Sub-Rs 10L cars make up 78% of festive sales

CHENNAI: Rationalised GST rates and buoyant festive sentiment have propelled demand in the industry’s ‘bread-and-butter’ sub-Rs 10 lakh segment to multi-year highs, amid an ongoing premiumisation wave in the country. The reset in tax slabs – particularly for small cars and compact SUVs – widened affordability and revived interest among price-conscious buyers who had been…

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Jaiprakash Associates bid: Adani edges out Vedanta; creditors choose higher upfront payment

Creditors of Jaiprakash Associates have unanimously voted in favour of Gautam Adabi-led Adani Enterprises’ resolution plan, choosing it over Vedanta despite the latter placing the highest overall bid in a September e-auction, people familiar with the discussions told ET.Jaiprakash Associates (JAL), which owes lenders Rs 55,000 crore, was admitted into insolvency proceedings in June last…

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