Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings
The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report
Auto component maker Motherson Sumi re-opens most plants globally; obtains necessary approvals from local authorities
Motherson Sumi said all necessary precautions are being taken by the teams in adherence with post-COVID 19 guidelines issued by various governments.
Auto sector crisis: Rajiv Bajaj against GST cut for industry even as automakers look for respite from govt to tide over slowdown
Bajaj Auto's Rajiv Bajaj has come out with a view that the cause of the current csisis is mainly due to overproduction by the vehicle makers and GST cut not necessary at this stage to boost demand.
Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector
Automotive component industry body ACMA on Thursday asked the government to ensure a uniform GST rate of 18 percent on all auto components as part of measures to support the sector that is going through a downturn
Bosch profit rises 19% to Rs 335 cr in third quarter; Bhaskar Bhat’s appointment as independent director gets nod
Bosch said the board of directors of the company approved appointment of Bhaskar Bhat as an independent director for a second term of five years with effect from 1 April, 2019.
The company's board has approved the buy back of 8,78,160 shares of the face value of Rs 10 each at a price of Rs 23,000 per share aggregating to Rs 2,019.76 crore
In the last fiscal, the auto component industry's turnover grew by 8.8 percent to Rs 2.55 lakh crore as against Rs 2.34 lakh crore in 2014-15
Company plans to sell most of its non-core assets and intends to repay Rs 7,000 crore debt in next 15 months time