Yanmar will acquire shares held by the world's biggest private equity fund, Blackstone Group, which will make a rough three times return on a four-year-old investment.
Sona BLW will invest Rs 100 crore in the facility over the next two to three years. The facility is expected to generate around 300 jobs.
The Japanese auto major has sold over 100,000 units of Fortuner in India ever since its launch in 2009
In an interview to Sharmistha Mukherjee, he says demonetisation has hit sales, but the situation should improve by the second half of 2017.
The Ignis - which will be positioned above Alto - is targeted at Indian millennials.
The company is now planning multiple interventions in the mass segment to boost volumes further and strengthen its presence here over the next two to three years.
The bigger loser in volume and market share has been Volkswagen Group-owned Audi, which saw some challenges on diesel vehicle recalls.
The impact of the demonetisation exercise was more pronounced in the commercial vehicles, three-wheelers and two-wheelers segments.
Now with toll charges returning, lower freight availability could pull down margins by 5-7%, Crisil says in its latest research note.
IHS Markit’s revised projection comes close on the heels of BofA-ML stating in its research note last week that it expects India’s GDP growth to come down by 50 basis points this fiscal.
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