MUMBAI, Feb 9 (Reuters) – French carmaker Renault <RENA.PA>
is talking to its Indian partner, Mahindra & Mahindra <MAHM.BO>,
about restructuring their joint venture that makes the Logan
sedan, and said a decision will be made in 30 to 45 days.
Renault also announced plans to set up its own dealer
network in India, starting with 15 dealerships by mid-2011 and
increase to 150 in the next 30 months, country head Marc Nassif
MUMBAI, Jan 29 (Reuters) – Top Indian vehicle maker Tata
Motors’ <TAMO.BO> quarterly net profit from domestic operations
lagged estimates despite a surge in sales, signalling rising
raw material costs are beginning to take a toll on margins.
Climbing commodity prices over the past few months on the
back of a world economic recovery have worried automobile
companies that are emerging from a sharp slowdown.
MUMBAI, Jan 25 (Reuters) – Hero Honda Motors Ltd <HROH.BO>,
India’s largest motorcycle maker, said on Monday rising raw
material costs were worrying after it reported forecast-beating
The company also said it was looking at the possibility of
setting up a new plant and expanding existing capacity.
MUMBAI, Jan 21 (Reuters) – Mid-sized Indian private-sector
lender Yes Bank <YESB.BO> has raised $225 million through a
placement of shares with institutions, as it seeks to boost
loan growth by 50 percent over the next two years.
Managing Director Rana Kapoor told television channel CNBC
TV18 on Thursday the size of the offering was raised from an
initially planned $150 million due to strong demand from global
MUMBAI, Jan 18 (Reuters) – Shares in India’s Tata
Consultancy Services <TCS.BO> rose as much as 3.1 percent to a
record high on Monday, as brokerages upgraded the stock after
the top software services exporter posted forecast-beating
India’s export-driven software services companies have seen
a slew of brokerage upgrades in recent months as the sector
showed signs of resurgence after the global economic slowdown
had shut the tap on technology spending and put pressure on
NEW DELHI, Jan 7 (Reuters) – India’s top motorcycle maker,
Hero Honda Motors <HROH.BO>, is on course to exceed its 2009/10
sales target of 4 million units and aims to maintain the pace
of new launches to woo customers, its managing director said.
“Our growth has been due to our new launches during the
downturn and huge focus on the rural markets, where we believe
a lot of money has been pumped in through initiatives taken by
the government,” Pawan Munjal said in an interview on Thursday.
NEW DELHI, Jan 7 (Reuters) – As global automakers boost
their presence in the thriving Indian market, they will turn
the country into a stage for novel experiments in lowering
production costs to levels not seen before.
Indian customers’ unmatched sensitivity to pricing has
meant the market has been dominated for nearly 30 years by
Maruti Suzuki India Ltd <MRTI.BO>. The unit of Japan’s Suzuki
Motor Corp <7269.T> has been able to build $5,000 cars such as
the Maruti800 hatchback by using old, fully depreciated
equipment provided by its parent in the 1980s.
NEW DELHI, Jan 5 (Reuters) – French carmaker Renault
<RENA.PA> will resume investment in India, a top official said
on Tuesday, joining other automakers racing to grab a share in
one of the few regions globally still showing double-digit
“If Renault has to grow, it has to be in emerging markets
and India is one of them,” Katsumi Nakamura, executive vice
president and leader of Renault’s Africa-Asia management
committee, told Reuters at the New Delhi auto show.
MUMBAI/TOKYO, Dec 28 (Reuters) – Keen to boost sales,
global automakers will unveil a slew of cheap, compact cars at
India’s Auto Expo next week as they turn to one of the few
remaining growth markets to keep their engines humming.
Car sales in India, the world’s second-most populous
country, are set to jump about 16 percent this year to 1.4
million vehicles, buoyed by robust economic growth and
government incentives, in contrast to a slump in many developed
BEIJING/MUMBAI (Reuters) – India’s Reliance Communications <RLCM.BO> is looking to sell its undersea fiber optic network and U.S. network businesses, hoping to raise around $3 billion in cash, three sources with direct knowledge of the matter said.
Reliance acquired the FLAG network, which lies at the heart of its global operations, in 2003 for $207 million, and now sells both capacity on the network as well as more lucrative telecoms services to other carriers and companies around the world.