COST Financial News

Shashank Srivastava, ED, Maruti Suzuki, says: “I do not think there is any move to push back CNG sales. Clearly, yes, there are measures being announced for a push up for EVs, but it is not really a push down for CNG. CNG is also a very fuel-efficient powertrain fuel and as long as the running cost of CNG is lower compared with gasoline or diesel, we will find a large rate adoption of CNG. In fact, CNG adoption has gone up continuously in the last five years.” First up, let us talk about Navratri which just got over yesterday. How have the sales been because if you go by the newspaper reports,it seems to have been flat this time? Yes. if you look at the actual retail sale, compared with Navratri of last year, they would appear flat. Roughly in the industry, about 2.2 lakh vehicles were retailed last year and similar numbers have emerged this year. However, the exact comparison may be a little misleading because the first three days of Navratri last year were also in the month end. Navratri started last year on 26th of September,. So 26, 27, 28, 29, 30, the first five days of Navratri, also were the month end. Month end normally gives a very big jump in retails as the cases close on the financing side largely and therefore, the last year number would have had that push up.

By Victoria Waldersee

local train services in Mumbai will be cancelled from October 27 to November 5, as Western Railway (WR) will be implementing blocks for commissioning. The cancellations will affect train services towards Virar and Churchgate. The reason behind these cancellations is the ongoing construction of the 6th line project, which aims to enhance the carrying capacity of the suburban train network.

India registers 108% surge in transactions for travel, online home services; BookMyShow, MyJio most preferred merchants According to the survey's findings, 84 percent of respondents expressed their desire for the government and its public sector units (PSUs), including IRCTC, to cease the practice of charging convenience fees or service charges and instead promote the Digital India initiative. This demand reflects the sentiments of consumers who seek a more cost-effective and convenient online experience.

The festive season is a time of joy, celebration, and, of course, shopping. It’s a time for families to come together, exchange gifts, decorate our homes, and have a good time. However, with all the excitement, it’s easy to overspend and find yourself grappling with post-festive season financial stress.

The Indian hotel industry is expected to report double-digit revenue growth in FY24, supported by the sustenance of domestic leisure travel, demand from meetings, incentives, conferences, and exhibitions (MICE), and business travel, along with an increase in foreign tourist arrivals (FTAs), said a report by ICRA. The industry has also benefited from the G20 summit and the ongoing ICC World Cup 2023, it added. 

(Reuters) -Dutch paints and coatings maker Akzo Nobel (OTC:AKZOY) has set out a plan to save costs and improve supply chain efficiency, after forecasting full-year core earnings towards the lower end of its previous forecast due to lower than expected volumes.

By Joyce Lee and Heekyong Yang

Narendra Modi will on Thursday launch a scheme in Maharashtra aimed at benefitting over 86 lakh farmers and launch projects worth over Rs 7,500 crore and then travel to Goa to inaugurate the 37th National Games. An official statement said Modi will begin his Maharashtra tour by offering prayers at the famous Shri Saibaba temple in Shridi and inaugurate its new «darshan queue complex». He will perform «Jal Pujan» of Nilwande Dam and dedicate a canal network of the dam to the nation and later attend a public programme in Shirdi to inaugurate and lay the foundation stone of multiple development projects worth about Rs 7,500 crore in sectors like health, rail, road and oil and gas.

Central Bank of India, and Bank of Maharashtra, up over 36 percent each. Meanwhile, Punjab National Bank, Indian Overseas Bank, Union Bank of India, UCO Bank and Punjab & Sind Bank have also advanced between 15 and 25 percent. On the other hand, in the Nifty Private Bank index, of its 10 constituents, 6 are in the green whereas 4 have given negative returns.

LONDON (Reuters) — Reckitt, maker of Dettol and Lysol cleaning products, on Wednesday missed third-quarter like-for-like sales expectations despite raising product prices to help offset rising raw material costs, as some shoppers refused to pay more.

credit cards, and the services of fintech companies that offer the “Buy Now, Pay Later" option. Opting for a no-cost equated monthly installment (EMI) plan while shopping can provide a hassle-free way to make significant purchases without incurring any interest expenses. However, it’s essential to bear a few considerations in mind to ensure a seamless and trouble-free experience.

By Tom Sims and Frank Siebelt

Torrent Pharmaceuticals share price gave up early gains to trade over 2% lower on Wednesday after the company reported a strong rise in its net profit and revenue for the second quarter of FY24. Torrent Pharma declined as much as 2.74% to ₹1,822.80 apiece on the BSE. The pharma company posted a consolidated net profit of ₹386 crore for the September quarter, up 24% from a year ago, while its revenue rose by 16% to ₹2,660 crore from ₹2,291 crore a year earlier.

Kotak Mahindra AMC recently shared on his social media platform X (erstwhile Twitter) some essential insights, specifically emphasising the importance of recognizing trustworthy and competent management teams, promoters, and entrepreneurs as a key factor in attaining enduring success in the Indian market. Evaluating management becomes increasingly crucial in the ever-changing realm of mid and small-cap enterprises, where leadership frequently stands as the primary catalyst for growth. Tibrewal firmly asserted how P/E signifies not only “Price/Earnings" but also “Promoter+ Ethics".

Vietnamese automaker Vinfast has plunged right into the crowded and hypercompetitive U.S. auto market, gambling that if it can sell its electric vehicles to finicky Americans, it can succeed anywhere

Nikola Corp. has been awarded $165 million in an arbitration proceeding with its founder and former executive chairman

A decade after they were envisioned in the aftermath of Superstorm Sandy’s destruction, two of the largest flood control projects designed to protect densely populated cities in New Jersey just outside New York City are getting underway

Google’s digital advertising sales growth accelerated during the summer, advancing a recent revival that helped its corporate parent Alphabet Inc. to deliver a quarterly profit that exceeded analysts' projections

First it was Ford, then Stellantis, and now a General Motors factory has been added to the growing list of highly profitable plants where the United Auto Workers union is on strike

Amber Enterprises and Macquarie remained neutral on Nestle India. HSBC downgraded HUL to hold and Motilal Oswal upgraded PNB Housing Finance to buy. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on Amber Enterprises: Buy| Target Rs 3650 CLSA maintained a buy rating on Amber Enterprises with a target price of Rs 3650.