Bajaj Auto announces Rs 5,600-crore share buyback
Pune-based automobile company Bajaj Auto Ltd officially informed the stock exchange about its second share buyback in two years on Wednesday, adding that it will buy back shares worth Rs 5,633 crore.
Pune-based automobile company Bajaj Auto Ltd officially informed the stock exchange about its second share buyback in two years on Wednesday, adding that it will buy back shares worth Rs 5,633 crore.
The stellar performance was mainly attributed to the GST 2.0 boost, according to data shared by the Federation of Automobile Dealers Associations (FADA).
The automobile industry emerged as the standout winner. Under GST 2.0, smaller sub-4 metre cars were shifted to the 18 per cent tax slab, and the compensation cess on automobiles was scrapped entirely.
Automobile exports from India grew by 22% year-on-year in the April–June quarter, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Railway Minister Ashwini Vaishnaw, on Tuesday, inaugurated the country’s largest automobile Gati Shakti Multi-Modal Cargo Terminal at Maruti Suzuki India Limited, Manesar, Haryana.
Ultraviolette Automotive Pvt Ltd on Tuesday expanded its ongoing Series D round led by Qualcomm Ventures and Lingotto. According to sources, the company raised $24 million in the expanded round, taking the total funding in Series D to $34 million to date.
Tata Motors has bagged an order for 1,000 buses from Haryana Roadways. As per the contract, the auto major will supply the 52-seater fully built BS6 diesel buses in a phased manner.
Tata Motors has announced that its revenue went up 29.7 per cent to Rs 79,600 crore in revenue for the quarter ended September 2022 over the previous year's figures. The company said its operating profits or earnings before interest, taxes, depreciation, and amortization was at 9.7 per cent, a jump of 130 basis points over last year's.
MT Autocraft, a leading supplier of machined components and assemblies, on Wednesday announced the launch of electric mobility company MTA E-Mobility Pvt Ltd (MTA EV) with a seed funding of Rs 100 crore.
Hyundai's sales climbed 7 percent to 60,604 units last month from 56,761 a year ago, while Kia's were up 12 percent to 58,276 from 52,067 during the same period, the data showed, reports Yonhap news agency.
