IndiaÂ’s largest commercial vehicles maker Tata Motors expects to ship at least 15 per cent more trucks and buses this financial year as it hopes to export at least half of its banned BS-III inventory.
Category: Warehousing & Logistics
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TVS MotorÂ’s Q4 profit down 7% to Rs 127 crore
TVS Motor has reported a 6.80 per cent decline in net profit at Rs 126.77 crore for the quarter ended March 31, 2017. It had reported net profit of Rs 136.03 crore in the corresponding quarter of the previous year.
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Allcargo signs MoU with Maharashtra State Skill Development Society
Allcargo Logistics’ CSR arm has signed a Memorandum of Understanding (MoU) with Maharashtra State Skill Development Society (MSSDS) to train over 7,400 youth in Maharashtra. This initiative will help Allcargo to enhance its scope of work under its skilling initiative ‘Nipun’ and would substantially contribute to the Government of Maharashtra’s Skilling Maharashtra Mission.
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Food Processing Industries Minister emphasises need to set up integrated cold chain projects
Minister of Food Processing Industries Harsimrat Kaur Badal has held an interaction with promoters of newly-allotted integrated cold chain projects in New Delhi. Addressing them, the minister emphasised the need to set up integrated cold chain projects “on war scale” in the country for all-round development of India and for fast-tracking transformation of the Indian economy.
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CV growth to moderate to 5-6percent in FY2017 | ICRA
The domestic commercial vehicle industry growth has moderated from 11.5 per cent growth in FY2016 to 3.5 per cent in the 11 months of FY2017, according to the latest report of rating agency ICRA. The sector is expected to close the fiscal with a growth of 5 to 6 per cent.
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BS-III ban may cost truck makers Rs 2500 crore | CRISIL
The Supreme Court mandated ban on sale and registration of BS III vehicles post April 1, 2017 is estimated to cost commercial vehicle manufacturers Rs 2,500 crore, according to CRISIL Research.
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Allcargo Logistics wins ‘Best Risk Management Practice’ award
Allcargo Logistics Ltd, a leading integrated logistics provider, has received an award for ‘Best Risk Management Practice’ in the category of Supply Chain (Logistics) at the 3rd India Risk Management Awards 2017 which was held at Taj Lands End, Mumbai.
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Motherson Sumi acquires auto parts maker PKC for Rs 4,000 cr
Motherson Sumi Systems (MSSL) has acquired Finland-based global auto component major PKC Group for approximately €571 million (over Rs 4,000 crore), a move that will help the group to expand its footprint significantly in the American and European commercial vehicle market segments, said the company in a statement. This is the 16th acquisition by MSSL since 2002.
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Ashok Leyland showcases range of fully built logistics vehicle solutions
Ashok Leyland, flagship of the Hinduja Group, and the 2nd largest commercial vehicle manufacturer in India, recently showcased its range of fully built logistics vehicles.
Present at the occasion, Anuj Kathuria, President – Global Trucks, Ashok Leyland, said, “The logistics sector in India is witnessing a trajectory of growth and is expected to pace at a CAGR of 16 per cent. While the inflow on new investments will create new opportunities in this sector, the ‘Make in India’ campaign will se
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Areef Patel, Vice-Chairman, Patel Integrated Logistics Ltd
The logistics sector generates mass employment and is a key revenue earner for the government. In order to improve the competencies of the logistics sector, the Goods and Services Tax (GST) should be implemented without further delay, which could result in potential savings of around $200 billion and lead to streamlining of the taxation structure and reduce inventory maintenance costs.