JSW MG Motor India June sales up 21% to 5,829 units
reported a 21 per cent year-on-year growth in
June sales
numbers, with 5,829 units sold, as the company continues to expand its presence in India's competitive
passenger vehicle market
.
The sales momentum comes ahead of the brand's much-anticipated entry into the
luxury segment
with the MG M9 Presidential Limousine, which will be followed by the launch of the MG Cyberster — touted as the world's fastest MG, stated the company. These flagship models will be retailed through the company's newly introduced luxury sales channel, MG Select, aiming to redefine premium mobility for Indian consumers.
Indian manufacturing facility
MG Motor
's facility in Halol, Gujarat, with an annual production capacity of over 1,00,000 vehicles, continues to support the brand's CASE (Connected, Autonomous, Shared, and Electric) mobility vision. MG has introduced several 'firsts' in India, including the MG Hector, ZS EV, Gloster, Astor, Comet, and Windsor, across internet-connected and autonomous vehicle categories.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Artha Global invests Rs 700 crore in Hyderabad's Phoenix Triton project
AI Image (TIL creatives) HYDERABAD: Artha Global Opportunities Fund, a Rs 5,000-crore category III alternative investment fund (AIF) operating out of GIFT City, has made its maiden private credit investment in India with Rs 700 crore to fund the completion of the Phoenix Triton project in Hyderabad. The investment in the 2.8 million square feet commercial real estate project located on a 3.15-acre parcel of land in Financial District, is structured as a four-year non-convertible debenture (NCD). With this investment, the fund said it is pioneering a variable return model that is directly linked to the project's sales performance. With a floor and cap interest rate, the returns ease cash flow pressures on the developer while offering attractive upside potential for investors, it explained. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "As we debut the first private credit investment from our over Rs 5,000 crore Artha Global Opportunities Fund, we are bringing to the market innovative structures that solve real-world challenges faced by Indian entrepreneurs. This structured funding for the Phoenix Global Spaces project will provide last-mile financing for a Grade A project nearing completion," said Sachin Sawrikar, managing partner, Artha Bharat Investment Managers IFSC LLP.
Time of India
29 minutes ago
- Time of India
Soham Parekh confesses to working for multiple startups: 'Not proud of what I've done'
Academy Empower your mind, elevate your skills Indian techie Soham Parekh has admitted to secretly working for four to five Silicon Valley startups at the same time, claiming that financial struggles pushed him into the controversial on technology show TBPN in his first public interview since the revelations, Parekh said, 'It is true. I am not proud of what I have done. I do not endorse this either, but I had to do it due to financial circumstances.'He confessed to working up to 140 hours a week, describing the period as exhausting but necessary to overcome monetary story went viral on Wednesday after entrepreneur Suhail Doshi warned startup founders on X (formerly Twitter) about him, alleging that Parekh was 'preying' on multiple Y Combinator-backed startups simultaneously. Following Doshi's post, several startup founders shared similar experiences of working with Parekh and later firing him for moonlighting . Some employers reportedly terminated him immediately after seeing the viral a separate post on X, Parekh defended his passion for engineering: 'There's a lot being said about me right now, and most of you don't know the full story. If there's one thing to know about me, it's that I love to build. That's it. I've been isolated, written off, and shut out by nearly everyone I've known and every company I've worked at. But building is the only thing I've ever truly known, and it's what I'll keep doing.'Parekh said he has now joined "one company and one company only" as a founding engineer. "They were the only ones willing to bet on me at this time. The team is cracked, they back misfits, and they're building something absolutely insane in the video AI space," he said.
Time of India
32 minutes ago
- Time of India
Ola, Paytm, Swiggy tumble up to 50% in 2025: Are your loss-making tech bets still worth it?
In the first half of 2025, Indian new-age tech stocks experienced a performance divergence. Ola Electric, Swiggy, and Paytm declined due to execution concerns and cash burn, while Nykaa and PB Fintech surged on profitability improvements. Investors are now prioritizing earnings and sustainable models over growth potential, marking a recalibration in market expectations. Tired of too many ads? Remove Ads Profits rewarded, promises punished Tired of too many ads? Remove Ads Market re-rates fundamentals Tired of too many ads? Remove Ads Turning point or temporary shakeout? What's next? India's new-age tech stocks saw a sharp divergence in performance in the first half of 2025, as investors recalibrated their expectations and began pricing in execution risk, capital discipline, and earnings visibility. Shares of Ola Electric crashed nearly 50%, Swiggy fell 26%, and Paytm declined 9%, as execution concerns and cash burn drove investors away. In sharp contrast, Nykaa surged 27.4% and PB Fintech rose 14.4% on improving profitability and margin investors now rewarding earnings over ambition, the question is whether India's digital darlings are finally being judged by fundamentals, and if that marks a permanent reset in how the market prices tech-led growth.'The sharp correction in new-age tech stocks is a much-needed recalibration rather than a collapse,' said Harshal Dasani, Business Head at INVasset. 'Investors are no longer paying for GMV or user growth—they're paying for execution, profitability, and clarity.' According to Dasani, EV/sales multiples across the board have compressed from 15–18× at IPO to 6–9× now. 'It's no longer about buying into the idea—it's about backing sustainable models.'Gains in Nykaa and PB Fintech have been anchored in visible improvements in profitability. Nykaa reported a Rs 335 crore profit in Q1 FY25 with 46% year-on-year revenue growth, while PB Fintech turned profitable with Rs 353 crore in FY25. 'Nykaa and PB Fintech have stood out due to clear delivery,' said Dasani. 'Markets have drawn a clear line: they're rewarding those showing proof of profitability, not potential alone.'Gaurav Garg of Lemonn Markets said, 'In H1 2025 investors rewarded companies that are already profitable or have a visible, near-term path to profitability… while marking down businesses that still burn cash or have execution mis-steps.' The market, Garg noted, is no longer paying for 'growth at any cost.'Meanwhile, weaker names bore the brunt of the correction. Ola Electric lost 49.7% in the first half of 2025, with sales falling sharply and losses widening. Ola's revenue fell 59% YoY in Q4 FY25 and quarterly loss doubled to Rs 870 crore. Meanwhile, monthly registrations sank 45% YoY in June and market share tumbled. Despite earlier trading at over 40× FY24 sales, the company now trades closer to 4.9× FY25 sales. Garg said that 'unless deliveries rebound and the 4680-cell project shows tangible cost savings, the stock is likely to remain under pressure.'Swiggy, which dropped 26% in H1, posted a Rs 3,117 crore consolidated loss for FY25, weighed down by Instamart. 'Instamart's losses expectedly increased on account of new store scale-up and high customer acquisition,' said Amarjeet Maurya, Deputy VP–Fundamental Research at Kotak Securities. Despite this, Kotak retains a 'buy' rating with a target price of Rs 280 for the slipped 9% in H1. Although its Q4 EBITDA-before-ESOP turned positive at Rs 81 crore, user metrics dipped and regulatory uncertainty remained. 'Paytm remains in transition,' said Dasani. 'The key is to watch execution trends, not just brand recall.'Zomato's parent, Eternal, fell 5% as growth slowed in its food delivery business, though Blinkit posted strong revenue momentum. 'Blinkit remains best positioned to capitalize on rising quick commerce penetration,' said Maurya, who has a Rs 280 target price and 'buy' rating on the stock.'The sentiment has shifted from exuberance to evaluation. Investors have matured, and so have expectations,' said Dasani. 'This change sets the stage for real wealth creation as capital flows to companies delivering fundamentals, not just narratives.'Post-IPO multiples have reset, said Garg. 'Most names listed on rich revenue multiples (15–35× sales). As the first lock-ins expired, early investors sold aggressively, exposing the mismatch between story and earnings power.' The median FY25 EV/sales for the cohort has dropped from 18× at listing to about 6–8 conditions have accelerated the correction. 'Rising real rates lifted discount rates, compressing long-duration tech valuations worldwide,' Garg said. Domestically, startup funding fell 25% year-on-year in H1 2025, curbing risk said, 'high-burn models like Swiggy's Instamart show the cracks—reporting a –5.6% EBITDA margin despite scale.' In fintech, 'Paytm's Payments Bank restrictions prove that compliance is now as crucial as innovation.'Investors are becoming selective. 'Stock picking is essential in this space,' said Dasani. 'PB Fintech and Nykaa… are showing strong metrics and execution—making them worthy of accumulation on dips.' However, Kotak has a more cautious view on Nykaa, maintaining a 'reduce' rating with a target price of Rs 185, citing stretched valuations and margin pressures in outlined differentiated positioning across the sector. PB Fintech is seen as 'premium but justified,' Nykaa as 'fair at 4–5× sales,' while Zomato requires 'wait & watch until Blinkit turns EBITDA positive.' Swiggy and Ola Electric, Garg said, should be avoided until core units turn profitable. 'Execution and cash-flow risk [is] high.'Analysts see the second half of 2025 as a crucial phase that will separate sustainable operators from speculative bets. 'The second half of 2025 will likely reward those with momentum backed by margin expansion,' said Dasani. Garg added that Nykaa and PB Fintech 'could re-rate further' if fashion and credit businesses continue to for laggards, the bar is rising. 'Unless Ola Electric demonstrates a sharp volume turnaround and Swiggy reins in Instamart losses, their shares are unlikely to reclaim IPO highs in H2,' Garg said.'The market has pivoted from paying for potential to rewarding proof,' he said. 'Investors should emphasise cash-flow visibility, disciplined capital allocation and regulatory resilience when sizing positions in India's new-age tech champions.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
