A steadying hand

The budget confirmed the fiscal deficit target of 3.9 per cent for the current financial year, and 3.5 per cent for 2016-17. The current account deficit (CAD) remained well-contained at 1.5 per cent of the GDP, and with oil prices at $30, few expect it to be under any imminent pressure. The GDP growth rate…

Mahindra slashes electric car e2o price by Rs 92,000

NEW DELHI: Homegrown auto major Mahindra & Mahindra has slashed the price of its electric small car ‘e2o’ by Rs 92,000 following the launch of a central government scheme offering incentives on electric and hybrid vehicles. The e2o, manufactured by the company’s arm, Mahindra Reva Electric Vehicles will see a reduction in price by 16…

Uber is now more valuable than at least 72% of the Fortune 500

  Sorry, Halliburton. Uber, the popular on-demand transportation company, is now worth $40 billion thanks to a new funding round totaling $1.2 billion. Setting aside the fact that private, venture-backed company valuations are merely speculative until they go public, let’s compare Uber to some of the most valuable companies in the world: those on the Fortune…

Mahindra profit rises 29% on tractor demand

Mahindra & Mahindra Ltd, India’s biggest utility vehicle manufacturer, expects strong demand for its tractors to offset falling sales of its sport utility vehicles as it posted a forecast-beating 29 percent rise in first-quarter profit. Mahindra’s tractor business has benefited from a higher-than-normal monsoon rain, which bodes well for Indian crops and raised the likelihood…