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Maruti's Kharkoda plant production begins March 2025
Maruti Suzuki collaborates with Union Bank for dealer financing
Maruti Suzuki India announced that it had entered into an initial agreement with Union Bank of India for dealer financing solutions. According to a statement from the automobile giant, this collaboration expands the range of inventory funding options for more than 4,000 Maruti Suzuki sales outlets nationwide.
Shashank Srivastava, Senior Executive Officer (Marketing & Sales) at Maruti Suzuki India, expressed the company's commitment to nurturing its dealer network. He stated, "We proactively align our efforts to meet the evolving demands of customers and the market."
Srivastav..
Attero to infuse $1 bn to build Li-ion battery recycling plants
Attero Recycling Private Limited plans to invest $1 billion over the next five years to develop lithium-ion battery recycling plants in Europe, the US and Indonesia amid the metal surge and global shift to electric cars.
CEO and Co-Founder of Attero Recycling, Nitin Gupta, told the media that there is a tremendous amount of lithium-ion battery waste available for us to recycle. He said that by 2030, 2.5 million tonnes (mt) of lithium-ion batteries would reach the end of their life, and currently, there is a capacity for only 0.7 mt of battery waste to be recycled. He..
Automobile company’s shares surge after govt cut excise duty on fuel
Shares of automobile manufacturers got a boost after the government slashed excise duty on fuel and imposed an export duty on steel inputs.
Two-wheelers, in particular, are high on investors' radar as they could profit the most from the government actions. Hero MotoCorp, Ashok Leyland, and Bajaj Auto are the top choices of analysts' after the government's move. The Bombay stock exchange (BSE) Auto index acquired the most among sectors on Monday, ending up 1.9% at 25,355.47. The Auto index gains were led by Ashok Leyland, Maruti Suzuki India, and Mahindra &..
L&T subsidiary opens new manufacturing unit in Saudi Arabia
L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.
The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..
LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn
LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.
Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..
