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Maruti Suzuki today launched its much awaited new Epic Swift 2024, its fourth-generation avatar in India today at Rs 6.49 lakh (ex-showroom). At the launch event, the company said that the new model of the Swift was designed and developed with an investment of Rs 1,450 crore. The new Swift will also be available at an all-inclusive monthly subscription. The new Swift will be available in nine colors, and in two different transmission, automatic and manual. The company claims that the new uplift variant will be 10% more fuel efficient for the manual variant, and 14% more fuel efficient in the automatic variant.Over the past two decades, the Swift hatchback has sold over 6.5 million units worldwide in 169 countries.Takeuchi noted that the entry-level segment continues to be a high volume vertical accounting for around 28 per cent of the overall domestic passenger vehicle sales."For us to maintain our leadership position, it is important to cater to diverse customer segments. The hatchback segment in India continues to be a high-volume segment, accounting for approximately 28 per cent of total passenger vehicle sales," Takeuchi said.Interestingly, the premium hatchback segment contributes nearly 60 per cent of total hatchback sales, he noted."As a market leader, we took the responsibility to re-energise the hatchback segment at a time when this segment really needs a catalyst for growth," Takeuchi said.This includes investment in tools and dyes for the vehicle as well as the new and more environment-friendly Z-Series engine, he added. The model would be manufactured at Suzuki Motor Gujarat, from where it will serve customers in India as well as in overseas markets, Takeuchi said. Maruti Suzuki Swift 2024: Pricing and CompetitionMaruti Swift has been priced at Rs 6.49 lakh (ex-showroom, check variant-wise price list below). The company also announced that the car would be available on subscription at Rs 17,436 per month. The subscription cost includes vehicle registration, maintenance, insurance and road side assistance. 109973368Maruti Suzuki Swift 2024: Design and FeaturesThe fourth-gen Swift retains its distinctive identity while incorporating evolutionary design elements compared to its predecessor. Exterior changes include angular headlights, a revised grille, and updated tail lamps. Inside, the new Swift boasts a new dashboard layout, resembling recent Maruti Suzuki models. It will be equipped with a 9.0-inch SmartPlay Pro+ touchscreen infotainment system and updated switchgear for the automatic climate control system, offering a refreshed look.The new Swift will be available in nine colours including, in six mono-tone, and three dual tones.Maruti Suzuki has achieved a 12% reduction in emissions with the new 1.2-liter Z-Series petrol engine in the 2024 Swift, demonstrating the company's commitment to sustainability and innovation in the automotive industry.Maruti Suzuki Swift 2024: Trim Options and Transmission ChoicesFive Trim OptionsThe new Maruti Swift will be available in five trims: LXi, VXi, VXi(O), ZXi, and ZXi(O).AMT TransmissionAn AMT option will be available from the VXi trim onwards, providing customers with a choice of automatic transmission.Maruti Suzuki Swift 2024: Enhanced Safety FeaturesMaruti Suzuki is set to elevate safety standards with the new-gen Swift by offering 6 airbags as standard across the entire range. Additionally, all seats will now feature 3-point seat belts, ensuring a safer driving experience for occupants. 109973481Maruti Suzuki Swift 2024: Engine and PerformanceThe new Swift is expected to be powered by Suzuki’s new 1.2-litre, three-cylinder Z-Series naturally aspirated petrol engine, likely with mild hybrid technology for improved fuel efficiency. Both manual and automated manual transmission options are anticipated to be available.The new Swift also boasts of 10% higher fuel efficiency for the manual variant, while the whole automatic variant offers 14% improved fuel efficiency.New 1.2L Z-series petrol engine fuel efficiency revealed.MT: 24.8 kmplAMT: 24.75 kmpl 109966975Maruti Suzuki Swift 2024: Comparison with RivalsThe 2024 Swift is likely to face competition from micro-SUVs like Tata Punch and Hyundai Exter in terms of pricing. The Punch is priced between Rs 6.13 lakh and Rs 10.20 lakh (ex-showroom), while the Exter comes in the price range of Rs 6.13 lakh to Rs 10.28 lakh (ex-showroom).Maruti Suzuki Swift 2024: Sales and LegacyThe Maruti Suzuki Swift has been a best-seller, clocking sales of around 3 million units since its introduction in India. It has always been known for its incredible value-for-money package.Maruti Suzuki India had commenced pre-bookings of the fourth-generation Epic New Swift at an initial payment of ₹11,000. The company has not yet announced a certain launch date for its hatchback car, which it describes as "sporty and has a dynamic driving performance." The new Swift aims to blend its much-loved sporty DNA with modern expectations of environmental friendliness and low emissions.Maruti Suzuki recently raised the price of the Swift and some Grand Vitara variants, with the Swift seeing a price increase of up to Rs 25,000. However, this price hike hasn't deterred customers, as Maruti Suzuki's yearly sales volume has surpassed two million units, showing a significant increase in net profit for FY 2023–24. 109970310With its fourth-generation launch, the Maruti Suzuki Swift continues to be a strong contender in the hatchback segment, offering a blend of style, performance, and affordability.

Bengaluru-based insurtech start-up Go Digit General Insurance on Thursday announced that its IPO will open on May 15 and close on May 17. The issue comprises a fresh issue of shares worth Rs 1,125 crore and an offer for sale (OFS) of 54,766,392 shares, according to the draft prospectus.In the IPO, promoter Go Digit Infoworks and other existing shareholders are offloading stakes while star couple Virat Kohli and Anushka Sharma will remain investors.In 2020, cricketer Virat Kohli bought 266,667 shares of the company for Rs 2 crore while actress wife Anushka Sharma invested 50 lakh through a private placement.Ahead of the IPO, the promoter group including Canada-based Fairfax, Kamesh Goyal, Go Digit Infoworks and Oben Ventures, owned 83.31% stake in the company.Go Digit's IPO hit multiple hurdles over compliance issues, which delayed approval for the public offer. Sebi had returned the draft offer document twice as the regulator raised concerns over share issuance.Go Digit, which operates in the general insurance sector and counts Canadian billionaire Prem Watsa's Fairfax Group and A91 Partners among its backers, refiled its IPO papers with Sebi in March last year, which the regulator approved in March this year.The insurance firm plans to utilise the net proceeds towards augmenting its capital base and maintaining the solvency levels.In the nine-month period ending December 2023, Go Digit's net earned premium rose to Rs 5,115 crore vs Rs 3,767 crore in the corresponding period of the previous financial year. It reported a profit after tax of Rs 129 crore in the 9-month period vs Rs 10 crore in the first 9 months of FY23.ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities are the book-running lead managers for the IPO.As a digital full stack insurance company, Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.

Shares of gold financiers Muthoot Finance and Manappuram Finance were down between 8-9% on BSE after the Reserve Bank of India (RBI) sent the companies an advisory concerning cash disbursal of loans. Shares of Muthoot fell up to Rs 1,510 while Manappuram tumbled to Rs 165.15.RBI had reportedly asked NBFCs to strictly adhere to the Income Tax Act provision on cash disbursement of loans wherein no NBFC should disburse loan amount in excess of Rs 20,000 in cash.“Please refer to provisions of Section 269SS of Income Tax Act, 1961, which stipulates that no individual can receive more than 20,000 rupees as loan amount in cash,” the letter from the Central Bank stated."Consequently, no NBFC should disburse loan amounts in excess of 20,000 rupees in cash."ALSO READ | Hero MotoCorp shares surge 6% after Q4 results. Should you buy, sell or hold?Earlier in March, the central bank had also prohibited IIFL Finance from disbursing gold loans, for the violation of cash disbursal norms, among other issues.George Alexander of Muthoot Finance stated that the bank does not see the advisory as a challenge as they do not foresee any customer denying loan disbursement directly into their bank accounts.There will be no loss in the number of customers as the management is 100% confident that the central bank’s new norms will not impact Muthoot volumes, Alexander further stated.Recently, Muthoot Finance's microfinance arm, Belstar Microfinance, filed preliminary papers with capital markets regulator SEBI to raise Rs 1,300 crore through an initial public offering (IPO), while Manappuram’s subsidiary Asirvad Micro Finance also got a nod from SEBI to raise funds through an IPO in the last month.The shares of Manappuram have gained 45.5% in the last one year while Muthoot has increased by 48% in the same period.Also read: L&T shares fall 6% as brokerages cut target prices after Q4 results. Should you buy or sell?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)