Companies & Sectors
Passenger car sales up 21.80 percent in October: SIAM
Low interest and fuel costs supported by a pent up demand and new launches during the festive season gave a boost to the domestic passenger car sales last month.
 
The domestic passenger car sales grew by 21.80 percent, industry data showed on Tuesday.
 
According to data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sales during October stood at 194,158 units against 159,408 units in the like month of the previous year. 
 
The data revealed that the total passenger vehicle sales, which includes cars, utility vehicles and vans, went up by 21.46 percent to 268,629 units from 221,163 units sold in October, 2014.
 
Furthermore, sales of utility vehicles rose by 20.82 percent to 58,120 units. The off-take of vans, increased by 19.79 percent to 16,351 units. 
 
The industry data for last month showed a 12.73 percent growth in the overall commercial vehicles segment sales, which is a key indicator of economic activity. 
 
The commercial vehicles segment off-take for October stood at 58,596 units from 51,978 units sold during the corresponding month of 2014.
 
On the other hand, sales of three-wheelers inched-up by 0.10 percent in the month under review at 52,361 units from 52,307 units sold in October of 2014.
 
Sales of the overall two-wheelers segment which includes off-take for scooters, motorcycles and mopeds augmented by 13.31 percent to 1,656,235 units from 1,461,712 units sold in the like month of 2014.
 
On-product specific basis, scooter segments' sales in October rocketed by 36.80 percent at 525,138 units. Motorcycle segment reported a modest rise of 5.66 percent at 1,065,856 units.
 
However, moped segments' sales slipped by 5.54 percent at 65,241 units during the period under review.
 
Similarly, overall exports across categories for the month under review was lower by 5.56 percent at 289,309 units sold abroad from 306,357 units shipped out during October, 2014.
 
Notwithstanding sales abroad, total automobile sales in October were higher by 13.91 percent at 2,035,821 units from 1,787,160 units sold in the corresponding month of 2014.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Don't know why home secretary was removed: Rajnath
Home Minister Rajnath Singh on Tuesday said he didn't know why then home secretary L.C. Goyal was removed.
 
Talking to the reporters on Tuesday, Singh said: "I don't know why he (Goyal) was removed."
 
Goyal, a 1979 batch IAS officer, had sought voluntary retirement on August 31. It was approved by Prime Minister Narendra Modi.
 
Rajiv Mehrishi, who was serving as secretary to the department of economic affairs under the finance ministry, replaced Goyal as the home secretary.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Stock manipulation: Viaan Industries
Viaan Industries partly-owned by Shilpa Shetty shot up by 2,156% in just over a year. Just 1-2 shares of were traded per day
 
Hindusthan Safety Glass Industries was a Kolkata-based, defunct, listed glass company. Last year, Bollywood actress Shilpa Shetty Kundra and her husband Ripu Sudan Kundra (better-known as Raj Kundra) acquired 51.51% stake from the promoters, and a set of investors, for Rs1.89 crore, at Rs12 per share. They have now renamed the company, after their son, to Viaan Industries. As per the latest annual report for FY14-15, Viaan Industries has started trading in consumer durables and electronic items. The details of operations are not known. On the company’s website, it is mentioned that it will soon launch consumer brands like Viaan Mobiles, V Tab, V Power, V TV, and so on. In October 2015, the company announced setting up of a 100% subsidiary in Dubai, which trades in electronics items & accessories in the Middle East countries. While the company has ambitious plans, it is strange that with just about 500-odd shareholders, the stock price of Viaan Industries shot up by 2,156%, or 22.56 times, to Rs239 on 29 October 2015 from Rs10.60 on 8 September 2014. On an average, just one or two shares of this highly illiquid company were traded per day. Each time the stock was traded, it got locked in the upper limit of 5%. Who are these investors? Whether or not the market regulator will investigate and find out, one thing is sure: on paper, the Kundra couple’s investment of Rs1.89 crore is now worth Rs37.66 crore, in just one year. 

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COMMENTS

Peejay Lal

1 year ago

Obviuosly it's a money laundering operation.

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