Despite posting weak numbers in the first half of FY2017-18 largely due to GST uncertainties and de-stocking by dealers, traction in the domestic tyre industry is expected to recover in latter half of FY2018-19. Credit rating agency ICRA expects the tyre industry to post volume growth of up to eight per cent, posting unit volumes of nearly 1,805 lakh tyres[Read More…]
JK Tyre and Industries has announced the appointment of Rajiv Prasad as the president of the India operations. Prasad brings with him three decades of experience in managing diverse teams across geographies. His appointment comes at a time when the tyre industry has been going through a lull. For the last ten quarters, the tyre industry has been facing a[Read More…]
The e-way bill has attracted close to 25,000 registrations claim industry sources. They draw attention to the e-way bill portal receiving over 21,000 new registrations on the first day of the system opening registrations. The registrations are reflective of the enthusiastic response the taxpayers and transporters have shown towards the system. Expected to rise much beyond the 25,000 mark till[Read More…]
Despite China making it harder for money to be moved outside, Zhejiang Geely Holding Group (popularly termed as Geely) has acquired an 8.2 per cent stake in AB Volvo claim industry sources. The 8.2 per cent stake is said to be bought from the activist investment firm Cevian Capital at a value of USD 3.2 billion approximately. After buying Volvo[Read More…]
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