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Amid Covid-led disruptions, Maruti sees 71% sequential decline in May sales

Maruti Suzuki Ltd, country s largest carmaker, on Tuesday reported total sales of 46,555 units in May 2021 compared with 18,539 units sold in May 2020.
On a sequential basis, the car major s total sales declined 70.85% in May 2021 compared with 159,691 units sold in April 2021.
Total sales in the month include domestic sales of 33,771 units, sales to other OEMs 1,522 units and exports of 11,262 units.
In May 2021, the company had shut production from May 1-16 so as to divert oxygen from industrial use for medical purposes. In May 2020, the company witnessed production disruption owing to lockdowns. Since neither of the two months had normal production, the sales volume of May 2021 are not comparable with May 2020, said the automaker. ....

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Maruti Suzuki to idle plant as Q4 net falls nearly 10% to Rs1.166 cr

Firms/companies > M > Maruti Udyog
Maruti Suzuki to idle plant as Q4 net falls nearly 10% to Rs1.166 cr
28 April 2021
Maruti Suzuki Ltd, India’s largest carmaker, has reported a nearly 10 per cent year-on-year fall in its net profit, at Rs1,166 crore, for fiscal fourth quarter ended 31 March 2021, hit by a significant fall in sales volume, arising from the lockdown restrictions.
The declining sales and rising inventories have forced the Japanese carmaker to announce a temporary closure of its plants in Haryana between 1 and 9 May 2021 to make oxygen available for the healthcare and medical sector.
Maruti Suzuki uses a small amount of oxygen in its factories while relatively much larger quantities are used by the manufacturers of components. ....

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Auto dealers predict slow sales recovery as Covid spreads to rural areas

India s leading automobile dealers association on Monday said sales will take longer to recover than they did after the first wave of Covid-19 infections last year as the virus spreads to villages and smaller towns.
Auto sales, especially cars and sport-utility vehicles (SUVs), bounced back strongly last year as buyers rushed to buy private vehicles to ensure safety and maintain social distance.
With infections now spreading to rural areas, a recovery is expected to take longer, the Federation of Automobile Dealers Association (FADA) said. The association said it expects sales to return to their peak levels of March 2019 only by fiscal year 2023 - about two years from now. ....

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Sensex, Nifty end higher on IT, Reliance boost

Sensex, Nifty end higher on IT, Reliance boost
The blue-chip NSE Nifty 50 index closed 0.85% up at 14,644.70, while the benchmark S&P BSE Sensex added 0.8% to end at 49,792.12. The Nifty and Sensex ended the previous session more than 1% higher.
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UPDATED: January 20, 2021 16:46 IST
The Nifty IT index added 2.2%, the top boost to the Nifty index, with Infosys Ltd and Tata Consultancy Ltd rising 1.7% and 1.5%, respectively. (Photo: Reuters/Representational image)
Indian shares ended higher on Wednesday, led by gains in information technology and Reliance Industries, while U.S. Treasury Secretary nominee Janet Yellen s push for a big pandemic relief package also aided investor sentiment. ....

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As global commodity prices catch up, India Inc braces for cost inflation

Firms brace for cost inflation as commodity prices catch up
Odisha Slurry Pipeline Infrastructure is a crucial raw material supplier to Essar Steel’s plant in Odisha.Premium
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India Inc. needs to gear up for a gradual increase in raw material costs due to the recent rise in some global commodity prices. In the past three months, prices of crude oil and steel have risen sharply by around 30% and 15%, respectively. Analysts attribute this increase to the lag in supply-chain restoration and robust demand from China.
Hard hit by the pandemic, corporates opted for massive cost rationalization measures to shield their earnings performance. In the past two quarters, companies cut back on employee and advertisement costs, and other operating expenses. However, with businesses resuming normalcy, most of these savings will reverse. This, coupled with the ongoing increase in raw material costs, may push companies to initiate p ....

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