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Stakes held by powerful private shareholders, known as promoters, in large Indian companies have fallen to an eight-year low in India. Yet the reality on the ground suggests a tightening, not loosening, of their control. As global companies enter India, promoter-backed businesses are emerging as partners of choice. Fast fashion giant Shein has entered an alliance with Reliance Industries, and MG Motor has teamed up with Sajjan Jindal-backed JSW. So-called promoter shareholdings in public firms fell to 40.58%, an eight-year low, per an analysis by PRIME Database of 2,086 companies listed on the main board of the National Stock Exchange.

“We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time,” JLR said in a statement on its website. A measure of market depth, Bid is the highest price a trader is willing to pay to buy a stock and Ask/Offer is the lowest price a seller is willing to accept for selling a stock. A measure of price volatility, these values reflect highest and lowest prices at which a stock has traded during the current trading session. Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. Meanwhile, India’s top electric scooter maker, TVS Motor, has said it is seeking alternative sources to rare earth magnets from China. It is working on several solutions including ferrite-based magnets and those that do not need heavy rare earths.

Indian automakers say ethanol fuel hurts mileage but is safe, as motorists complain

This comes amid slowing demand at home and intense competition as Chinese brands flood the market. Renault’s relatively small size – it is at 15th place in global car sales – makes it a challenge for the French carmaker to advantages of pert find money to invest in new technologies like electrification and autonomous vehicles. This has forced it to form partnerships with China’s Geely and Volvo Group, raising concerns among unions that the company could lose its in-house know-how and its independence.

In March, the Trump administration said it was penalizing Columbia over how it handled last year’s protests by canceling $400 million in federal funding. Trump later told reporters that Bezos had solved the problem “very quickly” and was “very nice.” Earlier this week, though, Trump announced Apple would invest an additional $100 billion in the U.S., raising Apple’s total domestic commitment to $600 billion over the next four years. The remarks from Trump came as the British carmaker, now owned by India’s Tata Motors TAMO.NS, announced the retirement of CEO Adrian Mardell, who spent more than three decades at the company. Trump responded to Musk’s attack on Truth Social, threatening to cut federal subsidies and contracts to Musk’s companies and saying the billionaire “just went CRAZY” after losing the EV mandate in the bill.

Auto File-Trump’s trade-offs and tariff fury, and Renault’s new CEO

“We are now working at pace to restart our global applications in a controlled manner,” the statement from JLR, which has three carmaking factories in Britain, said. The breach, which the company disclosed on Tuesday, is the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer MKS.L and Co-op have fallen victim to increasingly sophisticated breaches. There is concern about the financial impact of the stoppage on JLR’s British supply chain, which includes many smaller companies and supports 104,000 jobs across the country.

  • It is working on several solutions including ferrite-based magnets and those that do not need heavy rare earths.
  • At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27.
  • This ratio represents a company’s net asset value or shareholder’s equity per outstanding share.
  • The reduction also extends to the textile sector – one of India’s largest exporters – that has been hard hit by U.S.

Tata sees this as a once-in-a-lifetime kind of deal which will give its trucks access to new markets like Europe and Latin America where Iveco has a strong presence, and to its technologies like electrification. Little-known to those outside Renault, the French carmaker’s newly appointed CEO, Francois Provost, is not new to the carmaker’s challenges. He spearheaded Renault’s previous transformation plan unveiled in 2022 by former CEO Luca De Meo and has now been tasked with steering the French carmaker through growing competition and weak demand. It is therefore no coincidence that days before the trade deal was agreed, Samsung Electronics inked a $16.5 billion chip deal with Tesla and LG Energy Solution also signed a $4.3 billion deal with the EV giant for energy storage system batteries. “There will be a fundraise that will happen. We also have Tata Capital that we will monetise to make sure that the equity raise is limited,” Balaji said in a call with investors. Tata Motors holds a 4.7% stake in non-bank lender Tata Capital, which filed confidentially for an up to $1.88 billion initial public offer in April, per IFR.

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MUMBAI, August 6 (Reuters Breakingviews) Tata Motors’ TAMO.NS latest cross-border acquisition comes with a peculiar Indian flavour. The automaker’s heavy-vehicles unit will raise equity to pay off some of the 3.8 billion euro ($4.4 billion) loan for its buyout of the non-defence business of Italy’s Iveco IVG.MI unveiled last week. Its determination to turn debt-free as soon as possible is inspired by a mix of strategic goals and local compulsions. The billionaire tech CEO spent hundreds of millions of dollars supporting Trump’s re-election, a move investors who bid up Tesla stock expected to benefit Musk’s empire. President Donald Trump on Tuesday criticized Goldman Sachs GS.N CEO David Solomon for the bank’s take on the potential impact of tariffs on the economy, as the president’s tiff with corporate America’s bigwigs widens. Under the new system, India will abolish the 28% slab – which includes cars and electronics – and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods.

India tax cuts to boost festive season car sales, auto dealers body says

India’s GST council, which is headed by federal Finance Minister Nirmala Sitharaman and has representation from the country’s states, is expected to finalise the list of items for tax cuts in a meeting on September 3-4. The U.S. has said it will charge a 15% tariff on imports from South Korea, down from a threatened 25%, as part of a deal that eases tensions with a key Asian ally and trading partner. South Korea, however, will allow American products, including autos, into its markets and impose no import duties on them. Goldman Sachs Economics Research in a note published on August 10 said that U.S. consumers had absorbed 22% of tariff costs through June and their share will rise to 67% if the recent levies follow the same pattern as the earliest ones. Small cars made up a third of the 4.3 million passenger vehicles sold in the world’s third-largest automobile market last fiscal year, down from nearly 50% pre-COVID, industry data showed. “With more affordability, more people will come into the purchasing system,” said Bhargava, who declined to comment on proposed tax cuts on small cars until the fine print is out.

Economists expect the cuts to cost $21 billion in revenue losses, with states set to lose more than the federal government. A panel on the tax, headed by Finance Minister Nirmala Sitharaman with ministers from all Indian states, will decide on a plan to cut the tax on more than 400 items, ranging from hair oil to small cars. The tax panel also lowered the effective tax for big cars to 40% from the current rate of as much as 50%, making cars from Mercedes-Benz AGMBGn.DE, AUDI Aktiengesellschaft and BMW BMWG.DE attractive. GST on EVs was kept at 5%, giving relief to carmakers such as Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS after a panel recommended an increase.

The carmakers have for years lobbied for cuts to tax on a technology they say is cleaner than petrol cars. India is planning to cut consumption tax on key export items like fertilisers, farm machinery and tractors and their parts to 5% from 12% or 18% at present. The reduction also extends to the textile sector – one of India’s largest exporters – that has been hard hit by U.S. The panel will also consider lowering taxes on consumer items such as toothpaste and shampoo to 5% from 18%, and on small cars, air conditioners, and televisions to 18% from 28%.

In July, JLR reported an 11% drop in quarterly sales, partly due to a temporary pause in U.S. shipments after tariffs were imposed. Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5%-7%, down from 10%, citing ongoing trade uncertainty. One of his top priorities will be to get Renault’s credit rating back to investment grade to attract new investors, while also boosting its market cap. The French carmaker needs all the money it can find to grow its global footprint and invest in technologies. A share sale might seem sub-optimal for the offshoot of a company that S&P Global confers with a long-term credit rating one notch higher than India itself. Moreover, the truckmaker’s net debt is likely to stay at just 1.3 times its post-acquisition two-year forward EBITDA, estimates by ICICI Securities show.

The Unite trade union has warned of job losses and said government support would be needed given the lengthy stoppage. Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday. LONDON, Sept 16 (Reuters) – Britain’s largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its British plants to more than three weeks. Earlier this month, British luxury carmaker Jaguar Land Rover said that its retail and production activities were “severely disrupted” following a cybersecurity incident, forcing its factories to stay shut until September 24. Automakers worldwide have reported a spate of cyber and data breaches in recent months, as increasingly sophisticated threat actors disrupt operations and compromise sensitive data. The automaker said the incident, which is under investigation, exposed only basic contact information and did not involve financial details or sensitive personal data.

One reason for the rapid fall in their holdings from a peak of 45% in 2022 is an increase in listings of companies backed by financial sponsors like $32 billion food delivery firm Eternal ETEA.NS and its rival Swiggy SWIG.NS. The quirky term is rooted in post-independence India’s encouragement of entrepreneurs to promote local enterprise and describes owners that have large sway over the affairs of a company. These days, it assumes a mildly pejorative edge, making private banks and startups flaunt their lack of promoters as shorthand for good governance. In March, the Trump administration said it was penalizing Columbia University over how it handled last year’s protests by canceling $400 million in federal funding.

Shareholding Pattern

Sales have been falling at the company due to its aging vehicle line-up, tough competition and Musk’s right-wing political stances that have tarnished its brand. Tata Motors will demerge its cars and trucks units into two separate entities, Tata Motors Passenger Vehicles and TML Commercial Vehicles, effective October 1. Trump alleged BofA CEO Brian Moynihan and JPMorgan Chase JPM.N CEO Jamie Dimon discriminated against him and his supporters. The latest round of trade talks between the two nations set for August has also been called off. Stocks of insurance companies such as ICICI Prudential ICIR.NS, SBI Life SBIL.NS, and LIC LIFI.NS rose as much as 2%-5% before pairing some gains. “This is the first arrest of many to come. We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it.”

  • The panel is likely to discuss raising taxes on high end electric vehicles priced at more than 2 million rupees.
  • The automaker’s heavy-vehicles unit will raise equity to pay off some of the 3.8 billion euro ($4.4 billion) loan for its buyout of the non-defence business of Italy’s Iveco IVG.MI unveiled last week.
  • Renault’s relatively small size – it is at 15th place in global car sales – makes it a challenge for the French carmaker to find money to invest in new technologies like electrification and autonomous vehicles.
  • Two fuel station managers in the northern city of Lucknow told Reuters that drivers were getting so angry that some stations had stopped providing information about the change.

In January, Trump accused both Moynihan and Dimon of not providing banking services to conservatives, echoing Republican complaints about the industry. However, Trump responded that it was mostly “companies and governments, many of them foreign, picking up the tabs”, and that “David Solomon and Goldman Sachs refuse to give credit where credit is due.” Modi’s ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, “a brighter gift of simpler taxes and more savings is waiting for every Indian.” “It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation.” Government data shows the 28% and 12% tax slabs together garner 16% of India’s annual GST revenue of roughly $250 billion last fiscal year.

In a post on his social media platform on Thursday, Trump also called Comcast a “weak and ineffective owner … headed by … Brian Roberts.” But in recent weeks it has become the only choice at nearly all of the country’s 90,000 fuel stations. Older blends, like E5 and E10, typically seen as more compatible with old cars, have mostly been removed, leaving drivers with just one choice. However, bigger cars, categorised as those longer than 4 meters in length and with a large engine capacity, will see a higher GST of 40%, up from 28%, but the government is expected to lower additional levies to keep the overall rate the same at around 50%. The biggest reform of the goods and services tax system in nearly a decade comes amid strained trade ties with the U.S., with Modi making repeated calls for increased use of Indian products. Modi first flagged his reform plan last month on Independence Day when he said he would make daily products cheaper for people in the world’s fifth largest economy.

His unprecedented actions, from novel export deals to frozen university grants, have upended the status quo between the government, law, academia and corporate America. President Donald Trump has escalated his criticism and actions against executives, corporations and institutions. His unprecedented actions – from novel export deals to frozen university grants – have upended the status quo between the government, law, academia and corporate America.