Business Standard

Automotive

TVS Mobility arm acquires automotive components supplier Roberto Nuti

TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100 per cent purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement. It also said that both companies will continue to operate normally during the integration period. TVS Mobility has a well-established presence in Europe with some of the other businesses that are part of the group such as TVS Supply Chain Solutions and TVS Srichakra Ltd. Following this collaboration, the Bologna (Italy)-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility, it said. "T

TVS Mobility arm acquires automotive components supplier Roberto Nuti
Updated On : 01 Jul 2024 | 5:40 PM IST

Popular Vehicles & Services Q4 results: PAT rises 40% to Rs 20 crore

Automotive dealership firm Popular Vehicles & Services Ltd on Wednesday reported 40 per cent year-on-year increase in Profit After Tax (PAT) at Rs 20.1 crore for the March quarter. The Kochi-headquartered company had posted a PAT of Rs 14.3 crore in the fourth quarter of FY23, according to a statement. Total income grew 4.6 per cent at Rs 1,372 crore as against Rs 1,311 crore in Q4 FY23, it said. The company said the total vehicles retailed during March quarter FY24 declined 10.2 per cent to 11,116 units as against 12,372 units in the year-ago period. The company, which is the country's second listed auto dealership chain, also said that out of net IPO proceeds of Rs 230 crore, Rs 192 crore, supposed to be used for debt reduction, has already been deployed in FY24. Popular Vehicles & Services got listed on exchanges on March 19 this year. "In FY24, the sales volume, excluding service business de-grew by 4 per cent, however the revenue increased by 14 per cent. The growth was ..

Popular Vehicles & Services Q4 results: PAT rises 40% to Rs 20 crore
Updated On : 29 May 2024 | 7:46 PM IST

Mahindra XUV 3XO bookings to start tomorrow; check features, safety, price

Mahindra XUV 3X0 will start accepting bookings tomorrow, days after being launched in India. The bookings will officially begin on May 15. Here's all you need to know

Mahindra XUV 3XO bookings to start tomorrow; check features, safety, price
Updated On : 14 May 2024 | 3:10 PM IST

FPIs jettison FMCG and auto shares during March voyage, shows data

FMCG sells short on hope; auto stocks rev up for profit pullback

FPIs jettison FMCG and auto shares during March voyage, shows data
Updated On : 07 Apr 2024 | 9:57 PM IST

Meity chips away at doubts, defends its domestic semiconductor policy

Govt's sequential approach targets mature nodes, foreseeing a conservative $100 billion chip demand in five years

Meity chips away at doubts, defends its domestic semiconductor policy
Updated On : 04 Apr 2024 | 10:36 PM IST

Sensible opportunities emerging in largecap space: Nippon India MF's Bhan

Bhan mentions that sectors such as automotive (auto), pharmaceutical (pharma), and industrials have performed particularly well in the ongoing result season

Sensible opportunities emerging in largecap space: Nippon India MF's Bhan
Updated On : 14 Nov 2023 | 10:28 PM IST

Amara Raja Batteries to expand into two-wheeler market to power growth

The company, which owns the Amaron battery brand, aims to penetrate into two-wheeler EV market first with chargers and eventually through battery packs as it expands its so-called 'new energy' segment

Amara Raja Batteries to expand into two-wheeler market to power growth
Updated On : 16 Aug 2023 | 5:45 PM IST

India major centre of gravity for automotive major Stellantis: Co official

India has become a major 'centre of gravity' for global automotive major Stellantis as it expands internationally, especially with digital and software hubs in the country supporting the organisation's technological future, according to a senior company official. Stellantis, which came into existence after the merger of Fiat Chrysler Automobiles and the French PSA Group in 2021, currently sells its Jeep and Citroen brands in the country. It has three manufacturing plants, two R&D centres and two ICT hubs in India. "We have got 4,000 employees in the region (India and the Asia Pacific), and the vast majority of those employees are right here in India. We're creating jobs here, two R&D centres and two IT centres. It's not only creating for India, but it's also creating for the world," Stellantis, India and Asia Pacific (IAP) Region, Head of Sales, Marketing and Regional Operations, Billy Hayes told PTI. The validation for the vehicles sold outside of India is done here, given ...

India major centre of gravity for automotive major Stellantis: Co official
Updated On : 06 Aug 2023 | 11:50 AM IST

ALD Automotive completes acquisition of LeasePlan, makes local mgt changes

With this deal, the combined entity now has a total of 3.31 million vehicles managed worldwide

ALD Automotive completes acquisition of LeasePlan, makes local mgt changes
Updated On : 23 May 2023 | 9:11 PM IST

High inflation, lower-demand drive car sales in Pakistan down by 84% YoY

For April 2023, only 2,844 units were sold against 18,826 units sold in April 2022

High inflation, lower-demand drive car sales in Pakistan down by 84% YoY
Updated On : 19 May 2023 | 4:56 PM IST

Results preview: Ebitda margins of auto cos to take the wheel in Q4, again

Analysts indicate that in future, gross margins might come under pressure

Results preview: Ebitda margins of auto cos to take the wheel in Q4, again
Updated On : 24 Apr 2023 | 10:16 PM IST

Improving outlook, upgrades to keep wheels turning for auto companies

In addition to volumes, margins, too, are expected to expand

Improving outlook, upgrades to keep wheels turning for auto companies
Updated On : 06 Mar 2023 | 6:12 AM IST

Non-white car sales see marginal rise, but white still top choice in India

Car sales black, grey, blue, red, green, and gold rose by a few percentage points in 2022

Non-white car sales see marginal rise, but white still top choice in India
Updated On : 25 Feb 2023 | 5:08 PM IST

Better grip on future for tyre stocks: Tread on easing input cost, demand

Higher raw material prices had punctured sequential margins of major tyremakers

Better grip on future for tyre stocks: Tread on easing input cost, demand
Updated On : 28 Nov 2022 | 6:10 AM IST

Electric sports bike firm Ultraviolette get funding from Qualcomm, Lingotto

Bengaluru-based start-up will launch motorcycle on November 24, aims to be in international markets

Electric sports bike firm Ultraviolette get funding from Qualcomm, Lingotto
Updated On : 22 Nov 2022 | 5:19 PM IST

House panel moots spl projects to fill 29 mn skill gap in automotive sector

Calls for involving the industry to bridge the huge gap

House panel moots spl projects to fill 29 mn skill gap in automotive sector
Updated On : 03 Oct 2022 | 6:03 PM IST

Bharat Gears trades ex-date for 1:2 bonus; stock zooms 20%

The management is cautiously optimistic of growth in Indian markets for automotive components, agricultural machinery and construction equipment

Bharat Gears trades ex-date for 1:2 bonus; stock zooms 20%
Updated On : 27 Sep 2022 | 2:53 PM IST

Visteon to come up new mfg unit in India; sets sight on West and North

This is in addition to the expansion plans at its existing manufacturing unit in Chennai

Visteon to come up new mfg unit in India; sets sight on West and North
Updated On : 22 Sep 2022 | 9:39 PM IST

Dealers and automakers have a tumultuous relationship, says FADA President

Says manufacturers' financial clout has led to inequitable contracts between the two

Dealers and automakers have a tumultuous relationship, says FADA President
Updated On : 13 Sep 2022 | 7:33 PM IST

Vehicle sales up 8% in Aug, two-wheelers cause for concern: FADA

Tractor sales decline 32% despite good monsoons; three-wheelers do modestly compared to 2019

Vehicle sales up 8% in Aug, two-wheelers cause for concern: FADA
Updated On : 09 Sep 2022 | 12:07 AM IST