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Mahindra has launched two new electric SUVs, the BE 6E and XEV 9E, priced at Rs 18.9 lakh and Rs 21.9 lakh, respectively, featuring battery packs of 59 kWh and 79 kWh with a claimed range of over 500 km. The company aims for 30% of its Passenger Vehicle sales to come from electric models by 2027, positioning itself against Tata Motors, which currently holds a 65% market share in India's EV sector. Tata's sales have been affected by the expiration of certain subsidies, despite strong consumer interest in its diverse EV lineup.
Tata Motors anticipates improved passenger vehicle retail growth in Q3, driven by recent model launches and a focused marketing strategy, despite a 5% drop in Q2 registrations. The festive season has sparked a revival in demand, helping to address inventory challenges and the impact of subsidy phasing.
State Bank of India reported a consolidated profit of Rs 20,219.62 crore for Q2FY25, marking a 23.4% increase year-on-year, with standalone profit rising 27.9% to Rs 18,331.44 crore. The bank's gross NPA ratio improved to 2.13%, while credit growth reached 14.93% YoY, driven by corporate and agricultural advances. Meanwhile, Tata Steel's EBITDA rose to Rs 55 billion, bolstered by strong Indian operations, despite widening losses in Europe.
Shailesh Chandra
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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