Mining tycoon Anil Agarwal has said the current financial year that started on April 1 will be a transformative year for his conglomerate Vedanta as it prioritises disciplined growth while parent eyes a USD 3 billion deleveraging in the next three years. In a communication to shareholders, Vedanta Ltd Chairman Agarwal said the group will […]
Day: April 18, 2024
Honda to launch next-generation EVs in China by 2027
Japan’s Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile […]
Wardwizard electric two-wheeler sales up 1.5% in March
Wardwizard Innovations & Mobility on Wednesday said it sold 3,801 units of electric two-wheelers in March, registering a growth of 1.5 per cent as compared with the same month last year. The Vadodara-based firm had dispatched 3,744 electric two wheelers to dealers in March 2023. In the fiscal ended March 31, 2024, the company reported […]
Daimler India to foray into battery electric segment with new gen eCanter
NEW DELHI: Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. “The launch […]
Tesla chief Elon Musk likely to unveil $2-$3 billion India investment during visit, sources say
Tesla chief Elon Musk is set to announce an investment in India of $2-$3 billion, mainly for building a new factory, when he visits New Delhi next week to meet Prime Minister Narendra Modi, two sources familiar with the discussions said. Musk will meet Modi on Monday during his India trip, when the billionaire is […]
Ramkrishna Forgings to supply power train components to US’ largest EV producer
Ramkrishna Forgings has signed an agreement to supply power train components to USA’s largest electric passenger vehicle producer, the company said in a stock exchange filing on Thursday. This deal signals the company’s debut in US’ electric vehicle market. This landmark approval signifies the company’s position into the electric passenger vehicle segment with a strong […]
India’s crude oil import bill drops 16% but import dependency hits new high
India’s crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. India imported 232.5 million tonnes of crude oil, which is refined into fuels like petrol and diesel, in the 2023-24 fiscal (April […]
What the fresh march higher in oil means for world markets
LONDON, – Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia. Investors are paying attention. After all, it was an energy price surge two years ago that helped drive inflation and […]
India’s power consumption rises nearly 10 pc to 70.66 bn units in first half of April
NEW DELHI: India’s power consumption grew nearly 10 per cent year-on-year to 70.66 billion units (BU) in the first half of April this year, showing improvement in economic activities and consumption patterns, according to the power ministry data. According to the data, power consumption in the country rose to 70.66 BU during April 1-15 this […]
Power consumption rises nearly 10% to 70.66 bn units in first half of April
India’s power consumption grew nearly 10 per cent year-on-year to 70.66 billion units (BU) in the first half of April this year, showing improvement in economic activities and consumption patterns, according to the power ministry data. According to the data, power consumption in the country rose to 70.66 BU during April 1-15 this year from […]
No flight services at Thiruvananthapuram airport for 5 hours on April 21
Flight services at Thiruvananthapuram International Airport will be suspended for five hours on April 21 due to the ‘Painkuni Arattu’ procession at Sree Padmanabhaswamy Temple. The procession is scheduled to cross the airport’s runway from 4 pm to 9 pm on Sunday, announced TIAL on Wednesday. Taking to social media platform X (formerly twitter), TIAL […]
West Asia tensions stall India’s plans to import crude oil from Iran
The latest flashpoint in West Asia has derailed India’s preliminary plans to resume crude oil imports from Iran, officials said. In January, officials of the Ministry of Petroleum and Natural Gas had told Business Standard that the government had been studying proposals for the same, given that India was trying to expand sources of imports. […]