Hero MotoCorp to hike product prices to
combat rising commodity costs
Hero MotoCorp Limited (HMCL), the world’s
largest two wheeler manufacturer, has announced a price increase in its
motorcycles and scooters, up to Rs900 per model.
This rise was announced by the company to
stock exchanges on September 26, 2018. The price hike has been taken to offset
rising raw material (and commodity) costs and currency depreciation. The
exact quantum of increase will vary, basis the model and specific market. The
hike in ex-showroom prices of motorcycles and scooters will be applicable from
October 3, 2018.
Aviation stocks dive as govt imposes 5%
duty on jet fuel
Shares of aviation companies slid in the
late morning session on Thursday after the Government of India imposed 5%
import duty on jet fuel or aviation turbine fuel (ATF).
Shares of Jet Airways plummeted ~8%,
SpiceJet slid ~1%, and InterGlobe Aviation fell ~2%, also touching their
respective 52-week lows on Thursday.
The imposition of import duty on jet fuel
will have a major impact on the operations of these aviation companies, which
are already struggling with the higher fuel prices.
Footwear stocks on roll after Centre
hikes basic customs duty
Footwear stocks were buzzing on the
bourses in late morning trade on Thursday after the central government, on
Wednesday evening, hiked basic customs duty (BCD) on footwear from 20% to 25%.
This hike will provide more price competitiveness to local players.
The government has hiked basic customs
duty on the imports of 19 consumer goods in a bid to narrow the widening
current account deficit. This hike in basic customs duty (BCD) would be
effective from Thursday, September 27, 2018.
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