Exchanges to suspend trading in Kingfisher, UB Engineering

In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE today announced suspension of trading in shares of Kingfisher Airlines  and another group firm, UB Engineering , from next month.

Besides, the entire promoter shareholding of these companies have been frozen with effect from today itself. The action follows non-compliance to a Listing Agreement clause relating to timely preparation and disclosure of financial results by a listed company for two consecutive quarters. The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.

In separate circulars, BSE and NSE said that the trading would be suspended in securities of Kingfisher and UB Engineering -- both parts of crisis-hit UB group headed by Vijay Mallya -- with effect from December 1.

The suspension follows Sebi guidelines with respect to Standard Operating Procedure (SOP) for suspension and revocation of trading of shares of listed entities for non-compliance of the Listing Agreement that a listed company needs to follow pursuant to its shares getting listed and traded on a stock exchange.

Shares of Kingfisher, once touted as most luxurious airline in India, are currently trading below Rs 2 apiece and its market capitalisation now stands at just about Rs 150 crore. At one point of time, before financial troubles began and led to its grounding in October 2012, the company carried a market valuation of close to Rs 10,000 crore.

For the year ended March 2013, the carrier saw its net loss widen to Rs 4,301.12 crore. During that period, the gross income stood at Rs 683.46 crore. A consortium of 17 banks has an outstanding debt of about Rs 6,521 crore from the now-grounded carrier and outside the consortium, there are some other loans also.

In Kingfisher, promoters have just 8.54 percent stake, while public holding stands very high at 91.46 percent. The non-promoter shareholders include more than two lakh small investors, over 6,000 HNIs, over 2000 NRIs and 13 FIIs, among others.

Along with Kingfisher and UB Engineering, NSE has also announced trading suspension for securities of Varun Industries Limited on account of non-compliance with Clause 41 of the Listing Agreement for two consecutive quarters, that is quarter ended March, 2014 and June, 2014.

"Accordingly, the entire promoter shareholding of Varun Industries Limited, UB Engineering Limited and Kingfisher Airlines Limited shall be freezed with effect from November 7, 2014 till further notice."

"In case, Varun Industries, UB Engineering and Kingfisher Airlines complies with respective requirement/s including payment of fines on or before November 25, 2014 (five days before the proposed date of suspension), the trading in securities of the said companies will not be suspended," NSE said.

In UB Engineering, which has a market cap of about Rs 14 crore, public holds 59.26 percent stake while promoter group controls 40.74 percent.

In case these companies fail to comply with the provisions of the Listing Agreement on or before November 25, 2014, then trading in their shares would be suspended from December 1 and the suspension will continue till such time the company complies including the payment of fine.

After 15 days of suspension, trading in the shares of non-compliant companies would be allowed on Trade for Trade basis in on the first trading day of every week for six months, NSE said. BSE has taken similar action against 21 companies, including Kingfisher and UB Engineering.

Others include Nilachal Refractories , Linkson International , Secure Earth Technologies , Ratan Glitter Industries , Bheema Cements , Arvind International , Elegant Floriculture & Agrotech India , Pretto Leather Industries , UT Ltd , Arihants Securities Ltd , Raghava Estates and Properties , Tutis Technologies , Valuemart Info Technologies , Ontrack Systems , A von Corporation , Birla Pacific Medspa , Best & Crompton Engineering , Varun Industries  and Maestros Mediline Systems .

Kingfisher Airlines is already facing a close regulatory scrutiny over suspected lapses in its accounting practices and the Corporate Affairs Ministry is looking into possible violations of Companies Act.

The airline, part of Vijay Mallya-led UB Group, has been grounded for over two years now after being bogged down by huge and mounting losses.

The carrier is yet to submit its annual financial results for the 2013-14 period to the stock exchanges. In a filing to the BSE on August 26, the carrier had said that steps were being taken to appoint directors in order to comply with provisions of the Companies Act, 2013 and listing agreement with the stock exchanges.

"Thereafter, steps will be taken towards publishing the audited results for the year ended March 31, 2014 and for the quarter ended June 30, 2014," it had said.

Back in May, Kingfisher had informed stock exchanges that "there are hardly any employees attending office and the company is currently operating with skeletal staff making it difficult to audit and publish the results in time."

As part of the recovery process, banks in February last year decided to sell a portion of the collateral with them, including shares of its group companies United Spirits Ltd and Mangalore Chemicals & Fertilizers Ltd, Mallya's Goa villa, Kingfisher House in Mumbai and the Kingfisher brand, which was valued at over Rs 4,000 crore at the time it was pledged.

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South India emerges as property hotspot

South India has pipped the north and west when it comes to commercial real estate. From January to September, almost 50 percent of new office space deals were struck in Chennai, Hyderabad and Bangalore. Thanks primarily to the IT/ITeS sector, commercial real estate in south india is building new blocks towards recovery. Nayantara Rai brings you the findings of the latest report by international property consultant CBRE.

Chennai recorded a 50 percent quarterly growth in the July-September period, with some of the bigger transactions involving properties like the Prestige Palladium in the heart of the city, the DLF IT SEZ, approximately 5 km from the airport; and along the city's upcoming it corridor in Sholin-Ganallur where a contract research firm scope international signed up 96,000 sqft

What's also noteworthy is the appreciation in rentals, rising by 25 percent Y-o-Y and 15 percent-plus Q-o-Q in IT SEZs in localities like Velachary, Perungudi and Poonamallee Road. A similar trend is panning out 20 km away from Chennai's city centre at the upcoming it corridor. CBRE concedes this is not sustainable.

Anshuman Magazine, CMD - South Asia, CB Richard Ellis, said: "This may not be sustainable but the fact is we do expect in some of the areas where the supply is limited and some improvement in demand happens there could be marginal increase in rentals."

With the end of the political crisis that had paralysed Hyderabad's property market, CBRE has observed a revival, albeit a gradual one from corporates, especially those from the IT sector and back-end offices for financial services. The action is not so much in the popular Banjara and Jubilee Hills, but in the established it corridor of HiTec city and Gachibowli, where rentals have been slowly inching up.

CBRE says Hyderabad has the potential to emerge as the preferred office destination of corporates. But for that, the city's cheaper and upcoming it corridor—comprising Kukatpally, Manikonda and Nana-Kramguda--have to remain competitive against Bangalore, Chennai and Pune.

India's IT capital Bangalore is still the country's largest office market. A few of large deals inked in the July-September quarter include Mercedes Benz and TCS in Whitefield; Bosch at Sarjapur Marthahalli in Outer Ring Road; Accenture at Mysore road and Wipro again at the Outer Ring Road. These are the future growth corridors identified by CBRE.

"The place to watch out is North Bangalore. We are seeing lot of activity, new special economic zones coming in, airport being in close vicinity, I think in next couple of years North Bangalore will see quite a bit of activity," Magazine said.

And prospects for Bangalore remain bright. In India's largest leasing transaction e-tailing giant Flipkart has signed on the dotted line for a 3 million square foot custom-built campus from local builder embassy. The deal is pegged at Rs 85/sqft. Accenture is believed to be on the lookout for another 1 million sqft.

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iYogi: Online subscription-based technical support service

Founded in 2007, iYogi acts as your computer's online doctor and its team of 5,000 manages close to 2.2 million devices remotely from their headquarters in Gurgaon.

Founded in 2007, iYogi acts as your computer's online doctor and its team of 5,000 manages close to 2.2 million devices remotely from their headquarters in Gurgaon.

Watch video for more…

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TRAI sets Nov 29 as deadline for porting out Loop customers

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

Telecom regulator TRAI has fixed midnight of November 29 as deadline for subscribers of Loop Mobile to shift to other networks while retaining their numbers by using the MNP facility.

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

The Telecom Regulatory Authority of India today directed Mobile Number Portability service provider "not to process the request for porting in respect of mobile telephone numbers belonging to Loop Mobile...as donor operator after 23:59:59 hours of 29th November".

It has also agreed to the demand of Loop Mobile of providing with bulk MNP codes to transfer its over 10 lakh customer base in Delhi before its licence expires on November 29. TRAI has allowed Loop Mobile to use an additional service provider code 'F' in addition to its existing code 'L' to enable it to generate more than 5 lakh codes at a time.

Telecom major Bharti Airtel  this week called off the deal to acquire business and assets of Mumbai-based Loop Mobile including subscribers for about Rs 700 crore, pending clearances by the Department of Telecom.

DoT estimates that Loop Mobile and its sister concern Loop Telecom owe about Rs 808 crore in spectrum and other charges to the government.

Bharti Airtel stock price

On November 07, 2014, Bharti Airtel closed at Rs 390.50, up Rs 5.20, or 1.35 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.

The company's trailing 12-month (TTM) EPS was at Rs 27.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 14.25. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.34.

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Exchanges to suspend trading in Kingfisher, UB Engineering

In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE today announced suspension of trading in shares of Kingfisher Airlines  and another group firm, UB Engineering , from next month.

Besides, the entire promoter shareholding of these companies have been frozen with effect from today itself. The action follows non-compliance to a Listing Agreement clause relating to timely preparation and disclosure of financial results by a listed company for two consecutive quarters. The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.

In separate circulars, BSE and NSE said that the trading would be suspended in securities of Kingfisher and UB Engineering -- both parts of crisis-hit UB group headed by Vijay Mallya -- with effect from December 1.

The suspension follows Sebi guidelines with respect to Standard Operating Procedure (SOP) for suspension and revocation of trading of shares of listed entities for non-compliance of the Listing Agreement that a listed company needs to follow pursuant to its shares getting listed and traded on a stock exchange.

Shares of Kingfisher, once touted as most luxurious airline in India, are currently trading below Rs 2 apiece and its market capitalisation now stands at just about Rs 150 crore. At one point of time, before financial troubles began and led to its grounding in October 2012, the company carried a market valuation of close to Rs 10,000 crore.

For the year ended March 2013, the carrier saw its net loss widen to Rs 4,301.12 crore. During that period, the gross income stood at Rs 683.46 crore. A consortium of 17 banks has an outstanding debt of about Rs 6,521 crore from the now-grounded carrier and outside the consortium, there are some other loans also.

In Kingfisher, promoters have just 8.54 percent stake, while public holding stands very high at 91.46 percent. The non-promoter shareholders include more than two lakh small investors, over 6,000 HNIs, over 2000 NRIs and 13 FIIs, among others.

Along with Kingfisher and UB Engineering, NSE has also announced trading suspension for securities of Varun Industries Limited on account of non-compliance with Clause 41 of the Listing Agreement for two consecutive quarters, that is quarter ended March, 2014 and June, 2014.

"Accordingly, the entire promoter shareholding of Varun Industries Limited, UB Engineering Limited and Kingfisher Airlines Limited shall be freezed with effect from November 7, 2014 till further notice."

"In case, Varun Industries, UB Engineering and Kingfisher Airlines complies with respective requirement/s including payment of fines on or before November 25, 2014 (five days before the proposed date of suspension), the trading in securities of the said companies will not be suspended," NSE said.

In UB Engineering, which has a market cap of about Rs 14 crore, public holds 59.26 percent stake while promoter group controls 40.74 percent.

In case these companies fail to comply with the provisions of the Listing Agreement on or before November 25, 2014, then trading in their shares would be suspended from December 1 and the suspension will continue till such time the company complies including the payment of fine.

After 15 days of suspension, trading in the shares of non-compliant companies would be allowed on Trade for Trade basis in on the first trading day of every week for six months, NSE said. BSE has taken similar action against 21 companies, including Kingfisher and UB Engineering.

Others include Nilachal Refractories , Linkson International , Secure Earth Technologies , Ratan Glitter Industries , Bheema Cements , Arvind International , Elegant Floriculture & Agrotech India , Pretto Leather Industries , UT Ltd , Arihants Securities Ltd , Raghava Estates and Properties , Tutis Technologies , Valuemart Info Technologies , Ontrack Systems , A von Corporation , Birla Pacific Medspa , Best & Crompton Engineering , Varun Industries  and Maestros Mediline Systems .

Kingfisher Airlines is already facing a close regulatory scrutiny over suspected lapses in its accounting practices and the Corporate Affairs Ministry is looking into possible violations of Companies Act.

The airline, part of Vijay Mallya-led UB Group, has been grounded for over two years now after being bogged down by huge and mounting losses.

The carrier is yet to submit its annual financial results for the 2013-14 period to the stock exchanges. In a filing to the BSE on August 26, the carrier had said that steps were being taken to appoint directors in order to comply with provisions of the Companies Act, 2013 and listing agreement with the stock exchanges.

"Thereafter, steps will be taken towards publishing the audited results for the year ended March 31, 2014 and for the quarter ended June 30, 2014," it had said.

Back in May, Kingfisher had informed stock exchanges that "there are hardly any employees attending office and the company is currently operating with skeletal staff making it difficult to audit and publish the results in time."

As part of the recovery process, banks in February last year decided to sell a portion of the collateral with them, including shares of its group companies United Spirits Ltd and Mangalore Chemicals & Fertilizers Ltd, Mallya's Goa villa, Kingfisher House in Mumbai and the Kingfisher brand, which was valued at over Rs 4,000 crore at the time it was pledged.

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South India emerges as property hotspot

South India has pipped the north and west when it comes to commercial real estate. From January to September, almost 50 percent of new office space deals were struck in Chennai, Hyderabad and Bangalore. Thanks primarily to the IT/ITeS sector, commercial real estate in south india is building new blocks towards recovery. Nayantara Rai brings you the findings of the latest report by international property consultant CBRE.

Chennai recorded a 50 percent quarterly growth in the July-September period, with some of the bigger transactions involving properties like the Prestige Palladium in the heart of the city, the DLF IT SEZ, approximately 5 km from the airport; and along the city's upcoming it corridor in Sholin-Ganallur where a contract research firm scope international signed up 96,000 sqft

What's also noteworthy is the appreciation in rentals, rising by 25 percent Y-o-Y and 15 percent-plus Q-o-Q in IT SEZs in localities like Velachary, Perungudi and Poonamallee Road. A similar trend is panning out 20 km away from Chennai's city centre at the upcoming it corridor. CBRE concedes this is not sustainable.

Anshuman Magazine, CMD - South Asia, CB Richard Ellis, said: "This may not be sustainable but the fact is we do expect in some of the areas where the supply is limited and some improvement in demand happens there could be marginal increase in rentals."

With the end of the political crisis that had paralysed Hyderabad's property market, CBRE has observed a revival, albeit a gradual one from corporates, especially those from the IT sector and back-end offices for financial services. The action is not so much in the popular Banjara and Jubilee Hills, but in the established it corridor of HiTec city and Gachibowli, where rentals have been slowly inching up.

CBRE says Hyderabad has the potential to emerge as the preferred office destination of corporates. But for that, the city's cheaper and upcoming it corridor—comprising Kukatpally, Manikonda and Nana-Kramguda--have to remain competitive against Bangalore, Chennai and Pune.

India's IT capital Bangalore is still the country's largest office market. A few of large deals inked in the July-September quarter include Mercedes Benz and TCS in Whitefield; Bosch at Sarjapur Marthahalli in Outer Ring Road; Accenture at Mysore road and Wipro again at the Outer Ring Road. These are the future growth corridors identified by CBRE.

"The place to watch out is North Bangalore. We are seeing lot of activity, new special economic zones coming in, airport being in close vicinity, I think in next couple of years North Bangalore will see quite a bit of activity," Magazine said.

And prospects for Bangalore remain bright. In India's largest leasing transaction e-tailing giant Flipkart has signed on the dotted line for a 3 million square foot custom-built campus from local builder embassy. The deal is pegged at Rs 85/sqft. Accenture is believed to be on the lookout for another 1 million sqft.

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Infosys senior executive accused of sexual harassment

The  Infosys board has come under fire after reports that women employees have accused a senior executive of sexual harassment charges.

The group of women also accused the board of trying to "hush up the matter."

The company management has commented on the charges and the spokesperson said, "We take every sexual harassment complaint very seriously and each case is thoroughly and expeditiously investigated. Swift and appropriate actions are taken in all such cases."

Infosys stock price

On November 07, 2014, at 11:13 hrs Infosys was quoting at Rs 4150.55, up Rs 24.55, or 0.60 percent. The 52-week high of the share was Rs 4175.00 and the 52-week low was Rs 2894.00.

The company's trailing 12-month (TTM) EPS was at Rs 203.80 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 20.37. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 5.66.

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Time ripe for US-based cos to invest in India: NRN Murthy

Murthy, who founded Infosys in 1981 with USD 1,150 and grew it into a market capitalisation of USD 38.6 billion, said that he expected the company to continue its upward trajectory.

Time ripe for US-based companies to invest in India.In fact, some of the largest projects that most Indian software companies are doing are in India.

NR Narayana Murthy

Founder member

Infosys

N R Narayana Murthy, the billionaire founder of Infosys, said Thursday that he expects robust growth ahead for India.

"I think there are opportunities outside India, as well as in India," he said. "In fact, some of the largest projects that most Indian software companies are doing are in India."

On CNBC's "Fast Money," Murthy expressed faith that Narendra Modi, India's new prime minister, would lead the country toward creating a more business-friendly climate.

"Till now we had coalition governments," he said. "But this time we have a government which has absolute majority in the parliament. He's also a man of action. He has enunciated a program called digital India where he wants to bring the power of Internet and broadband communications to the benefit of every Indian."

Read More: Investor goes from hedge fund manager to franchisee

Murthy said the time was ripe for US-based companies to invest in India.

"Therefore, I think this is the right time for American companies to add even more value to India," he said. "Already, we have almost every high-tech company there. We have GM. We have Ford. We have lots of American companies there, but we need even more of them because they bring a lot of value to our economy."

Murthy, who founded Infosys in 1981 with USD 1,150 and grew it into a market capitalization of USD 38.6 billion, said that he expected the company to continue its upward trajectory.

Read More: Who's not on the CNBC NEXT List?

 "There is opportunity in India as well opportunity outside of India because right from Day One, we leveraged the part of globalization which is all about sourcing capital from where it is cheapest, sourcing talent from where it is best available, producing where it is most cost-effecting and selling where the markets are without being constrained by national boundaries," he said. "That's how I define globalization, and my company was based on that principle."

Murthy was named No. 13 on the CNBC First 25 List of visionary leaders who shaped the world of business and finance since 1989, the year CNBC started.

Infosys stock price

On November 07, 2014, at 11:10 hrs Infosys was quoting at Rs 4149.45, up Rs 23.45, or 0.57 percent. The 52-week high of the share was Rs 4175.00 and the 52-week low was Rs 2894.00.

The company's trailing 12-month (TTM) EPS was at Rs 203.80 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 20.36. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 5.66.

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Ranbaxy loses Valcyte exclusivity: An analysis

Ranbaxy has informed the stock exchanges that the USFDA has revoked tentative approvals granted for generic versions of two drugs - AstraZeneca's heartburn drug Nexium & Roche's antiviral drug Valcyte.

Ranbaxy has first-to-file status, meaning eligibility for six months of generic sales exclusivity for both these drugs. However, the final approvals for these drugs were delayed because of the compliance issues at Ranbaxy's plants.

FDA has said that its original decisions granting tentative approvals were 'in error' because of the compliance status of the facilities referenced in the ANDAs at the time the tentative approvals were granted. As a consequence, in FDA's view, Ranbaxy has forfeited its eligibility for 180-day exclusivity for generic Valcyte.

The USFDA however, has not disclosed the reason for rescinding the tentative approvals. The agency told CNBC TV18 that FDA is prohibited by law from disclosing information about an unapproved application.

But does this mean all opportunities lost for Ranbaxy?

There are two parts to this.

Valcyte is a certainly a missed opportunity for Ranbaxy with the revocation of the tentative approval and a categoric mention of forfeiture of exclusivity. Valcyte is a USD 400 million drug, and analysts were anticipating Ranbaxy had an opportunity to earn USD 60-70 million in the exclusive sale period. This is now lost. It however means positive for other ANDA applicants like Dr Reddys Labs , Cipla, Endo, Aurobindo & Mylan, who have been waiting in line.

USFDA spokesperson told CNBC TV18 that this week ANDAs filed by Endo and Dr Reddys have been approved by the agency. This means Endo & Dr Reddys would be the first entrants, opening the US market for generic versions of valgancyclovir, a drug that lost patent protection in March 2014.

The second part of this story deals with the bigger opportunity of the USD 2.2 billion drug Nexium, which went off patent in May 2014. While tentative approval for this drug granted to Ranbaxy has being rescinded by the USFDA, the agency has not clarified if this exclusivity is also forfeited. This has opened a window of scepticism.

Some analysts say a revocation of temporary approval in turn means revocation of the exclusivity for Nexium as well. And if that is the case then, it will be big opportunity miss for Ranbaxy. It is anticipated that Ranbaxy could garner nearly USD 180 million in sales in the six months exclusivity period. These exclusive drug opportunities have been the pillar of hope for the troubled drug maker.

Remember, during the Q2 earnings call last month, Ranbaxy CEO Arun Sawhney had said that the company believes it retains exclusive rights to the launch of Nexium in the United States.

Ranbaxy, which is awaiting statutory approvals for a merger with country's biggest drug maker Sun Pharmaceuticals , has refrained from providing further clarity. The company just says it was disappointed with the development and was evaluating options to "preserve its rights."
However, some other analysts read it differently. They say the approval revocation, in Nexium's case, relates to procedural requirements.

Since, USFDA has banned Ranbaxy's only API facility at Toansa, the company has reportedly re-filed ANDA with a renewed API source for generic Nexium. Reports say that application is currently under review with the FDA.

HSBC Securities in a report said, "The tentative approval for old ANDA filing had anyway become immaterial and hence cancellation of that approval doesn't impact gNexium FTF status. In fact, we believe Ranbaxy is moving closer with approval of ANDA from new API source and hence remain positive on gNexium launch in few months."

But could that be a plausible explanation?

Four of Ranbaxy's Indian facilities have been banned by the USFDA. The company, in order to secure its opportunities, has in the past also sought for site transfers for other drugs. For example, atorvastatin and valsartan, among others. However, this is the first time that USFDA has sought to rescind a tentative approval, indicating a bigger issue at hand.

Interestingly, while not disclosing the reason for revocation of the approvals, the FDA in its statement to CNBC TV18 said, "In rare circumstances, FDA has rescinded a Tentative Approval."

Does Ranbaxy still hold exclusivity on Nexium? Could this mean there are more compliance issues at Ranbaxy's sites? Has the company been unsuccessful in seeking a site transfer for these drugs? Or more importantly, could the fine print at Consent Decree signed in 2012 be at play, one which demands more exclusivity forfeitures if remediation process is not satisfactory?

Shareholders would be keenly looking out for Ranbaxy to answers these questions.

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New airlines may soon be allowed to fly international

Network 18 learns that the Ministry of Civil Aviation has prepared a Cabinet note that advocates a change in the decade old "five-twenty" rule the governs overseas flying operations.

Start-up domestic airlines may soon be allowed to begin international operations within a year of their launch.

Network 18 learns that the Ministry of Civil Aviation has prepared a Cabinet note that advocates a change in the decade old "five-twenty" rule the governs overseas flying operations.

According to this rule air carriers need to be in operation for 5 years and have a fleet of at least 20 aircraft before getting permission to fly abroad. Ministry officials say there has been intense pressure from incumbent airlines to retain the rule in its current form without making too many changes.

Air India, IndiGo, GoAir, SpiceJet  and Jet Airways  are lobbying against dilution of present guidelines to ward off fresh competition on international routes.

If the norms are relaxed, startup airlines Vistara and AirAsia India will benefit. Vistara will be able to partner Singapore Airlines while AirAsia can feed into Malaysian parent AirAsia BHd's network to build their overseas connectivity. A decision is expected later this week.

SpiceJet stock price

On November 05, 2014, SpiceJet closed at Rs 15.91, up Rs 1.04, or 6.99 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.

The latest book value of the company is Rs -19.67 per share. At current value, the price-to-book value of the company was -0.81.

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Whirlpool wants to become market leader by 2017

Diwali 2014 has been a prosperous one for home appliance maker, and with green shoots reappearing in the Indian economy, the company wants to keep the good times going.

America's largest home appliance maker Whirlpool  is making all the right noises as it looks to regain market share in India. CNBC-TV18's Zahra Khan and Farah Bookwala Vhora report that armed with a strategy focusing on pushing volumes and developing innovative products, the company is confident it will be the market leader across categories by 2017.

Diwali 2014 has been a prosperous one for home appliance maker, and with green shoots reappearing in the Indian economy, the company wants to keep the good times going.

The company wants to hit a cumulative average growth rate of 25 percent over the next three years. This rate is vital, if it has to achieve its target of doubling its revenues from the current Rs 3,391 crore over that period.

Arvind Uppal, Chairman, Whirlpool India, said: "Our target is that by 2017, we want to achieve the number one position in home appliances industry in India. So we are sitting in the back end of 2014 and we have three years to get there... Roadmap is already there."

The going will not be a cakewalk for the company. Analysts say the consumer goods sector is not completely out of the woods, and a full-blown recovery may not set in before FY16-end. Also, Whirlpool faces stiff competition from both Asian brands like Samsung and LG, and homegrown retailers like Croma who have their own brands in the race. But Whirlpool is confident double-digit growth will be achieved. To this end, even acquisitions are not off the table, though it says current targets are a tad overpriced.

"We're always looking for acquisition opportunities, not only in India but everywhere in the world. And like all sensible businessmen we are looking for a good deal. We will be the first ones in the queue to buy something," Uppal said.

Retail consultancy Technopak says India's USD 13 billion white goods market has grown at 15 percent per annum over the last 5 years, and will continue at this rate till 2020. And Whirlpool says its strategy will help it not only recover lost ground in India, but even set the pace for this aggressive growth.

Whirlpool stock price

On November 05, 2014, Whirlpool of India. closed at Rs 535.30, up Rs 24.65, or 4.83 percent. The 52-week high of the share was Rs 542.90 and the 52-week low was Rs 153.55.

The company's trailing 12-month (TTM) EPS was at Rs 14.23 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 37.62. The latest book value of the company is Rs 58.33 per share. At current value, the price-to-book value of the company is 9.18.

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Infosys to hire 2,100 people in US

Infosys said on Thursday the hiring will include up to 300 management and technology graduates who will work across multiple technology domains including digital, big data, analytics and cloud.

Infosys  said it plans to hire over 2,100 people in the United States as the company works towards scaling up its global presence and boost key work areas like client relationship management and consulting.

Like most rivals, India's second biggest IT services provider gets the major chunk of its business from clients in the United States.

Infosys said on Thursday the hiring will include up to 300 management and technology graduates who will work across multiple technology domains including digital, big data, analytics and cloud.

Up to 180 graduates will be recruited into the Infosys consulting practice in the United States, the company said.

Infosys has been making a big push towards new age technology like cloud computing and digitization. Chief Executive Vishal Sikka, who is based in the United States, has said he wants to revive growth through automation and artificial intelligence as clients modernize their technologies.

Infosys stock price

On November 05, 2014, Infosys closed at Rs 4126.00, up Rs 41.50, or 1.02 percent. The 52-week high of the share was Rs 4154.35 and the 52-week low was Rs 2894.00.

The company's trailing 12-month (TTM) EPS was at Rs 203.80 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 20.25. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 5.63.

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Maruti to invest Rs 4,000cr in key areas over 2-3 years

Country's largest car maker Maruti Suzuki India is investing up to Rs 4,000 crore in the next 2-3 years in key areas like product development, R&D and marketing infrastructure, a senior MSIL official said today.

Country's largest car maker  Maruti Suzuki India is investing up to Rs 4,000 crore in the next 2-3 years in key areas like product development, R&D and marketing infrastructure, a senior MSIL official said today.

MSIL would also focus more on bringing out models with auto gear shift technology, going forward, executive director- engineering, CV Raman said.

"Currently Rs 4,000 crore worth of investments are going into research and development, product development and marketing infrastructure over period of two to three years (including the current year)," he said, on the sidelines of the launch of the company's new version of Alto K10 hatchback.

"We will be improving our R&D capability. We are setting up test labs and other facilities. Marketing infrastructure such as setting up stockyards will be created," Raman added.

The company is expected to come out with a SUV- XA Alpha- next year, he said. Replying to a query, Raman said as of now there are no plans to make diesel engines while Suzuki is working on various types of engines in diesel.

On the reports of crash test failure of Swift, Raman said the car meets all standards set by the Indian government.

"All MSIL as well as other vehicles comply with Indian regulations. As far as the Swift is concerned, the test is not mandatory in India. There is no regulation to pass that test," he said.

According to the Global NCAP, an umbrella body of consumer car safety testing bodies, crash tests of Nissan's Datsun GO and Maruti-Suzuki's Swift demonstrated a high risk of life-threatening injuries with both cars receiving zero-star safety rating for their adult occupant protection.

He asserted that the Global NCAP report will not have any impact on Swift sales. The production of auto gear shift models is being ramped up to meet the market demand, he said.

"Currently, roughly about 4,000 vehicles (are being produced) per month with AGS technology and going forward will ramp up this number. We feel that the two pedal technology is very relevant now. Obviously the auto gear models would increase the volume. Maybe in future we look at coming out with more models in AGS," he said.

Raman said the sales of diesel vehicles could go up as the price difference between petrol and diesel is narrowing.

Maruti Suzuki stock price

On November 05, 2014, at 11:13 hrs Maruti Suzuki India was quoting at Rs 3322.05, up Rs 36.45, or 1.11 percent. The 52-week high of the share was Rs 3349.00 and the 52-week low was Rs 1541.25.

The company's trailing 12-month (TTM) EPS was at Rs 102.82 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 32.31. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 4.78.

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Jet expands international services; boosts Gulf link

Private carrier Jet Airways  today expanded its international operations with launch of services to Vietnamese commercial hub, Ho Chi Minh City via Bangkok and additional flights to the Gulf.

The enhanced frequencies from Mumbai to Doha, Colombo and Bangkok will provide guests with the convenience of an additional service, Jet Airways said in a release.

The rollout of a third daily direct service from Mumbai to Bangkok will provide onward connectivity to Ho Chi Minh City from Thailand capital (Bangkok), it said.

The new afternoon service will make Jet the only Indian carrier to operate three flights a day from Mumbai to Bangkok's International Suvarnabhumi Airport as well as providing onward connections to Ho Chi Minh City from the Thai city, the private carrier said.

Passengers from Mumbai will now have the option of connecting to Ho Chi Minh City and to several destinations of their choice in ASEAN region while they transit over Bangkok, the airline said.

The addition of a second frequency from Mumbai to Doha will further strengthen Jet's growing international network and significantly enhance connectivity in the Gulf region, thus complementing the existing flights on the sector.

Doha is currently served by one flight each from Mumbai, Delhi and Kochi. The new flight on this high demand route will not only cater to the growing Indian expatriates but also boost tourism and trade and help in bringing in traffic to and from West Asia, the carrier said.

"Jet Airways is delighted to introduce these additional frequencies from Mumbai to Doha, Colombo and Bangkok that will afford its customers the convenience of seamless travel and unmatched flight options," Senior Vice-President (Commercial) Gaurang Shetty said.

With these new flights, Jet will become the first private airline in India to operate over 40 daily flights to multiple destinations in the Gulf, the release said.

Jet operates daily flights to Abu Dhabi, Bahrain, Dubai, Doha, Kuwait, Sharjah, Muscat, Jeddah and Riyadh, making it the largest operator between India and the Gulf.

Besides adding flights to Gulf, Jet has introduced a second direct service on the Mumbai-Colombo-Mumbai sector, providing onward connections to Dubai and Abu Dhabi to the Gulf, Bangkok, Singapore and Hong Kong in the Far East and to North America via Brussels and London Heathrow with direct and codeshare flights, it said

Jet Airways stock price

On November 05, 2014, at 11:14 hrs Jet Airways was quoting at Rs 246.70, up Rs 6.25, or 2.60 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.26.

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Ready to monetise 25-30 acres near Delhi airport: GMR Infra

Speaking to CNBC-TV18, Terdal said the company won't be immediately impacted by positive reforms but government's PPP initiatives will help stranded road and power projects. The company's joint venture with Philippines Airport will start making profits from this year and will add around Rs 110 crore in revenue.

GMR Infra is one of few infra companies which has managed to meaningfully pare down debt via its Asset Light – Asset Right Model. It has sold stake in a number of its assets and is now getting ready to monetise 25-30 acres of land around Delhi airport, says Madhu Terdal, GMR Infra, in an exclusive interview on CNBC-TV18.

Since the government has considered making changes to Land Act to boost private public partnership or PPP projects, the beleagured infrastructure sector has sprung back to life. GMR Infra , which has fallen over 11 percent YTD, is said to benefit if PPP is exempted from consent clause. The proposed changes to Land Act puts the onus of social and environmental study on to states.

Speaking to CNBC-TV18, Terdal said the company won't be immediately impacted by positive reforms but government's PPP initiatives will help stranded road and power projects. The company's joint venture with Philippines Airport will start making profits from this year and will add around Rs 110 crore in revenue.

GMR Infra stock price

On November 05, 2014, at 11:13 hrs GMR Infrastructure was quoting at Rs 22.80, up Rs 0.20, or 0.88 percent. The 52-week high of the share was Rs 38.30 and the 52-week low was Rs 17.20.

The company's trailing 12-month (TTM) EPS was at Rs 0.21 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 108.57. The latest book value of the company is Rs 16.76 per share. At current value, the price-to-book value of the company is 1.36.

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Making it Big: How Endurance Technologies was built

Take a look at the vision and strategy of how Endurance Technologies was built.

Some three decades ago, Anurang Jain blessed by his maternal uncle Rahul Bajaj set up Endurance Technologies to manufacture aluminium die-casting components for Bajaj Auto.

The company started off well but for factors beyond Jain's control it hit a rocky patch. One big mistake Anurang Jain realised he made was putting all his eggs into one basket. So to insulate his business he rejigged his strategy and that has paid him off, big time. Today Endurance Technologies is a Rs 4000 crore plus leading auto ancillary company.

Watch videos for full show.

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Storyboard: An exclusive preview of GoDaddy's latest TVC

On Noticeboard Storyboard is putting up the latest TVC from internet domain name registrar and web hosting company, GoDaddy. It's an entertaining film that's trying to sell an intangible product - to an audience which may not see the benefits of going online. Here's an exclusive preview of that.

On Noticeboard Storyboard is putting up the latest TVC from internet domain name registrar and web hosting company, GoDaddy. It's an entertaining film that's trying to sell an intangible product - to an audience which may not see the benefits of going online. Here's an exclusive preview of that.

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Storyboard: Zest's marketing strategy to attract consumers

Storyboard caught up with Tata Motors passenger vehicles marketing head, Delna Alvari to understand what the ROI on activations, especially an unusual innovation in print is.

With the launch of Zest in August this year, Tata Motors entered the fast growing compact sedan segment.

Zest is also the first car to be launched under Tata Motors' new strategy to turn around the company's weak domestic business. The marketing strategy was simple - generate buzz throughout the year and ensure that activations across all mediums drive footfalls and sales.

Storyboard caught up with Tata Motors passenger vehicles marketing head, Delna Alvari to understand what the ROI on activations, especially an unusual innovation in print is.

For full show watch video.

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Oct sales good; mkt share may rise to 23% by April: Bajaj

Rajiv Bajaj says festive season sales have been good, but not extraordinary. Total sales for October stood at 3.86 lakh units versus 3.99 lakh units m-o-m, with Discover 150cc sales at around 28,000 for the month.

Despite the overall or general weak auto sales data, Rajiv Bajaj, managing director of  Bajaj Auto is pleased that his company's motorcycle market share in the country rose to 20 percent. He expects the market share to rise to 23 percent by April.

He says festive season sales have been good, but not extraordinary. Total sales for October stood at 3.86 lakh units versus 3.99 lakh units month-on-month (m-o-m), with Discover 150cc sales at around 28,000 for the month. The company, however, saw a modest 33,000 motorcycles retailed on Dhanteras day, says Bajaj. Bajaj Auto's three-wheeler sales rose 33 percent at 49,094 units (y-o-y).

The company's exports rose 15 percent at 1.58 lakh units y-o-y. Bajaj Auto is looking at new launches in Platina and Pulsar.

Below is the verbatim transcript of Rajiv Bajaj's interview with Sonia Shenoy and Latha Venkatesh on CNBC-TV18.

Sonia: Could you just take us through what the sales numbers have been this month?

A: It has been a good month. Year-on-year (YoY) it has been a flat month; about 3,86,000 motorcycles and three wheelers. I think for us the highlight of this month is that domestic motorcycle market share has come back now into 20 percent. You would remember that it was typically at 18 percent and in July and August it had slipped further to 15 percent but that was more to do with our internal stock alignment. By September it was up to 17 percent and in October it is little over 20 percent, thanks I would say primarily to new Discover. So, from this point of view particularly it was a very good month for us.

Sonia: What were the exact Discover 150cc sales this month?

A: I would guess about 28,000.

Latha: What is the dealer inventory position at the moment?

A: The dealer inventory position is very comfortable because in September we started by carrying normal stocks which is four to five weeks. At the end of September, in anticipation of the season we had added about 40,000 numbers to that. In October we reduced that by 15,000 numbers. So, we are 10,000 lower than we were on September 1.

Stay tuned for more…

Bajaj Auto stock price

On November 03, 2014, at 11:11 hrs Bajaj Auto was quoting at Rs 2575.50, down Rs 33.55, or 1.29 percent. The 52-week high of the share was Rs 2621.85 and the 52-week low was Rs 1796.00.

The company's trailing 12-month (TTM) EPS was at Rs 103.65 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 24.85. The latest book value of the company is Rs 332.04 per share. At current value, the price-to-book value of the company is 7.76.

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Hopeful of further ATF cut; see improved revenues: SpiceJet

The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 4,987.7 per kilolitre, or 7.3 percent, to Rs 62,537.93 per kl, oil companies announced today.

Sanjiv Kapoor, COO,  SpiceJet is hopeful of further price cuts in the aviation turbine fuel (ATF) being passed through going forward. However, he says any price cut has been a welcome one and eases the costs pressures. The company sees an impact of Rs 320 crore from this cut.

According to him the ATF prices in India are still significantly high, 40-60 percent higher than rest of the world. Globally the prices have dropped 17 percent from June, whereas in India only 10 percent has been passed through so far.

The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 4,987.7 per kilolitre, or 7.3 percent, to Rs 62,537.93 per kl, oil companies announced today.

The slew of festive season discounts offered by the airlines has led to improved revenues, and the load factor too improved to 86% in September, said Kapoor.

Below is the transcript of Sanjiv Kapoor's interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy

Latha: Is it good news at least of ATF price cut or will you have to pass it on?

A: It is good news certainly for the airlines, aviation fuel prices in India have been above 40-60 percent higher than rest of the world, combination of both the base price and taxes. So certainly a 7 percent plus 3 percent reduction that was done earlier, total 10 percent reduction is fantastic for our cost situation which will give us relief.

However, if people are expecting that to be passed on to customers then we already have the lowest fares on average in the world and this is just relief for the airlines on the cost side which was much welcome and much needed.

SpiceJet stock price

On November 03, 2014, at 11:12 hrs SpiceJet was quoting at Rs 14.80, up Rs 0.87, or 6.25 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.

The latest book value of the company is Rs -19.67 per share. At current value, the price-to-book value of the company was -0.75.

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Doing well to be among 3 global IT service cos: TCS

TCS today ranks amongst one of the best companies with the way we partner with clients, said N Chandrasekharan.

If you really look at the growth rate as well as the absolute revenue that we add, we rank number one.

N Chandrasekaran

CEO & MD

TCS

On the sidelines of the  Tata Consultancy Services (TCS) New York Marathon, which saw a participation of around 50,000 runners, CEO and MD, N Chandrasekharan of the company spoke to CNBC-TV18's Menaka Doshi on the way forward.

It is the company's aim to be strategic partner to their customers. "TCS today ranks amongst one of the best companies with the way we partner with clients, he added.

Below is the trasnscript of that interview

Chandrasekharan: First of all what is more important is to continue to gain mindshare with our customers to be their strategic partners. I think we are doing very well. If you really look at the growth rate as well as the absolute revenue that we add, we rank number one. This is our incremental revenues every year so we seem to be doing things right now; we just have to keep on the momentum.

Q: But I am sure it is part of your ambition to be amongst the top three global IT service players in the world, how long will it take you to get there?

Chandrasekharan:  It is very difficult to predict a timeline but we are doing very well.

Q: Before your third term as CEO?

Chandrasekharan:  Let us see.

Q: The thing about size is it comes with its incumbent issues for instance you may rank sixth or seventh in terms of revenue but when it comes to people you rank number two at around 318,000, and IBM is the only one with a larger manpower than you are. Even Accenture whose revenues are much ahead of yours is far lower in terms of head counts. What is the main in terms of the quality of your growth, the quality of your revenue because you are sixth or seventh in revenue with the second largest workforce, is that efficient?

Chandrasekharan:  I would like to give you two perspectives. The first perspective is that the size of the workforce you have pretty much depends on the geography footprint from where you deliver the services. If your cost base of those locations is lower, that will also reflect in the overall revenue you see, so that has to be taken into account.

But specifically on the quality of revenues, I would say that TCS today ranks amongst one of the best companies with the way we partner with clients. We see the traction with clients, the kind of work we do. If you see the thought leadership engagements that we do, I think we get fair share of revenue.

Q: So are you saying that revenue per employee where you don't rank amongst the top 10 or profitability per employee where even a player like HCL Tech is ahead of you - these are not matrix that you treat important, these are not matrix that we should measure TCS by because they don't tell a very flattering story.

A: All these matrixes are important but you just have to see them in the overall perspective and they are important to the extent that you drive your business and grow your business in a manageable fashion. But at the same time you got to see the revenue per employee in the context of the locations in which you serve and we work with global customers and we want to have a fantastic foot print to be able to serve them in every market in which we operate and they operate.

TCS stock price

On November 03, 2014, at 11:10 hrs Tata Consultancy Services was quoting at Rs 2602.25, down Rs 2.3, or 0.09 percent. The 52-week high of the share was Rs 2834.00 and the 52-week low was Rs 1960.00.

The company's trailing 12-month (TTM) EPS was at Rs 99.52 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 26.15. The latest book value of the company is Rs 224.90 per share. At current value, the price-to-book value of the company is 11.57.

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VE Commercial Vehicles sales up marginally in October

The company, which is a 50:50 joint venture between Volvo Group and Eicher Motors, had sold 3,001 units in the same month last year.

Auto maker VE Commercial Vehicles today reported a marginal increase in total sales of its Eicher branded products at 3,052 units in October.

The company, which is a 50:50 joint venture between Volvo Group and Eicher Motors , had sold 3,001 units in the same month last year.

Domestic sales registered a decline of 5.42 per cent to 2,494 units in October this year as against 2,637 units in the same month year ago, VE Commercial Vehicles (VECV) said in a statement.

However, exports of Eicher trucks and buses grew by 53.29 per cent to 558 units last month as against 364 units in October 2013, it added.

Eicher Motors stock price

On October 31, 2014, Eicher Motors closed at Rs 12769.50, up Rs 222.05, or 1.77 percent. The 52-week high of the share was Rs 12837.60 and the 52-week low was Rs 3855.00.

The company's trailing 12-month (TTM) EPS was at Rs 158.68 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 80.47. The latest book value of the company is Rs 303.07 per share. At current value, the price-to-book value of the company is 42.13.

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Hyundai sales up 11.54% in October at 56,010 units

Commenting on the sales performance, HMIL Senior Vice President (Sales and Marketing) Rakesh Srivastava said there was increase in sales in additional and replacement buyers segment with demand led by new models like Elite i20, Xcent, coupled with festival buying.

Hyundai Motor India Ltd (HMIL) today reported 11.54 percent increase in total sales at 56,010 units in October 2014. The company had sold 50,212 units in the same month last year, it said in a statement. In the domestic market, Hyundai sold 38,010 units last month as compared to 36,002 units in October 2013, up 5.57 percent.

During the month, Hyundai's exports grew by 26.67 percent to 18,000 units as against 14,210 units in the same period last year. Commenting on the sales performance, HMIL Senior Vice President (Sales and Marketing) Rakesh Srivastava said there was increase in sales in additional and replacement buyers segment with demand led by new models like Elite i20, Xcent, coupled with festival buying.

"We anticipate that this positive momentum would build up further with increase in sales of entry buyers if there is strong promise of improvement in economic and macro factors in rural and urban markets," he added.
 

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Toyota Kirloskar sales down 12% in October

The company had sold 15,576 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

Toyota Kirloskar Motor today reported 11.94 percent decline in total sales at 13,716 units in October 2014.

The company had sold 15,576 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

In the domestic market, TKM sold 12,556 units in October 2014, down 4.6 per cent as compared to 13,162 units in October 2013. During the month, the company exported 1,160 units of Etios.

Commenting on the sales performance, TKM Senior Vice President (Sales and Marketing) N Raja said: "We have maintained the sales volumes as September, in the domestic market and hope to see growth in the next two months".

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Starting Nov 1, ATM use over 5 times/month will attract fee

Besides, the number of free transactions at ATMs (Automated Teller Machines) of non-home banks has been cut to three times a month from five times.

Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of Rs 20 per transaction from November 1.

As per the Reserve Bank of India's new guidelines that comes into force from November 1, bank customers in six metros-- Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore-- are allowed to withdraw money and/or carry out non-financial transactions like mini-statements at ATMs of banks, where they hold saving/current accounts, free of charge only five times a month.

Every transaction beyond this threshold will be charged Rs 20 per use.

Besides, the number of free transactions at ATMs (Automated Teller Machines) of non-home banks has been cut to three times a month from five times.

"Taking into account the high density of ATMs, bank branches and alternate modes of payment available to customers, the number of mandatory free ATM transactions for savings bank account customers at other banks' ATMs is reduced from the present 5 to 3 transactions per month (inclusive of both financial and non-financial transactions)," RBI had said in a notification issued in August this year.

The RBI, however, clarified that nothing precludes a bank from offering more than three free transactions at other bank ATMs to its account holders if it so desires.

The cap in the number of free ATM transactions will not apply on small/no-frills or basic savings bank deposit account holders who will continue to enjoy five free transactions.

At places other than the six metro centres, the facility of five free transactions for savings bank account customers will remain unchanged upon using other bank ATMs.

India has a total of 1.6 lakh bank ATMs across the country as of March 2014.

The new guidelines were issued in pursuance of a representation made to the RBI by Indian Banks' Association on the back of growing cost of ATM deployment and maintenance incurred by banks as well as rising interchange outgo due to free transactions.

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Bank of Baroda revises interest rates on term deposits

Bank of Baroda has revised its interest rates on term deposits up to Rs 1 crore. Interest on term deposits of one to three years by 15 bps. Rates on term deposits for 3-10 years have been cut by 30 basis points, the rates will be effective from November 1.

Bank of Baroda  has revised its interest rates on term deposits up to Rs 1 crore. Interest on term deposits of one to three years by 15 bps. Rates on term deposits for 3-10 years have been cut by 30 basis points, the rates will be effective from November 1.

Bank of Baroda stock price

On October 31, 2014, Bank Of Baroda closed at Rs 930.50, up Rs 18.15, or 1.99 percent. The 52-week high of the share was Rs 1009.00 and the 52-week low was Rs 509.00.

The company's trailing 12-month (TTM) EPS was at Rs 109.94 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 8.46. The latest book value of the company is Rs 835.56 per share. At current value, the price-to-book value of the company is 1.11.

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Maruti Suzuki October sales dip 1.1% to 1.04 lakh units

The company said its domestic sales rose by 1 percent during the month to 97,069 units as against 96,062 units in October, 2013.

Country's largest car-maker  Maruti Suzuki India (MSI) on Saturday reported a 1.1 percent decline in total sales in October at 1,03,973 units as against 1,05,087 units in the same month last year.

The company said its domestic sales rose by 1 percent during the month to 97,069 units as against 96,062 units in October, 2013.

Sales of mini segment cars, including M800, Alto, A-Star and WagonR, declined by 9.2 percent to 35,753 units compared to 39,379 units in the year-ago month, MSI said in a
statement.

The company said sales of the compact segment comprising Swift, Estilo, Ritz, Dzire declined by 3.5 percent to 37,083 units in October this year as against 38,410 units last year.

MSI said sales of its compact sedan Dzire Tour rose by 42.4 percent during the month under review at 1,408 units as against 989 units in October, 2013.

The sales of company's mid-sized sedan Ciaz, which was launched in October, stood at 6,345 units. The company had sold 262 units of SX4 sedan in the same period of 2013. There was no sale of premium sedan Kizashi during the month.

Sales of utility vehicles, including Gypsy, Grand Vitara and Ertiga, declined by 16.7 percent at 6,027 units in October this year from 7,236 units in the corresponding month
last year.

Sales of vans -- Omni and Eeco -- increased by 6.8 percent to 10,453 units in October this year, as against 9,786 units in the same period of previous year. Exports during the
month declined by 23.5 percent to 6,904 units compared to 9,025 units in October last year, MSI said.

Maruti Suzuki stock price

On October 31, 2014, Maruti Suzuki India closed at Rs 3338.35, up Rs 96.20, or 2.97 percent. The 52-week high of the share was Rs 3349.00 and the 52-week low was Rs 1541.25.

The company's trailing 12-month (TTM) EPS was at Rs 96.45 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 34.61. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 4.81.

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