Saturday, October 17
The co-owner of the KTM AG motorcycle maker has secured a €566 million ($632 million) one-year loan within days of a deadline to fund an insolvency plan at the troubled Austrian company.The European unit of Bajaj Auto Ltd. agreed to the unsecured loan with JP Morgan Chase & Co., DBS Bank Ltd. and Citigroup Inc., according to a regulatory filing to the BSE. The funds will be used for Bajaj Auto’s investments, according to the filing which does not name KTM.KTM’s creditors agreed in February to a 70% haircut as part of a restructuring deal. The company has until May 23 to deposit €544 million with its insolvency administrator and pay out a 30% quota to creditors.Bajaj and Austrian entrepreneur Stefan Pierer co-own Swiss-listed Pierer Mobility, which is the parent of KTM. Citi has
Demand for spirits across categories slowed down to 1.6% in FY25, falling from 4.2% a year ago, after distribution changes in a few states, higher taxes and tipplers cutting back on most discretionary spends including alcobev.With sales improving in the December quarter, most companies had expected gradual recovery, which was belied by a tepid 0.5% January-March sales performance. Volume sales of whiskey, which accounts for roughly two-thirds of the market, saw a muted 1.5% increase in volume last fiscal while brandy and vodka sales were flat, according to latest excise department data. Brandy grew less than 1% while gin sales increased 3.6% on a lower base.121253586"We are seeing some moderation especially in Gen Z consumers, who choose quality over quantity, and in time to come, we shoul
