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Business Economy


Toyota Kirloskar Motor clocks 1639 units in May 2020, Resumes production in its plant in Bidadi

Kolkata, May 31 (UNI) Toyota Kirloskar Motor (TKM) on Sunday announced that the
company sold a total of 1639 units in the month of May 2020.
The company had sold a total of 12,138 units in the domestic market in the corresponding
month last year, as well as exported 928 units of the Etios.
Having announced resumption of production in its plant in Bidadi since May 26, TKM has
been catering to the pending orders that the company had received, ever since the
nationwide lockdown was announced. The month of May also witnessed gradual restart of
Toyota dealership in certain parts of the country. By mid-May, almost 60% of Toyota
dealerships were operational. However, this did not comprise of the key metropolitan
markets. As the lockdown relaxed, TKM was able to cater to customers in other markets
as well, a TKM spokesperson here said.
Commenting on the monthly sales, Naveen Soni, Sr. Vice President, Sales & Service,
TKM said, “We are thankful to the Govt. as well as to our supplier and dealer partners
who have enabled us resume production last month. We are conscious of the dealer
business conditions in various parts of the country and we have been prioritizing production
at our end as per dealer requirements, both in terms of quantity as well as the grades that
they require."
"The market has been slow and with demand being less, we have been able to
wholesale only 20% of what we would have clocked under a normal situation. However,
retail sales (sale from dealer to customer) have been much higher when compared to
wholesales (TKM sales to dealers), thereby helping us reduce the month closing
inventory levels at dealerships. We have also seen a significant surge in customer orders
and enquiries online, through digital platforms," Mr Soni added.
UNI BM
More News

2020 Indiaspora Business Leaders List Recognizes More Than 50 Executives of Indian Heritage Leading Global Corporations

10 Jul 2020 | 11:06 PM

PUNE and WASHINGTON, July 10, 2020 /PRNewswire/ -- Indiaspora, a nonprofit organization of global Indian diaspora leaders from various backgrounds and professions, released today their inaugural list honoring executives of the Indian diaspora who are leading the largest global corporations in 2020.

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Mukesh Ambani is eighth richest in the world

10 Jul 2020 | 10:46 PM

New Delhi, Jul 10 (UNI) India's richest man and CMD of Reliance Industries Mukesh Ambani is eighth richest man in the world, according to the latest Bloomberg Billionaires Index released on Friday.

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IIP numbers of May not released due to inadequate data

10 Jul 2020 | 9:19 PM

New Delhi, Jul 10 (UNI) The government did not release headline industrial output numbers for May due to inadequate data collection in view of the lockdown imposed in the country to curb the spread of Covid-19.

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SAIL maintains profitability during FY20; Earns more than Rs 2,000 cr net profit

10 Jul 2020 | 9:03 PM

New Delhi, Jul 10 (UNI) Steel Authority of India Limited announced on Friday that it has earned a Profit Before Tax (PBT) of Rs 3170.66 Crore leading to Profit After Tax (PAT) of Rs 2021.54 Crore in the Financial year 2019-20.
This profit has been earned in spite of the challenging market conditions including the onset of Corona virus pandemic. In FY’20, the Company made a turnover of Rs 61024.88 Crore and its EBITDA per tonne of Saleable Steel improved from Rs 7284 in FY’19 to Rs 7869 FY’20.

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Rossari First IPO to do Virtual Roadshow

10 Jul 2020 | 8:30 PM

Companies adopt Virtual Roadshows for Capital Raise
MUMBAI, July 10, 2020 /PRNewswire/ -- Rossari Biotech Ltd, which is doing a capital raise of Rs. 500 Crores is the first company to have a virtual press conference followed by an analysts & brokers Conference for announcing its IPO which opens for subscription on Monday, July 13, 2020. The virtual conference had over 1,000 registrations and was simultaneously broadcasted for investors.

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