The Bajajs, Munjals and Mahindras have for long been automobile billionaires. But the list is rapidly expanding.
A booming automobile industry has created four new billionaire promoters in last twenty months and a fifth businessman is likely to join the league when Varroc Engineering lists next week. Based on the value of shareholding, promoters of tyre makers MRF and Balkrishna Industries and component makers Minda Industries and Endurance Technologies are now worth over $1 billion (Rs 68.50 billion). Traditionally, promoters of original equipment manufacturing companies (vehicle ...
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