Saturday, October 10
Mumbai: Mahindra-backed Classic Legends hopes to double sales in this financial year, going full steam on its growth plans with new motorcycle launches, aggressive global expansion and a wider dealer network, even as discretionary spending remains under pressure. The Mumbai-based manufacturer of classic brands is looking to mount a stronger challenge to segment leader Royal Enfield, which sold a record one million motorcycles last year, according to company executives. As part of its global expansion, Classic Legends plans to enter seven new markets including US, Europe and South America. Exports to US have been pushed to July from January on regulatory uncertainties. "Discretionary consumption has clearly been hit, but the stock market gives a false sense of comfort," Anupam Thareja, co-f
Shares of Zinka Logistics Solutions climbed as much as 3.1% on Wednesday to Rs 457.15 on the BSE after several investors, including Quick Routes International, Accel and Peak XV Partners, offloaded significant stakes in the logistics unicorn through open market transactions.Quick Routes International, a key early backer of Zinka Logistics, exited the company on Tuesday by selling its entire 9.01% stake for Rs 672 crore via two bulk deals. According to NSE data, the investor sold over 1.59 crore shares in the price range of Rs 420.06–420.25 apiece.Zinka Logistics Solutions is the parent entity of Blackbuck, a Bengaluru-based digital freight platform that counts several global and domestic investors among its shareholders.Accel and Peak XV also trim holdingsIn a separate deal on the BSE, A
India's dominant services sector maintained its robust growth in May, fueled by strong export demand and record hiring, although price pressures intensified, a survey showed on Wednesday. The HSBC India Services Purchasing Managers' Index , compiled by S&P Global, stood at 58.8 in May, marginally up from April's 58.7 but lower than a preliminary reading of 61.2. It has been above the 50-mark separating growth from contraction for nearly four years. New business - a key gauge for demand - expanded at a sharp pace in May, largely aligned with growth rates seen from February through April. Companies attributed this sustained momentum to advertising efforts, positive demand trends and repeat business from existing clients. This healthy demand environment was particularly evident in interna
