Some are transforming better than others to stay relevant in the EV space: 6 auto ancillary stocks with up
There has been a transformation going in the automobile sector and its supply chain, the auto ancillary industry. Now a number of the large auto companies have been re-rated in the last one year. But the re-rating of the auto ancillary unit has been slower, for a valid reason. These auto ancillary units are dependent on their main buyers. So, for an auto ancillary company which has been supplying to TVS, Tata motors the process of transformation started a long time back but for some other where the major buyer has not even launched a single EV model, transition has been slower. But the biggest factor which distinguishes a winner and laggard in the auto ancillary industry is how proactive the management has been. We take a look at 6 stocks from auto ancillary space. Where either they are a literal monopoly in their segment or they have been focussing on EV much earlier or have been sharp to react to changing market conditions. Key Points
Economic TimesKerala auto driver helps UK man locate ATM, his gesture leaves vlogger impressed
The video that captures the auto driver helping the UK vlogger locate an ATM was shared on Instagram. It has since gone viral and won hearts online. | Trending Key Points
Hindustan TimesA play on economic growth and transformation: 7 auto stocks from different segments with upside potential
Unlike the US and some other western countries, where a separate transportation index is watched very closely, in India we don't have a very popular transportation index. The reason why transportation index numbers are extremely important is because there is enough historical evidence to show that auto industry numbers lead indicators of what is happening in the economy. If one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. The reason, sales of LCV and certain other auto segments is an indication of the economic situation on the ground. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. Key Points
Economic TimesEV ecosystem is equally important if not more: 4 auto ancillary stocks with upside potential of up to 32%
It might surprise some, but years before a new car or motorcycle is launched, automakers go in huddle with their backend supplier to finalize the supply chain management of components which will go in that new car or the bike. Until the component supply chain is not planned and perfected, things are not taken forward. Such is the importance of the backend component supplier which are more commonly known as auto ancillary units. Now there is a major transition taking place in the Automobile sector with EV coming close to that inflection point. So a transition is bound to take place in the auto ancillary sector. Key Points
Economic TimesIndia’s auto parts makers’ H1FY24 sales up at ₹2.98 tn
Data released by Automotive Component Manufacturers Association of India (ACMA) showed exports of auto components grew marginally by 2.7% to $10.4 billion ( ₹85,870 crore), while imports rose 3.6% to $10.6 billion ( ₹87,420 crore). Key Points
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Climate Activists Tell the EV Industry to Fix Its Filthy Supply Chain
EV production often relies on coal power and harmful labor practices. Climate activists in 'Squid Games' costumes disrupted the LA auto Show this weekend to demand urgent change. Key Points
WIREDNifty auto index stocks: New EV policy will change the landscape even for ICE players
It is very likely that a new EV policy is on its way. Will it have financial incentives for existing players or will it focus on building an ecosystem, where EV are made in India not only for the Indian market, but over a period of time they are exported from India needs to be watched. The reason, if it is about building an ecosystem, it would have a long term positive impact on the auto ancillary industry. It is very likely that over the next couple of quarters there would be some re-rating of select auto stocks. Key Points
Economic TimesIn the new world of EV: 5 auto ancillary stocks with upside potential of up to 37%
In the last five years, many auto ancillary companies have been trying to stay relevant to the EV space. Some got into EV space through organic routes as their existing product lines were still relevant to an electric vehicle, a few went through an inorganic route. Over the next one to two years, there would be shakeout in the auto ancillary space. The ones which are relevant to EV space are likely to get premium; others will probably just survive. So, while looking at an auto ancillary unit it would be worthwhile to figure out abouts its probability of staying relevant in EV space rather than what is happening to its margins and other financial factors in the short term. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list Key Points
Economic TimesNifty auto index stocks: Festive season is a test for EV inflection point
In some segments like cars and two wheelers do have witnessing rising sales in festive season. But this time in case of even in these two segments, what would be more interesting to watch would be the fact how much sales the EV segment is able to get. If there is a sharp jump in EV numbers then it would mean that the final inflection point as far as the price is concerned will be higher than what has been estimated earlier. Which means early adoption. So when companies announce their sales numbers for the following months, October, November and December, it would throw a light on possible winners for next year. Key Points
Economic TimesChanging for the new order of EV? 5 auto ancillary stocks with upside potential of up to 32%
While the whole focus of transition to EV space has been on auto companies. The fact is that any auto company cannot make transition till the time its own supply chain, which essentially are auto ancillary companies make that transition. While there are some auto ancillary that cannot make that change because their products are not required in an EV, there are others who had to make the modification to adjust it to what is likely to be the future. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic Times
Bajaj auto Q2 Results Live Updates: Net profit likely to rise 13% YoY; lower volumes to dent revenue growth
Bajaj auto Q2 Results Live Updates: Bajaj auto is expected to see a growth of 13.6% in Q2FY24 net profit, while lower sales volumes is likely to weigh on revenue growth, as per average estimates of analysts. Key Points
mintLove advice written on Bengaluru auto sparks laughter
“Indeed. Bangalore auto drivers and their philosophies,” wrote an X user while sharing a picture of an auto with a love advice written on it. | Trending Key Points
Hindustan TimesUjjain rape horror: Blood stains found on auto, driver arrested, 3 detained
The police have arrested an auto driver in connection with the rape case of a minor in Madhya Pradesh's Ujjain. Three others have also been detained. Police said there were blood stains on the auto. Key Points
India TodayThe auto Strike Threatens a Supply Chain Already Weakened by Covid
A prolonged autoworker strike would be especially painful for smaller players inside the complex auto supply chain. It could also impact thousands more workers and push up car prices. Key Points
WIREDPlay auto via auto finance or even auto ancillaries: Anand Tandon
We have to actually wait for the dust to settle to see who the winners are. If you are really looking to play the auto segment, maybe a better way of doing it would be to play either the auto finance or even the auto ancillaries because there at least the fluctuations are a lot less. Key Points
Economic Times
EV tailwinds? 5 auto ancillary stocks with upside potential of up to 37%
As the whole landscape for the auto sector changes, select auto ancillary stocks are coming back on the attention list. Last week an auto ancillary major announced the opening of two plants for Electric Vehicle space only. Probably this is just the beginning, more auto ancillary units would be announcing it sooner than later. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list Key Points
Economic TimesTailwinds are back! 4 smallcap stocks from auto ancillary space have an upside potential of up to 50%
As the large auto companies make a comeback, even the auto ancillary stocks are coming back on the attention list. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic TimesNifty auto index stocks: Selectively not secularly bullish
As the headwind for the auto sector starts to slow and the nifty auto index continues to outperform some of the other sectoral indices, we take a look at what analysts' views are on segments and sub-segments of the auto industry. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Key Points
Economic TimesIndia's Bajaj auto posts Q1 profit beat on commercial vehicle strength
India's Bajaj auto (BAJA.NS) beat expectations on Tuesday, reporting a nearly 42% increase in first-quarter profit on the back of robust demand for its commercial vehicles. Key Points
ReutersTailwinds are back! 4 smallcap stocks from auto ancillary space have upside potential of up to 52%
As the large auto companies make a comeback, even the auto ancillary stocks are coming back on the attention list. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic Times
auto stocks rise 25% in a year - what is driving the gains and what should investors do?
Auto stocks have seen significant gains in the past year, with the Nifty auto index rising 25 per cent. Factors such as pent-up demand, economic recovery, and the easing of chip shortages have contributed to the rise. Key Points
mintNifty auto index stocks: Transformation is at the doorstep, making analysts selective
As the headwind for the auto sector starts to slow and the nifty auto index continues to outperform some of the other sectoral indices, we take a look at what analysts' views are on segments and sub-segments of the auto industry. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Key Points
Economic TimesGrand Theft auto V returns to Xbox Game Pass with couple of more surprises. See details
Popular game Grand Theft auto V is back on Xbox Game Pass, exciting gamers. Check out other titles joining in July. Key Points
Economic TimesSensex, Nifty close flat as auto, consumer stocks offset slide in financials
India Business News: Indian shares were mostly unchanged on Wednesday due to the rise in auto and consumer stocks offsetting the fall in financials. Nifty index rose 0.05% Key Points
Times Of IndiaNifty auto index: Time to be selective with your pick
As the headwinds for the auto sector start to slow and the nifty auto index continues to outperform some of the other sectoral indices, we take a look at what analysts' views are on segments and sub-segments of the auto industry. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Key Points
Economic Times
Tailwinds are back! 5 smallcap stocks from auto ancillary space have an upside potential of up to 52%
As the large auto companies make a comeback, even the auto ancillary stocks are coming back on the attention list. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic Times15-year-old Bihar girl kidnapped, thrown out of moving auto after being chased by locals
A minor girl was abducted by two miscreants and then thrown out of the moving auto after locals started chasing them. The driver of the auto has been arrested. Key Points
India Todayauto stocks in mild losses, Nifty auto unchanged after RBI MPC keeps repo rate unchanged with eye on inflation
Nifty auto index slips 0.1% as RBI MPC kept the repo rate unchanged at 6.5%. Key Points
FinancialexpressForeigners lap up auto, financial shares in May
Overseas investors bought shares of financial services firms worth ₹17,671 crore in May, their highest monthly purchase in the sector in the last 29 months, according to Primeinfobase.com data. They purchased auto and auto components shares worth ₹8,700 crore, the highest monthly buy in over 10 years. FPIs bought shares worth ₹41,207 crore in May, the data showed. Key Points
Economic Timesauto companies await clarity on PLI subsidy for FY23
Auto industry companies in India are awaiting clarity on whether they will receive incentive funds for the first year of the ₹25,938 crore production-linked incentive scheme, which has been in effect for over a year. The standard operating procedure (SOP) for the scheme, which is required for products to be certified, was released on April 27, 2023, causing a delay. Companies are also concerned that key changes agreed upon by the industry and government have not been incorporated into the final draft of the SOP. Additionally, some manufacturers were wrongfully claiming subsidies in violation of conditions. Key Points
Economic Times
Tailwinds are back? 5 stocks from auto ancillary space with an upside potential up to 26%
While it might surprise many, the fact is that the majority of sales in the auto industry are financed through an auto loan. That is the reason why in the second half of 2018 when the NBFC crisis happened, one of the biggest hits was taken by the auto industry and hence auto ancillary. Now things are coming back to normal as companies have made adjustments for many other headwinds.We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic Timesauto driver hits techie when he opts for rapido and flees the scene in Bengaluru
According to police sources, the incident took place at 3:30 am in the Layout Sector One area. The incident was caught on CCTC camera and it shows the victim speaking to the auto driver for a few minutes before eventually walking away. Later, the auto driver suddenly crashes his vehicle on him. The victim fell on the road and in the meantime the auto driver had fled. Based on the CCTV camera footage, the police have launched a hunt for the auto driver. The identity of the victim is currently unknown. Key Points
Economic TimesDog sits on auto driver's lap, B'luru traffic scene wins hearts
A video of a dog sitting on an auto driver's lap was posted on Instagram. The video will leave you smiling. | Trending Key Points
Hindustan TimesMore tails than heads; 4 stocks from auto ancillary space with an upside potential up to 37%
After facing rising input costs and supply chain disruption, the Macro environment in which auto ancillaries companies operate have turned favourable after a long period of time. Sometimes it is LCV and HCV which drives the demand, at other point time, better four and two wheeler numbers are pushing the demand up for auto ancillary companies, some of which are changing their business model to stay relevant in times of EV. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic TimesIs it time to buy Reliance & M&M? Deepak Shenoy answers
According to Deepak Shenoy Reliance Industries' foray into FMCG places it well in a competitive market. Reliance, with the ability to raise debt, and cash, is positioned to excel. Though the past three years saw little revenue from the company, the next three years have great potential. Mahindra & Mahindra, despite the auto industry's underperformance, has a diverse profile. The improving infrastructure in both road and rail, and lowering interest rates, are expected to boost the automotive sector in 5 years. Key Points
Economic Times
Vijay Kedia raises stake in this smallcap auto stock
Shares of Atul auto closed 0.34 per cent lower at ₹321.95 apiece on the NSE on Friday Key Points
mintVijay Kedia picks another 7% stake in smallcap auto stock
According to disclosures made to stock exchanges, Kedia acquired 16,83,502 shares of the company on March 15. Before the acquisition, he held a 1.5% stake and his total shareholding in the auto company has gone up to 8.43%. Key Points
Economic Timesauto driver who is also financial advisor impresses people
Janardhan, an auto driver is also a financial advisor who talks about various things on his YouTube channel. Recently, the man went viral after a passenger shared about him. | Trending Key Points
Hindustan TimesIn H2, Bajaj auto domestic biz showing signs of incremental growth; big opportunity seen in ASEAN: Rakesh
“Rather than V-shaped recovery, it is better for everyone, for the entire ecosystem, for the dealers, for the vendors, for the company, to see a robust if flatter recovery. We are seeing that happen. A 3-5% single digit positive is a nice recovery to see. The top half of the segment is growing in the higher single digits – 8-9%.” Key Points
Economic TimesEV sales in local market will continue to increase, with or without subsidies: ACMA
ACMA President Sunjay Kapur informed with deeper focus on localisation of advanced technologies, vehicle electrification will continue to rise in the local market driven by cost economics. These investments in developmental capabilities will also help the industry neutralize threats if at all Teslas Chinese suppliers were to set up base in the country. Key Points
Economic Times
Stick to auto, stay away from ancillaries now: Anand Tandon
Indian independent analyst Anand Tandon believes it is difficult for large IT companies to create a significant niche that will move the needle overall. While smaller niches, such as travel, may continue to report positive numbers, Tandon argues it is unlikely such niche firms can outlast an overall downswing in terms of valuations of the sector. Meanwhile, he sees a similarly challenging scenario for the auto ancillary space, with the world market not exciting and weak US order books causing Bharat Forge to suffer. Explaining he prefers to look at OEMs directly, Tandon recommends buying front-end auto companies. Key Points
Economic TimesWith Musk set to visit India, here’s a look at which Indian states are favourites for auto FDI & why
Government data shows MNCs have favourite states when it comes to where to invest. auto companies especially look for specific advantages that some states have & concentrate on those. Key Points
ThePrintDespite export headwinds Indian auto component makers to post 5-8% growth in FY2024 says ICRA
The rating agency expects a YoY improvement of 100-150 bps in operating margins in FY2024 with the same returning to pre-Covid levels of 11-11.5 percent. Key Points
FinancialexpressBajaj auto board approves Rs 4000-crore share buyback at Rs 10,000 each
The two-wheeler major will repurchase up to 40,00,000 shares for a price not exceeding Rs 10,000 a share, the company said in an exchange filing. Dalal Street is set to rejoice this news, as the buyback price is at a whopping 43% premium to the current market price. Key Points
Economic TimesBajaj, TVS vroom to record profits in Q3
Bajaj Auto's revenue from operations grows 30% YoY to ₹12,114 crore in Q3FY24, with profits up 37% YoY to ₹2,042 crore and Ebitda margins at 20.1%. TVS Motor's revenue rises 26% YoY to ₹8,245 crore, with net profit up 68% to ₹593.35 crore. Key Points
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Q3 Results Today: Bajaj Auto, Tata Steel, Tech Mahindra, DLF among 78 companies to announce earnings
The BSE will see seventy eight companies announcing their December quarter earnings, including Bajaj Auto, Tata Steel, and Tech Mahindra. Axis Bank reported a 4% YoY increase in net profit for the October-December quarter. Bajaj auto is expected to have a 33.3% YoY rise in net profit, while Tech Mahindra may see a decline in revenue but a rise in net profit. Other companies announcing their Q3 results include Ujjivan Small Finance Bank, UCO Bank, TVS Motor Company, Railtel, and PNB Housing. Key Points
Economic TimesIndia's Bajaj auto shares hit record high as three-wheelers drive Q2 profit beat
Shares of Bajaj auto (BAJA.NS) rose as much as 5.6% to a record high on Thursday after the company reported a better-than-expected quarterly profit as cost cuts and better sales of high margin three-wheelers helped, while analysts signaled a recovery in its exports business. Key Points
ReutersAll 15 Nifty auto stocks above 200-DMA. Will Q2 results, festive demand give a fillip?
Auto sector has witnessed a healthy retail uptick during Onam and Ganesh Chaturthi, it is expected that retail sales during the upcoming festive season (Diwali, Dusherra) will be strong compared to the previous year. With 27% returns in 6 months, the Nifty auto index is among the best sectoral performers and is led by strong upside in Tata Motors, Maruti Suzuki, M&M and Hero MotoCorp. Key Points
Economic TimesBreakout Stocks: How are Tata Motors, BLS International and JBM auto looking on charts for Friday?
The Indian market soared to a new all-time high, with the S&P BSE Sensex surpassing 64,000 and the Nifty50 reaching 19,011. Sectors such as capital goods, power, healthcare, auto, and oil & gas witnessed buying activity. Stocks like Tata Motors, BLS International, and JBM auto gained significantly, hitting fresh 52-week highs. Analysts suggest that while Tata Motors may have experienced a base breakout, better opportunities may be found elsewhere due to the absence of significant earnings growth triggers. Key Points
Economic TimesBajaj auto shares fall over 5% after demonetisation in Nigeria. Here’s why
Bajaj auto shares fell sharply on Monday after a note ban came into effect in Africa's most populous country, Nigeria. Here is all you need to know. Key Points
India Today
Bajaj Auto's Rs 4,000 crore share buyback: Dates, retail acceptance ratio, other details
Bajaj Auto's Rs 4,000 crore share buyback scheme opens tomorrow, with the company planning to buy back 40 lakh shares at a price of Rs 10,000 per share. The acceptance rate is expected to be around 26-30%, according to Nuvama. Analysts have recommended eligible shareholders of Bajaj auto to tender their shares for the buyback. Key Points
Economic TimesBajaj auto share price tanks 1.4% after Q4 net profit falls 2.5%; Should you buy, sell or hold Bajaj auto stock?
Bajaj auto shares have risen nearly 13% in the past one month and 11% in the last one year. Meanwhile, the company’s board has approved the reappointment of Rakesh Sharma as whole-time director. Key Points
FinancialexpressSensex, Nifty end in red as metal and auto stocks pull markets down
The S&P BSE Sensex was down 152.93 points to close at 81,820.12, while the NSE Nifty50 lost 61.85 points to end at 25,066.15. Key Points
India TodayThese auto sector stocks can deliver more than 15% return in next one year
If one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. The reason, sales of LCV and certain other auto segments is an indication of the economic situation on the ground. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. But as the stocks have done well in the recent past, it is time to be selective at least in the near term. Key Points
Economic Timesauto rickshaw stunt on crowded bridge goes viral, Delhi Police takes action
A man was recorded performing a dangerous stunt while travelling in an auto rickshaw in Delhi. It prompted an action from the police. | Trending Key Points
Hindustan Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/XFXAC5GMLBLG3HB4KZPFRB72DU.jpg)
Take-Two Interactive forecasts third-quarter net bookings below estimates
Take-Two Interactive Software (TTWO.O) on Wednesday forecast third-quarter net bookings below market expectations, hurt by a slowdown in spending on the company's gaming titles such as "Grand Theft Auto" and "Red Dead Redemption". Key Points
ReutersEV adaptability to decide winner: 5 auto ancillary stocks with upside potential of up to 24%
Few weeks back an auto ancillary major announced the opening of two plants for Electric Vehicle space only. Probably this is just the beginning, more auto ancillary companies, some of which have been readjusting their business model toward EV space, would be announcing it sooner than later. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic TimesNifty auto index stocks: EV transformation to decide the winner
If one has to go by recent indications from management of different auto companies, the mood in the industry is positive about the forthcoming festive season. For the auto industry, headwinds like rising input cost, stagnant demand are becoming things of the past for the majority of them. Now if the festive season goes well, then auto stocks might see another push. Though if the metal prices start to rise some companies might face minor issues with their margins. So while being bullish, being watchful. Key Points
Economic TimesIs Bajaj auto stock a buy after Q4? Brokerages remain divided in their views; here's what they say
Bajaj auto beat Street estimates but most brokerage firms retained their views on the stock after the Q4 numbers. Some of them see the stock buy-worthy at this juncture while some believe the stock has limited upside potential from the current market price. Key Points
mintGeneral Motors, Samsung to build $3 billion EV battery plant in US
The project is GM's fourth joint venture battery cell factory. It has announced three others with South Korea's LG Energy Solution. Key Points
mint
Hema Malini travels by metro and auto, shares video: ‘Dazed security couldn’t believe their eyes’
Actor and Member of Parliament, Hema Malini, recently shared photos and videos from her auto and metro ride. The actor was seen posing for selfies with fans inside the metro. Key Points
The Indian ExpressMore tails than heads; 5 stocks from auto ancillary space with an upside potential up to 39%
Macro environment in which auto ancillaries companies operate have turned favourable after a long period of time. Sometimes it is LCV and HCV which drives the demand, at other point time, better four and two wheeler numbers are pushing the demand up for auto ancillary companies, some of which are changing their business model to stay relevant in times of EV. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic TimesShould you make Reliance a portfolio stock for the next three years? Dipan Mehta explains
Reliance Industries is a large company with a variety of businesses. Dipan Mehta, director of Elixir Equities, believes that Reliance will outperform the stock market benchmarks in the short-term, but his personal preference is for smaller, mid-sized companies. He thinks that debt concerns may be a temporary issue and that Reliance is doing well on all fronts. Mehta is positive on the auto industry and expects good earnings from banks and technology companies. Key Points
Economic Times4 auto picks to make money in near to long term; 4 OMCs to buy on dips: Sanjiv Bhasin
Sanjiv Bhasin recommends Ashok Leyland, Maruti, Bajaj Auto, and Motherson Sumi as good picks for making money. He advises investors to buy IOC, NALCO, ONGC, and HPCL in the market correction. Bhasin believes private banks will lead the market higher and mentions the possibility of retail liquidation. He says, Reliance and HDFC Bank should be the main pillars of the index and the rest of the midcaps can continue to be consolidating for some time. Key Points
Economic TimesEquity prices poised to move higher over July and next several months: Dipan Mehta
“The risk return profile does not favour buying into a stock like IdeaForge. But I am sure it will get heavily oversubscribed and even more certain that it will list at a very good premium. So there is, of course, a trading opportunity over here. You can flip the stock afterwards.” Key Points
Economic Times
Suzuki Motor Company freezes car & bike plants in cash-strapped Pakistan due to import restrictions
The Suzuki Motor Company Ltd has pulled the plug on its car and bike plants in Pakistan. As per media reports, the plants will remain closed from June 22 to July 8 due to import restrictions and their effect on components and accessories. The auto industry is one of the several sectors impacted by the present economic conditions in Pakistan. Key Points
Economic TimesRacing Ahead! Nifty auto hits record high, crosses 14,500 mark for first time
Auto is making new highs as volumes are improving every month, commodity inflation is behind, and production issues are getting resolved. It only helped that auto Index was among the worst performing indexes in FY22 and hence bounce back was also with a vengeance in FY23, Kashyap Javeri, Fund Manager, Emkay Investment Managers, said. Key Points
Economic TimesHema Malini takes metro, auto to reach home: 'Security couldn't believe…'
Hema Malini travelled by the metro and then by an auto to reach her home in Mumbai. See her posts here. | Bollywood Key Points
Hindustan Times