Floods, delayed start to festive season may hit tractor sales in July-September: Mahindra and Mahindra
Posted on 6th September 2018 |
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| Mahindra and Mahindra (M&M) managing director Pawan Goenka on Wednesday said tractor sales may be subdued during the July-September quarter because of floods in Kerala and several other parts of the country as well as a delayed start to the festival season which perks up buying. However, Goenka added that sales are expected to pick up during the October-December quarter. Speaking to a business news channel, he said the tractor industry will grow as per guidance at 12-14% during the current fiscal. Unlike last year when the major festivals fell in September, this year they fall in October. Sales of passenger vehicles, tractors etc got dented in August because of floods in certain parts of the country and September is a month when Shraddh falls which is considered inauspicious for new purchases. Goenka said M&M sold a total of 77,380 units of tractors during the July-September quarter in FY18, but during July-August this fiscal, sales have been of around 37,949 units. “In spite of rising input costs, we will be able to maintain our margins with rise in volumes in the festive season since increased volumes give enough opportunity to spread fixed cost,” he added. During April-June, the company commanded a market share of 43.3% ahead of other major industry palyers, including TAFE (Tractors and Farm Euipment), Sonalika and Escorts which have 18.8%, 11.3% and 10.7% market share, respectively. During the April-June quarter, M&M tractor sales were up 19% year-on-year at 97,360 units while the overall tractor sales grew by 27%. |
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Uber Eats may sell Indian biz to Swiggy by March, keep 10% stake: Report
Posted on 22nd February 2019 |
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Uber Eats, the food delivery arm of ride-hailing app Uber Technologies Inc, is close to a deal to sell its Indian business to Bengaluru-based Swiggy, the Economic Times reported on Friday. The share-swap deal is expected to close by next month and will give Uber a 10 percent stake in food delivery service Swiggy, the paper said, citing people privy to the development. |
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Samsung S10+ to hit Indian shelves from Mar 8 priced Rs 73,900 onwards
Posted on 22nd February 2019 |
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Buyers of Samsung’s Galaxy S series of premium smartphones will have to shell out close to Rs 1.18 lakh to get their hands on the top-end model of the device that starts selling in India from March 8.
Samsung had launched three models - Galaxy S10+, Galaxy S10 and Galaxy S10e - in San Francisco on February 20. These flagship devices will compete head-on with Apple’s iPhone that is seeing sales slowdown in many markets, including China. |
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GMR, Terna sign agreement for new airport in Greece; to invest 500 mn euros
Posted on 22nd February 2019 |
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GMR Infrastructure on Friday said its subsidiary GMR Airports and its Greek partner Terna Group have signed a concession agreement for construction of the new international airport in Greece's island Crete. The consortium intends to invest over EUR 500 million (approx Rs 4,034.28 crore) for development of the new airport, GMR Infrastructure said in a regulatory filing. |
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Petrol prices hiked to Rs 71.29 in Delhi; check latest price for metros
Posted on 22nd February 2019 |
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Oil marketing companies hiked the price of petrol by 14-15 paise and that of diesel by 16-18 paise a litre the major metros on Friday. In Delhi, petrol prices were hiked by 14 paise to Rs 71.29 a litre as against Rs 71.15 yesterday. One litre of diesel can be purchased for Rs 66.48 in the national capital. In case of Mumbai, one litre of petrol can be purchased for Rs 76.93 up from Rs 76.79 per litre, implying a 14 paise hike. The diesel cost has been raised to 69.63 in the financial capital. In Kolkata, one litre of petrol is retailing at Rs 73.39, while diesel can be bought for Rs 68.27. In Chennai petrol prices have been hiked to Rs 74.02, while consumers will now have to pay Rs 70.25 in Chennai. The revised rates are applicable from 6 am on Friday morning. |
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Bata India hits record high; stock zooms 50% in 4-months
Posted on 22nd February 2019 |
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Shares of Bata India hit a new high of Rs 1,301 apiece, up 1 per cent on the BSE, surging 50 per cent in past four months after it reported a strong earnings growth in December 2018 (Q3FY19) quarter and foreign portfolio investors buying. In comparison, the S&P BSE Sensex was up 6 per cent during the same period. Thus far in the calendar year 2019 (CY19), Bata India has outperformed the market by gaining 15 per cent, against unchanged benchmark index. In CY2018, it soared 52 per cent, as compared to a 6 per cent rise in the Sensex. |
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