shortage of rare earth magnets as of carmakers are forced to take steps as the Chinese government has put restrictions since April 4 on the export of rare earth elements and related has mandated special export licences for seven rare earth elements and related controls over 90 per cent of global processing capacity for the magnets, used across sectors including automobiles, home appliances and clean domestic automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger per the industry sources, various domestic suppliers have already sought approval from the Chinese government through their local vendors in no approvals have been granted so critical materials include samarium, gadolinium, terbium, dysprosium and lutetium, which are essential in electric motors, braking systems, smartphones and missile earth magnets are integral to permanent magnet synchronous motors (PMSMs) used in EVs for their high torque, energy efficiency and compact also depend on them for efficient propulsion. In internal combustion engine (ICE) vehicles, the use of rare earth magnets is largely limited to electric power steering and other motorised systems.
Japan Times
25-04-2025
- Automotive
- Japan Times
Maruti Suzuki profit misses estimate on higher input costs
Maruti Suzuki India, India's largest carmaker, reported a smaller-than-expected quarterly profit as higher input costs and marketing spends outweighed a modest rise in sales. Net income fell 4.4% to 37.11 billion rupees ($434 million) for the quarter ended March 31, the firm said in a filing Friday. That fell short of the average profit of 38.57 billion rupees estimated by a survey of analysts. Revenue rose 6.4% to 406.7 billion rupees compared with the same period last year, missing estimates. Total costs advanced 8.6% to 373.3 billion rupees, with raw material costs surging almost 20%, the filing said. The disappointing earnings for the sector leader — it had a 41.5% local market share as of the end of March — come amid a broader consumption slack in the world's most populous country which has clipped sales across the board from kitchen staples to SUVs. After clocking an average of 8% for three years, India's growth slowed to 6.5% in the year ended March 31. The International Monetary Fund forecasts this will slip to 6.2% in the current fiscal year. "This year, the domestic market growth was quite muted,' the company said in the earnings statement. The Indian unit of Suzuki Motor Corp. said earlier this month that domestic passenger vehicle demand growth is likely to be at just 1% to 2% for year through March 2026. Raising prices Maruti posted a 3.5% increase in sales to 604,635 units, buoyed by a 8.1% surge in exports to 85,089 units in the quarter while domestic sales rose by just 2.8%. The company has been raising car prices too this year — from Feb. 1 and then April 8 — to pass on some of the pain from rising input costs and operational expenses. Operating Ebitda margin was 8.7%, missing the analyst estimate of 9.87%. Margins were hurt by expenses at the new Kharkhoda plant, marketing costs and manufacturing overheads, Maruti said in an post-earnings presentation. Shares of the company fell as much as 2.31% after the earnings were reported. The firm also announced a dividend of 135 rupees per share. The carmaker that sparked the affordable small-car revolution in India in the 1980s has been looking to make up for lost ground in the electric vehicle segment, where local rival Tata Motors dominates. Maruti's first electric vehicle, e VITARA, which was unveiled at the India auto show in January, will hit the roads later this year. It also plans to roll out five more EVs by 2030. 'Greatest focus' "India is our most important market, and our greatest focus,' Toshihiro Suzuki, chief executive officer of Maruti's Japanese parent told reporters in February, undeterred by the recent tepid growth in the South Asian nation. Maruti also started its Kharkhoda plant in February in the northern Indian state of Haryana — its first new plant in eight years — marking the first phase of what will become one of Asia's largest passenger vehicle manufacturing facilities by 2028. The first model being manufactured at the new production line will be its compact sports utility model Brezza. "Suzuki could retain its lead in India's passenger-car market backed by added capacity and a robust product pipeline for the growing SUV segment,' Bloomberg Intelligence analysts Tatsuo Yoshida and Marie-Christine Yoko Huss wrote in a note on Wednesday. The company is targeting "sales of 2.54 million units by fiscal 2031 and a 50% market share, but rival product offensives remain a challenge,' they wrote.
