BUSINESS
Despite lower sales volume, vehicle makers to post higher profit, revenue
According to the report, the vehicle makers are expected to post de-growth of revenue and net profit on a sequential basis due to the reduction in wholesales sales in December 2022 post-festive season due to the normalization of channel inventories. On the demand scenario, Axis Securities said the commercial vehicles growth would continue with the government infrastructure push and replacement demand.
'Make in India' TV shipments grow 33% to reach 5 mn units
In the electronic wearables category, the true wireless stereo (TWS) segment led in terms of local manufacturing with almost 37 per cent of its shipments being manufactured in the country, according to Counterpoint Research. Bharat FIH led the 'Make in India' TWS shipments, followed by Padget, while Optiemus led the locally manufactured smartwatch shipments.
BMW recalls over 14K electric cars over crash risk
The recall covers certain iX SUVs and i4 and i7 sedans produced between October 14, 2021, and October 28, 2022. The software issue relates to the high voltage battery electronic control unit, according to BMW."The high voltage battery electronic control unit (ECU) software may cause an interruption of electrical power,"
Shilpa Shetty to make a killing in Mamaearth IPO
Sources said keeping aside the unrealistic high revenue multiple valuation of the Mamaearth IPO, angel investors are going to multiply their investment with this IPO. The reported valuation for the Mamaearth IPO is at Rs 24,000 crore which is almost 25x FY22 revenues and 1600x FY22 profits (PE).
Go First flight leaves passengers behind, DGCA promises action
Many air passengers alleged that Flight G8 116 from Bengaluru to Delhi took off around 6.30 a.m. leaving nearly 50 passengers while they were still inside the bus at the tarmac. Aviation regulator DGCA said: "We have sought a report from the airline and appropriate action shall be taken afterwards."
India modernising Sri Lanka's railway line to enhance mobility
Indian public sector company, IRCON, launched a track rehabilitation and upgrading project, including ancillary works, between North Western Province's Maho and Northern Province's Omanthai, under an existing Indian Line of Credit (LOC) of $318 million at a cost of $91.27 million.
MG Motor unveils new SUV with Autonomous Level 2 tech in India
"This Next-Gen Hector enhances the stance of the MG Hector through looks, interiors, and technology. It comes with the assurance of our MG Shield programme, which offers a hassle-free and smooth ownership experience for our customers who can experience the Next-Gen Hector for themselves at our 300 centres across India," Rajeev Chaba, President and Managing Director, MG Motor India, said in a statement.
LinkedIn becomes go-to platform for those sacked in worst layoff season
Some LinkedIn groups are providing assistance around signing exit paperwork and aiding with connections for new jobs. "One LinkedIn group of employees affected by the November layoffs at Facebook-parent Meta, for example, now has more than 200 members," reports CNN.
Asia-Pacific airlines saw air cargo volumes dip 18.6% in Nov 2022: IATA
As per the International Air Transport Association (IATA), this was the worst performance of all regions and a decline in performance compared to October (minus 14.7 per cent). Airlines in the region continue to be impacted by lower levels of trade and manufacturing activity and disruptions in supply chains due to China's rising Covid cases.
Toyota Kirloskar restarts booking for Hilux utility vehicle
The bookings for the model that was launched early 2022 was stopped temporarily due to various factors impacting supply. According to the company, globally, the Hilux sales have surpassed 20 million units.The details of the ex-showroom price of the model ranges between Rs 33.99 lakh and Rs 36.80 lakh
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