Posts

July auto retail sales hit record high

New Delhi: Vehicle registrations or retail sales by dealers rose 26% to 2.59 million units year-on-year in July, marking the best-ever performance for the month for two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and tractors.The strong growth, however, came on a low base as automobile sales were sluggish last year in the run-up to the overhaul in goods and services tax (GST) rates with effect from September 22, 2025. Automakers dropped prices to pass on the lower GST rates, triggering a sales surge.Also Read: Alternative fuels now within striking distance of petrol in passenger vehicle market, says FADATwo-wheeler sales grew 28% year-on-year last month, per data collated by the Federation of Automobile Dealers Associations (Fada) from the road ministry's Vahan portal. Sales of three-wheelers, passenger vehicles, and commercial vehicles climbed 16%, 19% and 24%, respectively in July. "For the first time on record, every single category posted its best-eve...
Post a Comment
Read more

Honeywell Aerospace shares plunge 26% as supply woes trigger forecast cuts

Honeywell Aerospace shares plunged as much as 26% on Thursday after supply-chain problems prompted the company to cut its annual sales target and issue a weaker-than-expected profit forecast, Reuters reported.The stock was last down about 20% and headed for its worst session since its recent listing, if the losses held.The aerospace supplier, which began trading on the Nasdaq about a month ago following its spinoff from Honeywell, said supply constraints forced it to prioritise deliveries to Boeing and Airbus over its higher-margin aftermarket business.Honeywell Aerospace lowered its 2026 organic sales-growth outlook to 4%-5% from 7%-9% previously.The company expects adjusted earnings of $7.60-$7.90 per share for the year, significantly below analysts’ average estimate of $8.86, according to LSEG.JP Morgan reduced its price target from $255 to a Street-low $235, saying the stock’s “discount to peers is likely to widen following these results”. The brokerage added that repeated disappoi...
Post a Comment
Read more

SpaceX draws retail investors despite fall in shares post earnings

Retail investors flocked to SpaceX shares on Wednesday, buying the dip as the stock fell about 12% following the company’s first earnings report since going public, according to a Reuters report.Individual traders purchased a net $22.7 million worth of SpaceX shares in the first hour of trading, the third-highest opening-hour total in the 37 sessions since its market debut, the report said citing Vanda Research.“This tells us that retail dip-buying has not stepped back after the earnings sell-off — they’ve become even more opportunistic,” Vanda Research said in a note.The financial data firm said Wednesday was on track to become SpaceX’s second-strongest day of retail net buying since its debut if the pace continued. The record was set on June 16, when net purchases reached $144.6 million.SpaceX has not recorded a single day of net retail selling since its June 12 IPO, the largest in US history, which priced the stock at $135 per share. The shares fell as much as 12.9% and slipped belo...
Post a Comment
Read more

World Bank asks developing nations to seize AI

from Economic Times https://ift.tt/C4i98nD
Post a Comment
Read more

Backrooms to Bankipur: Making of Prashant Kishor

from Economic Times https://ift.tt/VCR8UeK
Post a Comment
Read more

Trump calls Iran leaders 'duplicitous' over talks

from Economic Times https://ift.tt/WFfBXZr
Post a Comment
Read more

HDFC, ICICI Bank rates up for $ deposits

Mumbai: Hardening overseas rates, tough competition and strong client demand is forcing banks to tweak their FCNR (B) offerings to attract maximum dollars as banks get into the busy season of the special scheme.ICICI Bank and HDFC Bank, two of the largest private sector banks have both hiked a section of their FCNR (B) rates noting the changed scenario. With overseas rates also higher more banks could join in hiking rates in this scheme, people familiar with banks' plans said.While ICICI has hiked the rate on its FCNR (B) deposits for $5 million or above to 6.25% from 6%, HDFC has raised rate uniformly on its three- to five-year (FCNR) (B) dollar deposits by 25 basis points basis points to 6.25% from 6%. A senior bank executive said that the higher rates are a function of the market and competition. "The tweaks are required to keep rates competitive which is what large banks have done. Also the fact is overseas rates have gone up and borrowing is more expensive so banks have t...
Post a Comment
Read more