Maruti Suzuki, Bajaj Auto, and Hero MotoCorp's tax collections were down 60-85 per cent.
March and April were the cruellest for automakers because of a nationwide lockdown. As economic begins to pick up, Surajeet Das Gupta explains how automakers can get business in these uncertain times
The volatility index, IndiaVIX, fell by 5 per cent and ended at a 4-month low of 24.75 levels on Thursday
The workers' union, which has around 3,000 members at the Waluj plant, said they have already spoken to the management and have even offered to put in extra hours
Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.
The unit, which employs close to 8,000 including contract and permanent employees, accounts for half the company's total production in India.
The affected Bajaj Auto factory is located in western Maharashtra, the state with the highest number of cases of Covid-19, the disease the virus causes
Bajaj, who has been vocal about the perils of lockdown, says the states shouldn't repeat the mistakes with more of it
Strap-Bajaj Auto's union makes fresh appeal to shut the Aurangabad plant
According to local administration officials, the Waluj plant will be shut for two days to carry out sanitising operations at the facility.
Firm admits it had its first case on June 6, but says it undertook testing, contact tracing, self-isolation and complete sanitation as per protocol
TVS Motor Co is continuing with its cost reduction efforts of previous quarters, the company's management told analysts last month
The first such dialogue was held on April 30 when Gandhi discussed the coronavirus pandemic and its economic implications with former Reserve Bank of India governor Raghuram Rajan.
Expected demand pick-up in tier-II and tier-III cities as well as preference for personal mobility amid the Covid-19 health concerns are the top two factors that would drive the demand, analysts say.
The Bajaj group is the only one on the list of 12 conglomerates to be down - 1 per cent - since the lockdown came into effect, thanks to the hammering of stocks of non-banking financial companies.
All that happened in the markets today
Reliance Industries will be in focus today as its mega rights issue opens today and closes on June 3
Improvement in realisations and average selling price (ASPs) should provide some relief to the bottom-line
Bajaj Auto's plants in Chakan and Aurangabad haven't been able to achieve "meaningful production" despite getting the requisite approvals and complying with the government guidelines, Bajaj said.
Demand slump, labour shortage put a damper on ramp-up