Maruti clocks biggest monthly sales in September
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Maruti Suzuki, the country’s biggest car maker, has reported its best ever monthly sales in September, growing over 29 per cent in the domestic market as dealers stock vehicles for deliveries in the festive season beginning on Saturday. Maruti’s growth will drive the industry to a strong double digit growth in September.
The company, which enjoys a 47 per cent share in the Indian market, sold 137,277 vehicles last month against 106,083 units in the same month last year. All segments of the company have grown by double digits, though the bulk of the growth has come from its utility vehicle segment which includes its latest product, Brezza.
The compact segment (Baleno, Swift and Dzire) and mini segment (Alto and Wagon R) have grown 12 and 25 per cent, respectively. Ciaz sales have grown 52 per cent to 6,544 units. The vehicle has consistently sold more than the previous market leader Honda City for last few months.
The H1 (April-September) domestic sales growth of Maruti stood at 12.1 per cent. Its exports in September also jumped 54 per cent to 11,822 units.
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At least nine people were burnt alive and 15 injured when a moving bus caught fire near Tauru in Haryana's Nuh district in the early hours of Saturday, police said.
The incident occurred around 2 am on the Kundli-Manesar-Palwal (KMP) Expressway. The bus was carrying around 60 people, all residents of Punjab's Hoshiarpur and Ludhiana, who were returning from pilgrim towns of Mathura and Vrindavan. All of them are relatives, police said.
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Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to $450 million via sale of dollar bonds, sources said.
JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said.
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The national capital on Saturday morning recorded a minimum temperature of 27.1 degrees Celsius, 0.6 notch above the season's average, according to the India Meteorological Department (IMD).
On Friday, Delhi witnessed 47.4 degrees Celsius in Najafgarh, making it the hottest place in the country.
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Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
The motion called for the royalty paid to its parent to climb to 5.25 per cent of net sales, net of taxes, compared to the current level of 4.5 per cent. The increase was proposed at a rate of 0.15 per cent per annum.
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Shares of Zee Entertainment soared up to 5.2 per cent at Rs 141.65 per share on the BSE in Saturday’s intraday trade. The hike in the stock prices came after the company delivered a turnaround in quarterly growth for the January-March quarter of fiscal year 2023-24 (Q4FY24).
In the March quarter, the company reported a consolidated net profit of Rs 13.35 crore, marking a reversal from a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal year.
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