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Hero MotoCorp appoints Sachin Agrawal as CTO
Hero MotoCorp has appointed Sachin Agrawal as its new Chief Technology Officer, effective from May 21. Agrawal will lead the company's research and development transformation. He brings over 29 years of experience in automotive R&D and technology leadership. Agrawal previously worked at VE Commercial Vehicles and began his career at Daewoo Motors.
Bright start to FY27 for carmakers with estimated sales of 4.5 lakh units in April
Indian carmakers began the new fiscal year with robust passenger vehicle sales in April. Maruti Suzuki, Hyundai, and Kia reported record performances. The industry benefited from GST 2.0, repo rate cuts, and income tax relief. Overall domestic sales saw a significant increase, indicating a positive start to the financial year for the automotive sector.
The IPO afterlife for unicorns: How mutual funds are doubling down on next-gen leaders
Indian mutual funds have boosted their investments in five new-age companies. Funds poured into stocks like Urban Company, Ather Energy, Lenskart, Meesho, and PhysicsWallah. This shows growing confidence from domestic investors in these tech-focused businesses. Brokerages are also initiating coverage with positive outlooks. This trend indicates a significant shift in institutional capital towards India's new-age economy.
Renault targets India among its top three markets by 2030, CEO says
French automaker Renault is aiming for India to be among its top three global markets by 2030. The company plans to introduce seven new vehicles, including electric models. By the end of the decade, Renault expects electrified vehicles to represent approximately half of its sales in India. This strategic move underscores Renault's commitment to the growing Indian automotive sector.
Nifty extends recovery for third day led by M&M, RIL; Rupee falls to new low
Markets ended higher for a third straight session led by IT and broader market strength, though off highs, while the rupee weakened sharply to hit a record closing low.
MRF Vice Chairman & MD Arun Mammen re-elected as ATMA Chairman
Arun Mammen of MRF Ltd has been re-elected as Chairman of the Automotive Tyre Manufacturers Association. Rajarshi Moitra from Bridgestone India is the new Vice Chairman. Sanjay Chatterjee will take over as Director General of ATMA. These leadership changes were announced by the industry body representing India's automotive tyre sector.
MRF inks MoU with Tamil Nadu government to invest ₹5,300 crore to set up a new greenfield manufacturing unit
The proposed plant, is to be located at SIPCOT Industrial Park in Sivaganga district, will manufacture automotive tyres and allied products, MRF said.
Taking Stock: Bulls back in action; Nifty closes above 24,100, Sensex gains 291 pts
More than 200 stocks touched their 52-week high on the BSE, including Kirloskar Oil, Aegis Logistics, New India Assurance, GNFC, HFCL, Aditya Birla Sun Life AMC, Belrise Industries, AIA Engineering, Aditya Birla Capital, Sona BLW, Syrma SGS, Leela Palaces, Cemindia Projects, RBL Bank, Bharat Forge, among others.
Kotak Mahindra Bank stock falls 2.6%, top Nifty loser; analysts hail Q4 results margin gains, but flag RoE lag
Kotak Mahindra Bank’s asset quality improved during the quarter, with gross non-performing assets easing sequentially, while provisions declined sharply, supporting earnings.