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News on Medial
PV sales continue on upward trajectory in February
Money Control
·
1y ago
Medial
Passenger vehicle (PV) sales in India have continued to rise for the second consecutive month in 2024, with carmakers delivering approximately 373,177 units to dealers. This marks the highest auto wholesales for February in any year, driven by strong demand for SUVs, positive consumer sentiment, increased availability of waitlisted models, and new rollouts. Overall, PV sales have increased by 11.3% year-on-year, reaching a total of 3,859,000 units for the April 2023-February 2024 period. Maruti Suzuki India, Hyundai Motor India, M&M, Tata Motors, MG Motor India, and Toyota Kirloskar Motor reported positive sales growth.
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Related News
‘Buoyant Bharat’ boosts passenger vehicle & two-wheeler sales growth in February
Thehindubusinessline
·
1y ago
Medial
In February 2024, passenger vehicle (PV) sales in India saw growth, driven by robust demand for new models. Maruti, Hyundai, Tata, Mahindra, Toyota, and Honda all reported an increase in wholesale numbers. Maruti's domestic sales grew by 9%, with SUVs performing well, while Hyundai reported a 7% growth and saw increased rural penetration. Tata Motors' PV sales increased by 20%, led by strong SUV sales. In the two-wheeler segment, Hero MotoCorp witnessed a 19% increase in sales, while TVS Motor and Bajaj Auto reported growth as well. However, commercial vehicles and tractor sales declined during the same period.
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Growing faster than industry, to maintain pace: PE-backed Home First Finance’s CEO
VCCircle
·
5m ago
Medial
Home First Finance Company India Ltd, a private equity-backed mortgage lender, experienced a significant 33% growth in assets under management, reaching Rs 11,949 crore by December 31. This expansion was primarily fueled by an increase in disbursements. The company, supported by firms like Warburg Pincus and True North, aims to maintain this rapid growth pace, surpassing industry standards. CEO Manoj Viswanathan spearheads these efforts, focusing on strategic measures to continue the upward trajectory.
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India-UK FTA to boost competitiveness of local tyre makers in British market: ATMA
Economic Times
·
10d ago
Medial
The India-UK free trade agreement significantly boosts the competitiveness of Indian tyre manufacturers by removing import duties on tyres exported to the UK. The Automotive Tyre Manufacturers' Association (ATMA) highlights that this agreement enhances Indian tyre exports' price competitiveness and market access, fostering growth. Indian tyre exports to the UK have already seen an increase, and with this agreement, the upward trajectory is expected to continue, benefiting the Indian tyre industry globally.
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Nvidia stock is on a tear. This ‘next big thing’ can drive more gains.
Livemint
·
1m ago
Medial
Nvidia’s stock has been performing exceptionally well, driven in part by CEO Jensen Huang’s promotion of robotics as the “next big thing.” The company's market capitalization reached $3.89 trillion, nearing Apple's record. Nvidia’s share prices have seen consistent growth, and investments in emerging technologies like humanoid robots may continue to propel this upward trajectory. The U.S. markets were paused for the Fourth of July holiday, providing a brief halt to Nvidia’s rally.
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Zomato Touches All-Time High At INR 173.45 During Intraday Trading
Inc42
·
1y ago
Medial
Shares of Zomato, the Indian food tech major, reached an all-time high of INR 173.45 on the BSE on Friday. The upward trajectory is attributed to the company's consistently improving fundamentals and favorable market conditions. Despite shedding some gains later in the day, Zomato closed the week at a record price of INR 166.5. The turnaround in Zomato's fortunes has been driven by the growth of its subsidiary Blinkit, which has been experiencing significant growth in its quick commerce business. Analysts are optimistic and expect the stock to continue its rally towards INR 200 in the coming months.
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Vehicle-makers bet big on rural drive
Thehindubusinessline
·
1y ago
Medial
Passenger vehicle (PV) sales in rural areas have seen significant growth, outpacing the urban market. Maruti Suzuki India (MSIL) reported a rural PV growth rate of 11.7% compared to 8% in urban areas, fueled by near-normal monsoon and higher Rabi sowing. MSIL expects rural sales to surpass eight lakh units, with a rural penetration rate of around 45%. Tata Motors also experienced strong growth in rural markets, with sales volumes in FY24 five times higher than in FY20. Hyundai Motor India also noted a significant increase in the contribution from rural markets to its total sales. The growth in rural sales is attributed to the expansion of dealer networks, improvements in road infrastructure, and increased investment in rural areas.
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Searchlight: Jell Pharma's revenue breaks out of a range, but is it sustainable?
VCCircle
·
10m ago
Medial
Mumbai-based health and beauty products manufacturer Jell Pharmaceuticals Pvt Ltd. has experienced a return to double-digit revenue growth for the year ending March 2024. However, concerns remain about the sustainability of this growth. The company produces a range of products including talcum powder, lip balm, and skin cream, but challenges lie ahead in maintaining their upward trajectory.
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Chartist Talks: FII long-short ratio hints at Nifty 50 consolidation in coming few sessions despite strong underlying trend, says SBI Securities' Sudeep Shah
Money Control
·
10m ago
Medial
According to Sudeep Shah of SBI Securities, the Nifty 50 is likely to consolidate in the coming sessions before continuing its upward journey and testing 26,500 and 26,750 in the short term. Shah also suggests that Balrampur Chini, BPCL, Exide Industries, Polycab India, Hindustan Petroleum Corporation, Colgate Palmolive, Cipla, and Divi's Laboratories are good picks based on roll-over data. The FII long-short ratio indicates a strong bullish bias, but a slight cool-off may occur. The Nifty Auto index is expected to continue its positive momentum, with Polycab India likely to test Rs 7,400 and Rs 7,600 levels. Selective PSU stocks such as Gail, HPCL, and BPCL have also shown strong moves and are expected to continue their upward journey.
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Apple's iPhone China shipments in February look even worse than estimated
Business Insider
·
1y ago
Medial
Apple's iPhone sales in China continue to decline, with a 33% drop in shipments in February compared to the same month in 2023. This follows a 39% decline in January. Counterpoint Research had previously estimated a 24% decline in iPhone sales in China during the first six weeks of the year. Apple is facing strong competition from Huawei, as well as challenges from government bans on iPhones and an economic slowdown. The company's CEO, Tim Cook, recently visited China in an attempt to strengthen ties in the country.
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US solar keeps surging, generating more power than hydro in 2025
Arstechnica
·
2m ago
Medial
In early 2025, the U.S. saw a significant 44% increase in solar power production compared to the previous year, outpacing hydropower. Despite this growth, rising demand has led to increased coal use by 23%, as renewable sources like wind and solar couldn't fully offset it. A noticeable uptick in electricity demand highlighted the continuing gap, with solar outproducing hydro when small-scale contributions were included, signaling a persistent upward trajectory in solar energy's role in U.S. power generation.
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