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…

Second year of falling car sales on tap for India

Car sales in India have fallen 4.7 percent in the first six months of the fiscal year, the sharpest decline in half-year sales since 2002-2003, according to figures released by the Society of Indian Automobile Manufacturers (SIAM). Despite a slight 0.7 percent uptick in sales in September when automakers sold 156,018 cars, the industry is…

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…