The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra. Photograph: Amit Sharma/ANI Photo The Indian car market saw an increased consolidation in FY24, with the top six brands accounting for 92.6 per cent of domestic sales, while the bottom six could manage to garner a mere 2.9 per cent of the $4.2 million market. The increase in market share was led by Mahindra & Mahindra, Toyota and Maruti Suzuki. Based on data from the Society of ...

Rajesh Karkera/Rediff.com takes the latest offering from the Mahindra stable for a spin.  Photographs and video: Hitesh Harisinghani/Rediff.com One more XUV (Crossover Utility Vehicle) from the M&M stables is here, and boy, is it different! The XUV 3XO, supposedly the revamped version of the much-loved XUV 300 which was launched 5 years back, is a completely new car from the look and feel of it. The vehicle has undergone a complete redesign from the inside out, and only from the ...

The country's largest lender SBI on Thursday reported 18.18 per cent growth in March quarter consolidated net profit to Rs 21,384.15 crore as against Rs 18,093.84 crore in the year-ago period. Photograph: Rupak De Chowdhury/Reuters On a standalone basis, profit grew to Rs 20,698.35 crore from Rs 16,694.51 crore a year ago, the lender said in a regulatory filing.   Consolidated net profit in fiscal year 2023-24 was up 20.55 per cent to Rs 67,084.67 crore as against Rs 55,648.17 crore in ...

Equity investments by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) in the Indian market have shown a mixed trend over the past six months. Illustration: Uttam Ghosh/Rediff.com While foreign investors withdrew money in two months during this period, including April, domestic institutions remained consistent and were net buyers. Cumulative flows by FPIs during this period amount to Rs 75,000 crore, while those of DIIs are 2.4 times higher, totalling just under ...

Exports of 19 major commodities, including petroleum products, coal and marine items, saw growth in terms of volume during April 2023-February 2024, even as they witnessed contraction in value terms during the same period. Photograph: ANI Photo Government officials said the rise in export volume despite a decline in value implies that these commodities show a stronger market demand. The export value of these products stood at $102.7 billion compared to the total export value of $395.42 ...

BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival — the National Stock Exchange (NSE) — which, less than a year ago, had a monopoly in this space. Photograph: Danish Siddiqui/Reuters In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for ...

The stock of Apollo Hospitals Enterprise (AHEL), India’s largest listed health care services company, fell 4.6 per cent on Monday (April 29) and slipped another 0.34 per cent to close at Rs 5,946.20 on Tuesday (April 30). Photograph: Courtesy, Apollo Hospital The share declined due to a lower valuation for subsidiary Apollo HealthCo (AHL) and an  aggressive valuation for Keimed, a promoter-owned drug wholesaler that is merging with AHL. AHEL, in a two-step process, is selling a ...

In a bid to democratise education, cash-strapped edtech firm Byju’s has significantly reduced the prices of its products. Photograph: Dado Ruvic/Reuters The annual subscription fee for the Byju’s Learning App now stands at Rs 12,000 (inclusive of taxes) per year, while Byju’s Classes and Byju’s Tuition Centres (BTC) are priced at Rs 24,000 and Rs 36,000 respectively for a full year of classes, according to the sources.   They said the prices of each of these ...

If shares are transferred as a gift, there may not be capital gains tax on them, provided a recent Bombay high court ruling sets a precedent. Illustration: Dominic Xavier/Rediff.com In a case related to Mumbai-based Jai Trust versus Union government, the court ruled that a gift is a consideration-less transaction, and hence, not liable for capital gains tax.   It quashes the reassessment notice issued by the tax authorities alleging that a specific income has escaped assessment on ...

The number of dematerialised (demat) accounts required to hold shares and other securities in electronic format rose by 3.1 million in April, bringing the total tally to a fresh record of 154.5 million. Illustration: Dominic Xavier/Rediff.com Since December last year, the new additions have consistently remained above the 3 trillion mark, a sign that the stock markets continue to attract new investors despite a spike in volatility. The March 2024 quarter was the best quarter for depository ...