Innova Financial News

Maruti Suzuki on Saturday reported marginal growth while Hyundai and Tata Motors posted a decline in their sales in February as a slowdown in the market continued with demand remaining muted. On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor posted double-digit growth riding on their SUV and MPV models. Maruti Suzuki India (MSI) said its total domestic passenger vehicle sales were at 1,60,791 units last month as compared with 1,60,271 units in the year-ago month, a marginal year-on-year growth. Sales of the company's mini segment cars, comprising Alto and S-Presso, declined to 10,226 units as against 14,782 units in same month last year, while those of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, and WagonR, rose to 72,942 units as compared to 71,627 units in the year-ago month.

Toyota Kirloskar Motor on Saturday said its overall sales increase 13 per cent year-on-year to 28,414 units in February. The company sold 25,220 units in February 2024. Last month, the company dispatched 26,414 units to its dealers in the domestic market. It also exported 2,000 units. «MPVs and SUVs continue to be the primary growth drivers, contributing 68 per cent to overall sales,» Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business Varinder Wadhwa said in a statement.

sales growth in the first half of this fiscal year, underscoring continued weak consumer sentiment and sluggish demand in the world’s third-largest automobile market. Mahindra & Mahindra (M&M), Toyota Kirloskar Motor and Kia India reported higher sales, while others including the top three—Maruti Suzuki, Hyundai and Tata Motors saw sales decline during the period. Sales at Toyota Kirloskar—the maker of Fortuner and Innova Hycross models—grew more than 31%--the fastest pace among all automakers, in a market where overall volumes expanded by only 0.5%. M&M and Kia followed, clocking sales growth of 21% and 5.6%, respectively, according to data from the Society of Indian Automobile Manufacturers (SIAM).

Vinesh Phogat, who recently transitioned into politics after her disqualification from the Paris Olympics, has filed her nomination for the upcoming Haryana Assembly elections. Contesting from the Julana constituency in Jind, Vinesh provided a detailed declaration of her assets and income in her nomination affidavit. Vinesh, a multi-time Commonwealth Games gold medallist, revealed that she owns three vehicles: a Volvo XC 60 worth Rs 35 lakh, a Hyundai Creta valued at Rs 12 lakh, and a Toyota Innova priced at Rs 17 lakh. She is currently repaying a loan of Rs 13 lakh taken to purchase the Innova. Additionally, her husband, Somvir Rathee, owns a Mahindra Scorpio, which is valued at Rs 19 lakh. In terms of property, Vinesh owns a plot in Sonipat, which has a valuation of Rs 2 crore. Her income declaration for the last financial year, as per her IT return, amounted to Rs 13,85,000. Alongside these assets, she reported having Rs 1,95,000 in cash on hand.

Maruti Suzuki, Hyundai Motor India and Toyota Kirloskar Motor are among automakers gearing up to introduce more than half a dozen seven-seater utility vehicles over the next year to capitalise on surging demand for larger passenger vehicles, with buyers opting to travel more with families since the pandemic. While first of the block will be the facelift version of Hyundai’s Alcazar model in early September, Maruti Suzuki and Toyota are readying seven-seater versions of the Grand Vitara and the Hyryder sport-utility vehicles respectively for launch in 2025. Korea’s Kia too is likely to roll out a seven-seater EV based on its popular UV model, Carens next year, people said. Others include upgraded versions of MG Motor’s Gloster, Jeep’s Meridian and Kia’s Carnival models at the more premium end of the market.

₹1 lakh. Bhutani received a favourable order at the very first hearing: he cited the state government's EV policy of 2022, which stated that EVs registered in Uttar Pradesh were eligible for a 100% road tax waiver for the first three years that the policy was in effect. The policy defined EVs as automobiles using an electric motor driven by batteries, ultra-capacitors or fuel cells.

India's largest and third leopard safari was opened to the public at Bannerghatta Biological Park (BBP), located 25 kilometers south of Bengaluru. The leopard safari, inaugurated on Wednesday, currently houses eight leopards, with plans to increase this number soon. The 20-hectare safari is secured with railway barricades and enclosed with 4.5-meter-tall chain-link mesh and mild steel sheets to ensure the leopards remain within the boundaries The new leopard safari is part of BBP's overall safari experience, which includes various other attractions.

In its annual results to 31 March 2024 published today (24 June), TENT noted the realisations came from the disposals of the Boxed LED facility, the BESS portfolio and the CHP portfolio, as well as the repayment of the Innova Development debt facility. Triple Point Energy Transition realises £11.6m as part of managed wind-down These represented 52.2% of the trust's gross asset value as of the end of March. The only realisation «below par» was one regarding the disposal of the CHP portfolio, TENT noted. This was because it was refinanced for a total of £17.5m, of which £14.5m was re...

While the company's legal parent name will remain ‘The Bank of New York Mellon Corporation', the brand has been modernised to become simply ‘BNY', with a new teal logo to mark the change. As part of the 240 year old bank's refurbishment, its subsidiaries BNY Mellon Investment Management will also be shortened to BNY Investments; BNY Mellon Wealth Management will become BNY Wealth and BNY Mellon Pershing has been rebranded to BNY Pershing. BNY Mellon IM adds US direct lending strategy to platform amid private market demand «The updated brand conveys trust, resilience and innova...

Gautam Budh Nagar (Noida) boasting assets valued in crores. BJP's Mahesh Sharma Leading the pack is Mahesh Sharma, representing the Bharatiya Janata Party (BJP), whose financial portfolio has witnessed a remarkable surge over the past half-decade. From Rs 47 crore in 2019, Sharma's assets have skyrocketed to an impressive Rs 83 crore this year. A significant portion of his wealth is attributed to his ownership stake in the Kailash Group of hospitals, a prominent healthcare conglomerate in the region. Furthermore, his spouse, Uma Sharma, a distinguished gynaecologist, holds key positions within these medical establishments, contributing to their combined financial prowess.

Urban Cruiser Taisor, the brand's newest SUV offering. In a strategic move, Toyota has opted for collaboration with Maruti Suzuki, releasing the Taisor as its fourth rebadged vehicle from the Maruti lineup. This partnership underscores Toyota's commitment to expanding its footprint in India's competitive automotive landscape.

Hybrid sales overshadowed electric cars in India in 2023. This is in spite of the fact that hybrids do not get tax concessions or incentives—unlike battery-operated cars. Is this just a blip or a definitive shift in consumer preference? What is driving it? Mint explains: In 2023, sale of hybrid cars touched an all-time high of 82,607 units.

Binance has unveiled its joint venture crypto exchange Binance Thailand, which comes in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.

Binance Thailand has opened its cryptocurrency exchange in Thailand for trading, the company said on Tuesday. The exchange, Gulf Binance, is a joint venture between Binance and Thailand's Gulf Innova that will serve as an exchange and brokerage platform allowing users to buy and sell digital assets with local currency pairings, according to a statement.

recurrent bans on the movement of old petrol and diesel vehicles imposed by the local authorities to contain air pollution. Replacement demand for vehicles in the NCR has shot up by 30%, outpacing a 22% increase reported countrywide, they said. This has come along with a marked shift away from diesel to more environment-friendly options like CNG, electric and strong hybrid vehicles. The share of diesel in new car sales in the NCR declined to 5.8% this fiscal year from 7.5% in FY23 and 8.8% in FY22.

NEW DELHI : Toyota Kirloskar Motor, the Indian subsidiary of Toyota Motor Corp, advocates for boosting demand for electric powertrains in India by promoting the adoption of hybrid vehicles alongside electric vehicles (EVs). The automaker believes that by fostering demand for both hybrid EVs (HEVs) and battery EVs (BEVs) India can achieve the scale to develop a competitive local production of electrified technologies, a top company official told Mint on Friday.

Innova Captab made a tepid debut on the exchanges on Friday, listing just 2% above the issue price. The lackluster debut performance fell way short of expectations, which highlights the potential risks associated with the highly competitive market, regulatory environment, and currency fluctuations. However, the stock jumped 20% post the listing to hit the upper circuit. Innova Captab has some core strengths, including a strong market position, robust financials, and strategic growth initiatives. «Given the uncertain outlook, a cautious approach is warranted, and investors may exit their position; however, those who want to hold it should maintain a stop loss at the issue price,» said Shivani Nayti, Head of Wealth, Swastika Investmart. The IPO of Innova Captab received tremendous response from investors with 55.26 times subscription at close. The issue received bids of 50,16,58,245 shares against the offered 90,78,010 shares. Innova Captab is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution, and marketing and exports. Its business includes CDMO business providing research, product development and manufacturing services to Indian pharmaceutical companies, a domestic branded generics business and an international branded generics business. The number of CDMO products sold by the company has grown by 131.43% from 1,066 in FY21 to 2,467 in FY23.

₹3000 Crore, there will be an offer for sale of up to 3,200,000 Equity Shares having face value of ₹10 each. Also Read- Trident Techlabs share price lists at ₹98.15 on NSE SME- a stellar 180% premium over the issue price Of these 3,200,000 shares under the offer for sale, up to 2,700,000 Equity Shares are being offered by Waaree Sustainable Finance Private Limited (formerly known as Mahavir Thermoequip Private Limited), Promoter Selling Shareholder.

₹4.10 per share. However, the stock witnessed strong buying interest post listing and went on to touch an intraday high of ₹542.50 apiece on NSE.

Buy or sell stocks for today: Following strong sentiments in Asian stock market, Dalal Street ended higher for fifth straight session on Thursday. Nifty 50 index ended at 21,778 levels after climbing to a new peak of 21,801. BSE Sensex finished at 72,410 levels after hitting record high of 72,484.

₹15.02 crore from the issue which was entirely a fresh issue of 16.88 lakh shares being sold at a price of ₹89 per share. AIK Pipes IPO allotment is expected to be finalized today on Friday, December 29. AIK Pipes And Polymers shares will list on BSE SME with a tentative listing date fixed on January 2, 2024.