Mahindra Logistics acquires stake in startup to help digitisation

Mahindra Logistics has acquired strategic stake in freight management solution startup Transtech Logistics, also known as ShipX.

The Mumbai-based company said in a stock-exchange filing that it will acquire up to 115,554 compulsory convertible preference shares and 100 equity shares valued at Rs 7 crore (about $1 million). The company, one of India’s largest multimodal logistics service providers, said this acquisition would help it to embed technology into its ecosystem and Shipx will help it to enhance product features.

Hue and cry over arrest of 5 human rights activists

The Maharashtra police on Tuesday raided homes of prominent Left-wing activists in several states and arrested at least five of them for suspected Maoist links, sparking a chorus of protests from human rights defenders.

The raids were carried out as part of a probe into the violence between Dalits and the upper caste Peshwas at Koregaon-Bhima village near Pune after an event called Elgar Paris­had, or conclave, on December 31 last year.

Escorts in pact to make high capacity mobile cranes

Escorts, India’s third largest tractor manufacturer and Tadano Group, Japan’s biggest and world’s leading mobile crane manufacturer, on Monday announced their joint venture to manufacture rough terrain cranes and truck mounted cranes.

The 51:49 joint venture between Tadano and Escorts will be called Tadano Escorts will initially invest Rs 60 crore and expand with volume growth.

Tadano has been selling its products made in Japan and Germany in India since 2012.

Ducati rides in new Scrambler 1100 bike at Rs 10.91 lakh

Ducati, the Italian luxury motorcycle manufacturer on Monday widened its portfolio by introducing a new Scrambler 1100 bike and 2 more variants called Special and Sport in the competitive Indian bike market to boost sales. Apart from the standard Scrambler 1100 model priced at Rs 10.91 lakh, the variants are available in two higher-specification models called the Special at Rs 11.12 lakh and the Sport at Rs 11.42 lakh at pan India showroom.

Force Motors buys Man Trucks’ Pithampur plant

It’S curtains for German heavy commercial vehicle maker MAN Trucks of Volkswagen group after struggling for 15 years to make a mark in the world’s fourth largest automobile market. 

But Europe’s leading truck maker is ensuring that 400 employees at its Pithampur factory in Madhya Pradesh are retained by the buyer.

Kerala Received 41% above normal rains, S Kerala got 150% in excess

Monsoon rains and widespread flooding that wrecked Kerala and claimed around 400 lives according to some reports have a telling fact behind them — the state has received 41 per cent more rains than normal for the period June 1 to August 22. For August alone till Wednesday, it was lashed with 150 per cent above normal rains, grinding southern Kerala to a halt and ruining its economy.

Thousands of people have been displaced in the floods and Kerala chief minister Pinarayi Vijayan has pegged the state’s losses at over Rs 19,512 crore.

Eyeball events mark new launches

Several car manufacturers in Asia’s third biggest car mart are racing to introduce new models to woo buyers with exciting marketing strategies and eyeball events.

From market leader Maruti Suzuki to Hyundai, Mahindra, Honda, among others, aggressively tap into every gimmick to catch potential buyers attention during the festival season. The season starts in August in some parts of the country and goes on till December, which marks model year ending, with heavy discounts to lure customers.

Hyundai joins car-sharing firm Revv to expand biz

Hyundai Motor Co-mpany, South Kore-a’s biggest car maker, has partnered with self-drive car sharing company Revv to develop an innovative car sharing service in India. The market for self-drive services is expected to grow to $1.5 billion by the end of 2018 from $900 million in 2016, and is projected to expand to $2 billion by 2020.

New bikes from the stable of Royal Enfield

Royal Enfield, the Eicher Motors-owned cruiser and touring bike specialist, plans to start bookings for its much awaited all new Continental GT 650 and the Interceptor INT 650 bikes this November.

It will be a global launch event for all markets.

Royal Enfield is the global leader in mid-size motorcycle segment.

These two new bikes were showcased in November last year at the EICMA, the Milan Motorcycle Show, Italy.

Maruti Suzuki, Mercedes hike car prices

Mercedes-Benz and Maruti Suzuki have decided to rai­se prices of their cars, blaming rising input costs and upwards forex movement.

While prices of Merce­des-Benz cars will go up  by up to 4 per cent from Septe­m­ber 1, cost of Maruti Suzuki vehicles will rise by up to Rs 6,100 (ex-showroom Del­hi) with immediate effect. 

Announcing the hike, the German luxury brand said rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates were exerting significant pressure on overall operations.