From IBM dropping its facial recognition software, Irdai withdrawing its long-term covers on motor to FM telling banks to improve interest rate transmission, here are the top headlines on Wednesday
Bhargava said Maruti was only an assembler of cars and depended on each of the 370-380 vendors and tier 2 and tier 3 suppliers to provide components
Maruti had first resumed production at its Manesar plant in Haryana on May 12 after closing down production for about 40 days
The company had produced a total of 1,51,188 units in the same month last year
The more the borrower defers principal repayment, higher is his interest cost
Production to reach last fiscal's level in second half: Bhargava
Domestic sales declined by 88.93 per cent to 13,888 units last month, as against 1,25,552 units in May 2019
Suzuki, the country's No. 4 automaker, declined to give an earnings forecast for the current business year, citing uncertainties about the longer term impact of the coronavirus on its operations.
Given the huge hit from lockdown, it is not surprising that 44 of the 80 companies have seen sharp cuts ranging 10% to 72%
3 workers test positive in Hyundai, 1 in Maruti
Falling rates to help; rise in group exposure limits will support large companies
The company is also looking at "a possibility of a second case" of infection at the facility but has ruled out any impact on the business part due to the situation.
This will result in incremental sales for the company, Maruti Suzuki India said in a regulatory filing.
Hyundai begins preparations; a few others restart operations
The auto major said it has put in place a comprehensive standard operating procedure (SoP) across its sales outlets and reinforced digital infrastructure for vehicle purchase amid COVID-19 pandemic
The Maruti's Manesar plant has an inventory of over 20,000 ready vehicles. APL plans to load 650 cars on freight trains from Bawal in Haryana on Tuesday.
It is aimed to provide customers with easy financing options, MSI said in a statement
With the SOPs in place, over 1,350 Maruti Suzuki showrooms, and over 300 True Value outlets are operational now
With this, Maruti Suzuki will restart operations of its second plant in the fourth phase of the nationwide lockdown
The company expects greater offtake from first-time buyers seeking functionality than from existing car owners wanting to upgrade