Fuel on fire: Petrol and diesel prices continue to soar and were hiked for the 15th consecutive day on Monday, even as global crude oil prices receded from record high levels. Notably, according to the latest prices, one litre of petrol retailed at Rs 78.27 vs Rs 78.12 in Delhi yesterday, a 15 paise rise. In […]
Business
Tata Motors RaceMo Sports Car Project Shelved
Tata Motors Group CFO P B Balaji told analyst that all current projects or categories that the company does not intend to continue further have been taken off at the moment. He said, “Now we’ve introduced a new capitalization gateway in our product approval process on affordability, which means even though if there’s a business […]
Toyota and Suzuki To Start Discussing Joint Projects, Technological Development And Vehicle Production
Toyota Motor Corporation and Suzuki Motor Corporation have agreed today to start discussing new joint projects in the fields of technological development, vehicle production, and market development. Toyota and Suzuki have been pursuing concrete forms of cooperation and have announced the mutual supply of vehicles for the Indian market and other joint efforts. Meanwhile, the […]
Tata Motors: Domestic Business reaches new heights
Tata Motors’ domestic business performed better than market expectations in the March quarter. That is music to the ears of shareholders who had been patiently awaiting for the turnaround. However, the joy has been tempered by the subdued performance at Jaguar & Land Rover (JLR). In the near future, JLR is expected to face headwinds […]
Rupee Falls To 18-Month Low Against US Dollar: 5 Points
The rupee weakened by 38 paise to end at 68.42 against the US dollar today. That marked the lowest closing level against the greenback since November 2016. Dollar strengthened against a basket of currencies on uncertainty over the outcome of US-China trade talks. US President Donald Trump said he was not pleased with recent trade […]
Bajaj Auto to infuse Rs 300 crore for new products, R&D
Bajaj Auto, the country’s fourth largest two-wheeler maker, plans to spend up to Rs 300 crore this financial year towards new launches, and research and development (R&D). The Pune-based company that makes bikes and three-wheelers under the brand Pulsar and RE respectively, said it would look to expand and strengthen the 150cc Pulsar segment in addition […]
Petrol, diesel prices increased after 19-day gap
State-run oil companies raised petrol prices by 17 paise a litre and that of diesel by 21 paise on Monday after a 19-day gap. The oil companies said that the price revision was necessary because of increasing international oil rates, PTI reported. After the revision, a litre of petrol in Delhi will cost Rs 74.80 […]
Rupee below 68-mark, Asia’s worst performer: Key facts
New Delhi The Indian currency gained some momentum on Wednesday as it recovered from a 16-month low to trade below the psychological 68-mark against the US dollar. The rupee on Tuesday plunged 56 paise, the second biggest single-day fall of 2018, before closing at 68.07. This is the lowest closing for the rupee since January 24, 2017 […]
Fraud hit PNB posts biggest quarterly loss of Rs 13,417 crore in Q4
Scam-hit Punjab National Bank today posted loss of Rs 13,416.91 crore for the January-March period, the biggest ever by any domestic lender, as bad loans surged. The state-owned bank had reported standalone profit of Rs 261.90 crore in the fourth quarter of the preceding fiscal, 2016-17. With regards to provision made for the loss incurred on account of Nirav Modi fraud, the bank said it provided […]