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Bajaj Auto on Monday reported a 5 per cent year-on-year growth in total vehicle wholesales, including exports, at 4,17,616 units in August.The Pune-based automaker had sold 3,97,804 vehicles in August 2024, according to a regulatory filing.Total domestic sales (including commercial vehicles) declined 8 per cent to 2,32,398 units in August compared to 2,53,827 units sold in the corresponding month last year.Total exports for July rose 29 per cent year-on-year to 1,85,218 vehicles from 1,43,977 units in the year-ago period, according to the filing.Total two-wheeler sales, including exports, increased 2 per cent to 3,41,887units in August compared to 3,35,178 units in the same month of last year.Domestic two-wheeler sales stood at 1,84,109 units in August 2025, down 12 per cent from 2,08,621 units in the year-ago period.

Global brokerage Morgan Stanley initiated coverage on CG Power and Industrial Solutions, a multibagger that has delivered 3,252.67% returns in the past five years, with an ‘Overweight’ rating and a target price of Rs 799. Following this, the stock advanced 4.3% to an intraday high of Rs 724 on the BSE on Monday.Morgan Stanley described CG Power as a proxy for India’s manufacturing growth story, underpinned by its established position in motors, a strong power systems franchise, and expansion into railways and semiconductors.The brokerage said the company’s manufacturing capabilities and cash generation profile provide visibility for sustained earnings growth.The brokerage forecasts a 34% CAGR in profit after tax (PAT) during FY25–FY28, the fastest among its EPC and capital goods coverage universe.By segment, it expects the industrials business to post a 14% revenue CAGR and 15% EBIT CAGR during FY25–28, while the power systems division is projected to deliver revenue CAGR of 35% and EBIT CAGR of 42%.In semiconductors, Morgan Stanley projects a peak asset turnover of 1.9x by FY31E.CG Power has also drawn attention in the previous week, following the inauguration of its subsidiary CG Semi’s OSAT (Outsourced Semiconductor Assembly and Test) facility in Sanand, Gujarat.Backed by a proposed investment of Rs 7,600 crore over five years and supported by global partners such as Renesas and Stars Microelectronics, the project marks a significant addition to India’s semiconductor manufacturing capacity.The G1 facility, which commenced operations last week, has a peak capacity of around 0.5 million units per day, with commercial production targeted for 2026 after customer qualification runs.Also read: NSE hikes quantity freeze limit for Bank Nifty derivatives to 900 from September 1(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Prime Minister Narendra Modi on Monday reaffirmed India’s tough stance on terrorism at the Shanghai Cooperation Organisation (SCO) summit in Tianjin, arguing that the regional bloc must rise above double standards and adopt a collective approach.“Terrorism, separatism and castism are three problems facing nations globally at the moment,” Modi said in his address, calling the threats a shared challenge that the SCO should confront head-on.He stressed that India has been consistent in its opposition to the financing of terror networks. “India has raised voice against terror financing,” the Prime Minister said, adding, “We must unanimously denounce terrorism.”'Perpetrators must be brought to justice': SCO declaration condemns Pahalgam terror attack in Pakistan PM Shehbaz Sharif's presence'SCO as Security, Connectivity and Opportunity'Outlining India’s vision for the grouping, Modi said New Delhi’s engagement was guided by three key principles. “India's perspective and diplomacy on SCO are based on three principles: Security-connectivity and opportunity,” he told fellow leaders.He said the Shanghai Cooperation Organisation, which brings together nations across Eurasia, should be a platform for building confidence, advancing economic ties and securing peace at a time of global turbulence.Further, the Prime Minister acknowledged and extended India's support to the upcoming initiatives by the SCO bloc, hailing the emerging Global South. "It is a matter of happiness that the SCO is evolving with the changing needs of the times. Four new centres are being set up to tackle challenges such as organised crime, drug trafficking, cyber security. We welcome this reform oriented mindset," Modi said.Taking India at the global stage, Modi informed his SCO counterparts and the world at large about India's growth story- and its road to development moving ahead. "Today, India is moving ahead following the mantra of Reform, Perform and Transform... We have tried to turn every challenge into an opportunity... I invite all of you to be a part of India's development journey."Also read: Russia-India-China troika takes centre stage as PM Modi meets Putin, Xi Jinping at SCO Summit 'Pahalgam massacre not just attack on India'The Prime Minister also pointed to India’s experience in countering terrorism, citing the April 22 Pahalgam massacre in Jammu and Kashmir. “India has taken the lead in the fight against terror outfits like Al-Qaeda and its associates, and we oppose any kind of terror-financing. We have recently seen the brutal Pahalgam terror attack. I thank all the friendly nations who stood with us....” he said.Pahalgam strike was not only attack on India, but it was open challenge to countries, people believing in humanity, he added. His remarks came in the presence of Pakistan’s Prime Minister Shehbaz Sharif, at a forum where both countries sit as member states.Modi didn't mince his words. From India's decades old fight against terrorism to the deadly Pahalgam attack, he spoke ferociously on why it is important for the world to take note. This marked a rare moment, as the message, which appeared to be directed towards Pakistan, took aim at its state head, Sharif. Also read: PM Modi calls out ‘certain nations’ for supporting terror, with Pakistan PM Shebaz Sharif present, says ‘double standards won’t do’ "India has been bearing the brunt of the terrorism for the last four decades. Recently, we saw the worst side of terrorism in Pahalgam. I express my gratitude to the friendly country that stood with us in this hour of grief," Modi said. The SCO summit marks the first such instance where Prime Minister Modi and Pakistan's Sharif have come together to share the same diplomatic stage, after a war broke out between New Delhi and Islamabad. India had accused and presented evidence that proved Pakistan-sponsored terrorism was behind the Pahalgam terror attack. Subsequently, India launched Operations Sindoor and Mahadev, to avenge the victims of the deadly massacre. In April this year, India also formally downgraded diplomatic ties with its notorious neighbour, suspending the Indus Waters Treaty among other actions. ‘No place for double standards’In China, Modi cautioned SCO members against selective approaches to extremism. He said India would continue to press for a common stand that leaves no room for ambiguity.“We must unanimously denounce terrorism,” the Prime Minister said, insisting that the fight could not succeed if countries applied different yardsticks.We have to say clearly and unanimously that no double standards are acceptable on terrorism, Modi told his counterparts."The SCO can be a guide for multilateralism and an inclusive world order. I am happy that a statement is being issued on this important subject. We are moving ahead with all our partners. I extend my best wishes to the President of Kyrgyzstan and my friend, Sadyr Japarov, for the next presidency of the SCO," Modi said in his concluding remarks.'Conversations with him are always insightful': PM Modi and Putin travel in same car after SCO Summit in Tianjin for bilateral talks Modi’s camaraderie with Putin, Xi Jinping Before the plenary session, Modi met and spoke with Russian President Vladimir Putin and Chinese President Xi Jinping. “Interactions in Tianjin continue! Exchanging perspectives with President Putin and President Xi during the SCO Summit,” he said, sharing pictures with the two leaders on X.Modi’s camaraderie with Putin was on display as the two leaders greeted each other with hugs and smiles. “Always a delight to meet President Putin!” Modi wrote in another post, alongside photos of the two leaders walking hand in hand towards Xi. The three were seen sharing light remarks before taking the family photo with other SCO members.Modi is now due to hold a bilateral meeting with Putin. Yesterday, the Prime Minister also held talks with President Xi on the sidelines of SCO, during which both leaders welcomed “the positive momentum and steady progress in bilateral relations” since their last meeting in Kazan at the BRICS Summit in October 2024. They reaffirmed that India and China were “development partners and not rivals,” and stressed the need for a stable relationship built on “mutual respect, mutual interest and mutual sensitivity” as part of shaping a multipolar Asia and multipolar world.