AUM of domestic mutual funds grew annually by 19% to Rs 26.9 lakh crore between 2013 and 2019. Mutual fund AUM constituted 10% of total bank deposits in 2013, increasing to around 18% now.
India’s equity market capitalisation is just 6 per cent of the US, the world’s largest equity market.
J K Tyre & Industries aims to reduce debt by over 50% in three years, banks on exports and replacement mkt to de-risk biz
Already sitting on a debt of Rs 5000 crore, the company has decided to defer Rs 675 crore investment by a year in Cavendish Industries (a firm it acquired in 2016 from B K Birla Group) to ensure lean operations. With series of cost cutting initiatives and expected improvement in capacity utilisation, the company’s CFO Sanjeev Aggarwal said J K Tyre is planning to pare its debt to more than half in the coming three years.
FPIs contributed nearly twothirds of the money, while local funds made up the rest.
High on design and connectivity, South Korean and Chinese brands put pressure on tried and tested Japanese car makers in India
The Japanese dominance of the Indian car market is under threat with South Korean and Chinese carmakers expected to corner a fourth of it by 2022 from 16% at the end of 2018, driven largely by compact SUVs.
Automakers are offering record high discounts in December, these range from 5% to 15%.
Maruti feels it would miss out on a sizeable market share if it leaves the space but its rivals stay put.
The company’s stock hit the daily upper circuit limit of 10 per cent on the Riyadh’s Tadawul stock exchange on the opening day.
Nifty December contracts expire on the 26th of the month.
An assembly plant in Thailand is likely to go on stream in the next six months, while the company is exploring a facility for the Latin American market. The idea is to bring the cost down in countries where the import tariffs are high. It is looking at partners who could share the investment and offer local expertise in such markets.
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