Defence stocks rallied sharply on June 17, with broad-based gains across the sector as India's defence production reached an all-time high of Rs 1.78 lakh crore in the Financial Year (FY) 2025-26, marking a significant milestone in the country's push towards self-reliance in defence manufacturing. Paras Defence emerged as the top gainer, surging 12.89%, followed by Astra Microwave Products, which advanced 7.72%, and MTAR Technologies, up 6.99%. Data Patterns gained 4.81%, while Bharat Dynamics rose 4.39%. Among the public sector defence names, Garden Reach Shipbuilders climbed 3.67%, Hindustan Aeronautics Ltd. (HAL) added 3.51%, and Cochin Shipyard gained 3.39%. Mazagon Dock Shipbuilders rose 2.43%, while Mishra Dhatu Nigam and DCX Systems advanced 2.14% and 1.84%, respectively. Bharat Electronics Ltd. (BEL) gained 1.58%, and IdeaForge Technology rose 1.29%. Bharat Forge was the laggard within the pack, up 0.46%. The record output represents a 15.6% increase compared ...
German carmaker Audi has dropped its iconic four rings logo in China, a move that has shocked social media. The logo has been a symbol of the luxury cars since the 1930s, but wasn't a part of a new E Concept electric sportback that was showcased in Shanghai earlier this month. The car just carried 'AUDI' in all caps on the front. This comes at a time when Jaguar's new logo has sparked a buzz on social media, with users criticising the move.
Internet is shocked by Audi's rebranding too - though it has so far only happened in China.
"Very confusing branding choice," commented one user. "Bad move. Everyone knows the Audi logo. This new one is lame," said another.
While explaining the reason behind Audi's move, another user expressed his disappointment by saying, "The Chinesification of foreign premium brands in China continues, one way to survive the bloodbath."
The new AUDI logo is part of a project with Chinese automaker SAIC to co-develop electric vehicles aimed at attracting younger customers in the world's largest auto market.
It marks an effort by both Audi and SAIC to win back market share in China, where legacy local players and foreign automakers have been losing ground to EV- and hybrid-focused rivals.
"The customers (here) are much younger than the rest of the world, 30 and 35 (years old) on average in the premium segment, while the rest of the world is 55," Fermin Soneira, CEO of the project, told news agency Reuters.
"The EV series aims to attract younger drivers who seek high-end technology features such as advanced driver-assistance systems," the CEO further said.
The new EV series uses automotive architecture co-developed with SAIC, and Audi says it will rely more on local suppliers and technologies.
Audi sold fewer than 15,000 EVs in China in the first nine months of 2024, according to data from the China Association of Automobile Manufacturers. In comparison, Chinese premium EV brands Nio and Xpeng sold roughly 10 and seven times more, respectively.
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