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Listed major auto OEMs in India have varied businesses that makes it difficult to play the EV theme through them, says Kumar Rakesh, IT & Auto Analyst, BNP Paribas. «However, some of the auto component manufacturers have started building capabilities in the EV value chain and could be a key beneficiary of increased localisation of EV components in India,» he says in an interview with ETMarkets.com. Edited excerpts: Now that you have the December sales numbers, what is the broad outlook on the earnings of auto companies in Q3? Where do you think the good news will come from? Kumar Rakesh: On Q3 earnings, our sense is that 2W and 3W companies will outperform the PV OEMs and can see earnings growth of 25-30%, while PV OEMs can see a potential earnings growth of low double digits. This was on back of the strong festive demand for both PVs and 2Ws, albeit a higher base of PVs while a low base effect for 2Ws. Tractors were weak in Q3 and could see earnings degrowth, while CVs could see low-mid single digit earnings growth. While we see all the festive cheers already factored in the earnings expectation and the recent share price rally, we see a further recovery, especially in the rural segment can bring in some good news, especially for 2W players like HeroMotoCorp. However, more pain from the entry segment PV sales and increasing discounts can be potential negatives to watch out for.

Housing demand in India is projected to grow more than threefold and reach 93 million units by 2036 spurred by robust demand and supply in several tier-II and -III cities, according to Confederation of Real Estate Developers’ Associations of India (CREDAI).

During a recent shopping expedition, we encountered a consumer offer that turned the concept of present-value of money on its head. We were looking to buy a refrigerator and were informed that if we opted for a no-cost six month equated monthly instalment (EMI) plan, we would get a discount. No such discount was available on making the full payment instantly.

The Adani Group said it will invest $24 billion in Gujarat over the next five years creating 100,000 jobs. 100 countries participating Reliance Industries Ltd (RIL) proposed India's first carbon fibre facility at Hazira together with a green energy giga complex on 5,000 acres in Jamnagar in 2024. Addressing a packed Mahatma Mandir convention centre in Gandhinagar on Wednesday morning, Prime Minister Narendra Modi said India would be one of the top three global economies in the coming years. “The world looks at (India) as an important pillar of stability, a trusted friend, and an engine of growth in the global economy,” Modi told an elite gathering of corporate leaders and heads of state, including United Arab Emirates (UAE) president Mohamed bin Zayed Al Nahyan, Timor-Leste president José Ramos-Horta and Mozambique president Filipe Nyusi. “In the rapidly changing world order, India is moving ahead as Vishwa Mitra (friend of the world),” Modi said.

The yen fell 0.9% on the dollar overnight and 1.2% on the euro after data showed workers' real wages shrank for a 20th straight month in November — confounding officials wishes to see wage gains before tightening policy. The yen was under gentle pressure at 145.55 per dollar in morning trade and hit a six-week low of 159.99 per euro. The euro bought $1.0974 and other majors were steady on the dollar with all eyes on the U.S.

Prem Watsa, who helms the $84 billion Toronto-based investment giant Fairfax, reiterated his commitment to India, hailing the country's economic prospects. Fairfax's investment plans for India are on track despite macroeconomic headwinds, he said. «India has got one big advantage — two-thirds of the economy is consumer-oriented,» Fairfax Financial Holdings chairman Watsa told ET.

₹58.6 trillion. This increased to ₹157.4 trillion by 2022-23. That’s an addition of ₹98.9 trillion to the debt stock.

By Jorge Otaola

FOX Business correspondent Madison Alworth shares why for many first-time homebuyers, the American dream is delayed as a result of high mortgage rates and home prices on 'Varney and Co.'

By Steven Scheer

Maldives President Mohammed Muizzu has proposed to revive the free trade agreement with Beijing, but the move could push Male towards a debt trap. China's current share of Maldives total debt is 37% and there are fears that FTA will further increase debt share, pushing Maldives into a Sri Lanka-type crisis, ET has learnt. The Covid pandemic, notwithstanding India's generous assistance to the island nation, has dented Maldivian economy, according to observers.

Black, white, Hispanic and Asian adults in the U.S. largely agree that the government should focus on the economy and foreign policy issues in 2024

Pollution from greenhouse gases declined by nearly 2% in the U.S. in 2023.

The World Economic Forum says false and misleading information supercharged with cutting-edge artificial intelligence is the top immediate risk to the global economy

Viksit Bharat' conjures up discussions on economic definitions and terminologies, with focus on GDP. Using the current World Bank per capita nominal gross national income threshold of $13,845, a $22-trillion Indian economy will deliver a 'Viksit Bharat' for the projected 1.6-billion peak population. Much of the discourse today is on whether attaining the $22-trillion mark is an evidence-led projection or not. Sometimes, an optimistic view of this economic trajectory is brushed away as a leap of faith.

Gandhinagar: When the second phase of ArcelorMittal's Hazira steel plant completes by 2029, it will become the world's largest steel plant with a production capacity of 24 million tonnes, the steel multinational's chairman Lakshmi Niwas Mittal said on Wednesday. The first phase of the plant is expected to be completed by 2026, Mittal said at the Summit. The UK-based steel magnate also highlighted that Arcelor Mittal's investment is not only in steel but also in renewable energy and green hydrogen. Speaking about the institutionalised structure of the Vibrant Gujarat global business meet, Mittal commended the ideas, imagination, and process continuity rooted in the summit, and said it would significantly elevate India's pride on the global stage. «I had come here in September last year… Prime Minister (Narendra) Modi then briefed us on how this mega-global event (Vibrant Gujarat) has institutionalised structure on the basis of ideas, imagination, and process continuity.

India Inc is likely to see a median pay hike of 9.7% in 2024, compared to 9.5% last year, said the survey, as companies try to balance a focus on cost management with a strong emphasis on retention of critical talent.

MUMBAI : Reserve Bank of India (RBI) governor Shaktikanta Das will deliver the opening keynote address at the Mint BFSI Summit and Awards on Thursday, flagging off a full day of intense deliberations, debates and conversations around the theme of financial wellness in a changing world. Joining the central bank governor will be Debasish Panda, the chairperson of the Insurance Regulatory and Development Authority of India (Irdai); Kamlesh Varshney, whole-time member at capital markets regulator Securities and Exchange Board of India (Sebi); and veteran banker K.V.

greenhouse gases declined by nearly 2% in the United States in 2023, even as the economy expanded at a faster clip, a new report finds. The decline, while «a step in the right direction,'' is far below the rate needed to meet President Joe Biden's Rhodium Group, an independent research firm.

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BMW AG is spending €650 million ($712 million) to retool its parent factory in Munich into the company’s first site that will only make fully electric vehicles, part of a push to challenge leaders Tesla Inc. and BYD Co. The overhaul involves four buildings including a new assembly line and will be completed by the end of 2027, BMW said Wednesday.