Auto Sector

Data from the Society of Manufacturers of Electric Vehicles shows that since December 2021, it has sold more than 239,000 electric scooters.

Three years after the island nation had stopped operating flights between Chennai and Jaffna because of the COVID-19 pandemic, India and Sri Lanka restarted the flights in December 2022.

Ashok Leyland has been awarded contracts for the procurement of the Field Artillery Tractor (FAT 4x4) and the Gun Towing Vehicle (GTV 6x6) in the defence sector.

This project, executed in collaboration with Sri Lanka Railways, aims to enhance the efficiency and reliability of the railway infrastructure.

The company has proposed an investment of Rs 4067.27 crore for the implementation of advanced metering infrastructure projects.

As motorcycle manufacturers observe significant value and volume growth in this category, which sold over 800,000 units in FY23, competition in the 250cc-plus bike market is escalating.

In our NFO Pick section, this week we have picked a hybrid scheme.

Spot gold was down 0.1% at $1,952.58 per ounce. To $1,957.20, U.S. gold futures were down 0.4%.

The euro hovered just below that top at $1.1228 after rising 2.4% last week to a 16-month high. The yen maintained steady at 138.69 per dollar last week, rising 2.4% overall.

Brent crude futures were down 57 cents, or 0.7%, to $79.30 per barrel, while U.S. West Texas Intermediate crude was down 52 cents, or 0.7%, to $74.90 per barrel.