Top headlines: 59 new launches at Auto Expo 2023, PAN as single business ID

Business Standard brings you the top headlines at this hour

Over 59 products unveiled, launched on first day of Auto Expo 2023

Day 1 of the expo concluded with some top unveils by some of the leading brands with Maruti Suzuki unveiling its Concept EVX and Tata Motors showcasing its Tata Harrier EV, Tata Seirra EV and Tata Curvv petrol version.

MG Motor India announced the next generation Hector SUV, available in five, six, and seven-seater configurations, and revealed the prices. Read more...

PAN as single business ID set to get legal backing in Budget 2023-24

The Union Budget 2023-24 is likely to roll out the legal and operational framework for adopting the permanent account number (PAN) as a single business identification. This will apply to all businesses securing approvals, a senior finance ministry official informed Business Standard. Read more...

Between FAME and fortune, EV players worried about their investments

India’s electric vehicle (EV) industry touched the milestone of one million unit sales in calendar year (CY) 2022, accounting for 4.7 per cent of the overall automobile sales. That is a fraction of EV sales in China — the largest EV market — where over 7 million electric vehicles were sold in 2022, over 25 per cent of the total auto sales. Nevertheless, India’s EV growth looks impressive when compared with what it was in 2020, when EVs were just 0.6 per cent of the 18 million vehicles sold. Read more...

Conglomerates and their capex push: How much firms added since pandemic

Finance minister Nirmala Sitharaman told the Parliament in December that companies are increasing investments for more new and other assets, helped by government incentives. Business Standard analysed what large business houses have added as net fixed assets since the pandemic.

The analysis looked at the Adani, Mukesh Ambani, Tata, Aditya Birla, Mahindra, Godrej, Bajaj and the JSW groups. It considered the change in net fixed assets of these business groups. Read more...

'Vanishing act' by more than two dozen listed cos; BSE reaches out to firms

Asia’s oldest stock exchange has reached out to multiple companies that have been suspended for not meeting listing requirements, only for their communication to be returned undelivered from their registered office addresses. Read more...