Ford India sales up 22% in November
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Ford India on Thursday reported a 22.19% growth in total sales at 21,004 units in November this year, driven by overseas shipments.
The company had sold 17,189 units in the same month of last year, Ford India said in a statement.
Domestic sales, however, declined by 21.62% to 6,876 units last month as against 8,773 units in the same period a year ago, it said.
Exports during the month surged by 67.86% to 14,128 units as compared to 8,416 units in November 2015, it added.
"While the macro-economic indicators continue to be positive, the auto industry does face short-term headwinds given the recent demonetisation drive," said Anurag Mehrotra, executive director, Marketing, Sales & Service, Ford India.
Last month, Ford Motor Company Executive Chairman William Clay Ford Jr, on his India visit, announced that the company would expand its product development and global business services capabilities in India.
The investment of nearly $195 million (Rs 1,300 crore) into the Ford Global Technology and Business Center will set the foundation for growing the Ford team in India, the company said.
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Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
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Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
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Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
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Air India Express will give first-time voters aged 18 to 22 a 19 per cent discount on domestic and international flight tickets for travelling to their home constituencies and back, the Economic Times (ET) reported.
This deal is part of the airline’s "#VoteAsYouAre" campaign, “designed to mobilise first-time voters to fly home to exercise their constitutional right and help guide the flight path of the nation", ET reported.
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National Stock Exchange (NSE) on Wednesday introduced derivative contracts on Nifty Next 50 index, which received a positive response from market participants.
More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
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