AUTOMOBILE ELECTRONICS
Meet the Acharya brothers; they helped enable DVDs, now they are turning cars into computers
Indian-American brothers, Shrinath and Shrikant Acharya, revolutionized DVD playback on laptops with their company, Margi Systems. Their solution, licensed globally, decrypted DVDs, enabling movie enjoyment on the go. Later acquired by Harman, they spearheaded in-vehicle connectivity, a precursor to today's software-defined vehicles. Now, their technology connects numerous vehicle components to the cloud, simplifying complex systems for major automotive manufacturers worldwide.
Sudip Bandyopadhyay on strategic picks for long-term investors
?My view is that Q3, which has been a festive season, should show pickup in demand and Q4 also should be good. So, the bit of a slowdown which did a lot of damage for the Q2 numbers, we probably will cross that hump and corporate results will start coming back. The numbers will start looking decent. Rural income has already picked up. Rural spending has picked up.
Rising exports keep companies upbeat amid local lull
Indian automobile and consumer goods companies witnessed growth in exports. Overseas sales increased for companies like Maruti Suzuki, Bajaj Auto and ITC. The Society of Indian Automobile Manufacturers reported a 12% rise in passenger vehicle exports. Industry leaders are optimistic about the future of exports. Some companies are expanding manufacturing capacity to meet growing global demand.
Consider equity mutual funds with good risk-to-reward profiles; these 12 MFs have beaten benchmarks
Low risk-to-reward ratio could prove useful as geopolitical issues are making the markets nervous.
Tamil Nadu goes to town on manufacturing. Target: hinterland
Across Tamil Nadu there is a veritable tsunami of investment that is being driven into the state¡¯s hinterlands. The southern state, long hailed as India¡¯s Detroit because of its sprawling auto factories, has directed investments out of well-developed hubs like the Chennai-Sriperumbudur-Hosur belt into lesser-known districts.
Gold, cars, and smart electronics drive strong Dhanteras sales amid festive cheer
Dhanteras sparked a significant rise in consumer sales across India, leading to higher demand for gold, automobiles, and premium electronics. Major brands like Tanishq, Maruti Suzuki, and Panasonic reported substantial growth, fueled by festive offers and strong consumer confidence, suggesting an economic rebound.
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'From Creta dreams to second-hand Santro reality': Hyundai IPO stumbles on debut, investors turn to memes to cope with losses
Hyundai Motor's much-anticipated IPO debuted on October 22, 2024, at ?1,934 on the National Stock Exchange (NSE), a 1.3% discount on its issue price of ?1,960. On the Bombay Stock Exchange (BSE), the stock opened at ?1,931, reflecting a 1.5% drop. The disappointing debut sparked humorous reactions on social media, while Hyundai, despite its lukewarm start, remains a key player in India's automobile market with a market capitalization of over ?1.59 lakh crore.
China¡¯s Haier seeks Indian partner to navigate bureaucratic challenges, offers up to 49% stake
Haier is seeking an Indian partner to sidestep regulatory hurdles, possibly diluting up to 49%. With Citi's guidance, the third-largest appliance firm in India aims for joint control and local management, setting the stage for a future local listing.
Q2 will broadly remain a muted earnings season: Smallcase Manager Narender Singh
Investing should be considered only when there are clear signs of reversal, which are currently absent in most defence stocks. Only a few exceptions show some stability, so it¡¯s better to wait for stronger indications of a recovery.
South Korea¡¯s export growth stays strong on chip demand
Exports adjusted for working-day differences gained 12.9% from a year earlier, just a tad shy of the previous month¡¯s double-digit gain, data from the customs office showed Tuesday.
Samsung defends its wage policy even as strike at Tamil Nadu plant enters third week
Samsung Electronics workers in Tamil Nadu are on strike demanding higher wages and union recognition. The company states its workers earn nearly twice as much as those in nearby firms. The strike, involving over 1,000 workers, has disrupted operations at the Chennai plant, which significantly contributes to Samsung's revenue in India.
Discounts fire up demand as festive season kicks off
Hefty discounts and promotional offers have spurred car and consumer electronic sales during Ganesh Chaturthi and Onam festivals, marking the start of the festive season. Maruti Suzuki and other brands reported increased bookings and sales, particularly in premium segments. Industry executives expect overall growth despite a high base from last year.
Discounts, offers drive car, electronics sales in Onam, Ganesh Chaturthi
Hefty discounts and promotional offers have spurred an increase in car and consumer electronic sales during the Ganesh Chaturthi and Onam festivals. Maruti Suzuki reported a 10% rise in bookings in Kerala, while two-wheeler sales grew by over 15%. However, premium products continue to drive most of the demand across various consumer goods.
Samsung India workers ramp up wage protests as strike enters third day
Workers at Samsung Electronics' plant in southern India have boycotted work for a third day, demanding better wages and working conditions. The protest has disrupted output at the facility, which is crucial for Samsung's revenue in India. Senior executives, including the CEO of Samsung Southwest Asia, are attempting to resolve the issue. The workers are also seeking union recognition.
Online-versus-offline battle brews as festive season begins
India's retail industry faces a growing divide between online and offline sales, with e-commerce platforms offering heavy discounts during the festive season. Commerce Minister Piyush Goyal has raised concerns about predatory pricing affecting small retailers. Offline retailers are seeking transparency and a level playing field from manufacturers.
Union Cabinet approves OSAT proposal of Kaynes Semicon to set up in Sanand
The proposed unit in Sanand, Gujarat, will be set up with an investment of Rs 3,307 crore. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc.
Cabinet gives go ahead for Rs 3,300 crore semiconductor unit in Gujarat; India's fifth
The Indian government has approved four semiconductor plants under the India Semiconductor Mission, indicating significant progress in the sector. With the first chips expected next year, the initiative aims to boost various industries. The government is also focusing on talent development and partnerships with international entities, preparing India to become a global semiconductor hub.
Festive Season Outlook: India braces for potential discounts as consumer demand remains tepid
As India enters the festive season with Onam, companies are uncertain whether this will revive consumption, with demand remaining subdued among low-to-mid income consumers. Higher discounts and promotional offers are expected, especially as industries like automobiles and electronics aim to clear unsold inventory and boost sales during this crucial period.
L&T Semiconductor to sign first clients by September, CEO Sandeep Kumar says
India's L&T Semiconductor Technologies plans to sign contracts with six automobile companies by the end of September, making them its first clients. The total value of the contracts is $150 million per year. The company, which designs chips for vehicles, competes with Qualcomm and NXP Semiconductors.
Time ripe for next round of big reforms to attract manufacturers: Experts
Some experts suggested steps include creating world-class, export-oriented industrial hubs (where India is a laggard), ringing in favourable tax treaties with the country's top trading partners, bolstering logistics infrastructure (including connectivity with ports), encouraging sector-specific skill development, targeting high-volume local production of capital goods and investing in smart manufacturing facilities.
Report stresses on robust ecosystem to achieve $1 trn goods exports by FY30
A PwC report, "VIKSIT: An Approach for India to Achieve $1 Trillion Exports," outlines essential public and private sector strategies to boost India¡¯s export growth. Launched by Commerce Minister Piyush Goyal, the report emphasizes creating a robust export ecosystem to meet the target by 2029-30.
AI should not cause user harm, ready to legislate: MeitY Secretary S Krishnan
The Ministry of Electronics & Information Technology is launching an incentive scheme for electronic components to support India¡¯s Viksit Bharat 2047 vision. MeitY Secretary S Krishnan emphasized the importance of self-reliance in semiconductors and discussed the progress in AI regulation and data privacy under the Digital Personal Data Protection Act, 2023.
India puts in place portal to facilitate visa for Chinese technicians
The move assumes significance as some domestic manufacturing firms have flagged the issue of delay in getting visas for Chinese technicians, who are required for works like installation or repair of certain machines, besides training workers in India.
Auto industry needs 2 lakh skilled people by 2030 to meet 30 pc EV adoption target: SIAM
The Indian automotive industry anticipates the need for up to 2 lakh skilled personnel by 2030 to achieve the government's goal of 30 percent electric vehicle adoption. This projection was announced by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. An investment of Rs 13,552 crore is expected to be allocated for hiring and training this workforce.
From stuffed toys to sports cars, sales break gender rules
Gender norms are blurring in purchasing decisions, particularly in urban India, with more men and women adopting newer hats in their social and professional lives. Consumer goods companies are adapting their marketing strategies to address this change. Women are increasingly buying 'toys for boys', such as drones and remote-control cars, accounting for 25-30% of Hamleys' sales.
India major gainer of China+1, exports to soar to $835 billion by 2030: Nomura
India and Vietnam are emerging as key beneficiaries of the China plus one strategy, with Nomura predicting significant growth opportunities for Asian economies. According to a report by Nomura, India's exports are projected to skyrocket to $835 billion by 2030 from $431 billion in 2023, driven by its vast domestic market attracting companies seeking supply chain diversification away from China.
Qualcomm agreed to create roadmap for developing industrial electronics, 6G Labs: Union Minister Ashwini Vaishnaw
Qualcomm and the Indian government have partnered to develop industrial, automobile, and telecom electronics, with plans to establish 6G labs similar to the existing 5G labs. The Chennai Design Centre will focus on semiconductor design, aligning with the 'Make in India' campaign and Prime Minister Modi's vision for a strong indigenous semiconductor industry.
Govt directs 4 sectors to provide detailed info on warranty, service centres
The government has directed major industries like automobiles and electronics to provide consumers with detailed information about products, service centers, and warranty conditions to prevent deception during repairs. This initiative aims to address consumer complaints and ensure transparency in the repair process. The government has also set up the Right to Repair Portal India to facilitate access to repair-related information. Standardizing product warranty forms and providing information on the average lifespan of consumables are among the measures to protect consumer rights and improve repair services.
Q3 Preview: Atleast 23 companies to see profits doubling YoY as earnings momentum continues
Most of these companies are part of automobile, auto ancillary, capital goods, electronic manufacturing, metals, and a few in the financial services sector.
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