Ind-Ra has maintained an improving outlook for the auto ancillary sector and maintained a stable outlook on its rated portfolio for the second half of FY22. Credit metrics are likely to improve in FY22.

Ind-Ra revised auto volumes growth forecast to 12%-16% YoY from the initial forecast of 16%-20% YoY. The downward revision is due to a revision in the growth forecasts for 2Ws and PVs.

India Resurgence Fund ("IndiaRF"), promoted by Piramal Enterprises Limited and Bain Capital Credit has made an announcement related to an investment of $830 million in Setco Group.

At the Hydrogen Wave global online forum, Hyundai Motor Group has presented its vision to promote hydrogen energy and set up a global hydrogen society.

M&M will observe seven no-production days at its plants in September. The company added that there will be no material impact of the halt on the XUV7OO production ramp-up and launch plans.

Some of the prominent automobile companies of India published the data related to their Aug sales for the current and last year.

Spark Minda acquired a 26% equity stake in EVQPOINT Solutions - a charging solutions start-up. Spark Minda will become the exclusive technology and manufacturing partner for battery chargers and EV supply equipment for EVQPOINT.

The acquisition would put the value of VIA Motors at about $630 million. Ideanomics will offer 162 million shares to shareholders of VIA Motors, which will own about 25% of the combined entity.

Sona Comstar has earmarked a capex of around Rs 6 billion for the current fiscal as it remains positive about sustaining its growth trends in the current fiscal and beyond, as per a top company