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Android ATMs may soon be a reality: NCR India

Written By Unknown on Kamis, 16 April 2015 | 12.44

Technology innovator NCR India is set to revolutionize the way automatic teller machines, or ATMs work in India. CNBC-TV18'S Jude Sannith takes a peek at the latest developments from the company which will have ATM machines using an android operating system with cloud technology.

Technology innovator NCR India is set to revolutionize the way automatic teller machines, or ATMs work in India. CNBC-TV18's Jude Sannith takes a peek at the latest developments from the company which will have ATM machines using an Android operating system with Cloud technology.

Watch video for more....


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Deepak Fertilisers sells 5.2% stake in MCFL

Pune-based Deepak Fertilisers has been competing with industrialist Saroj Poddar-led Zuari group for taking control of the MCFL since July 2013. Deepak Fertilisers had offloaded 12.1 percent stake in MCFL on Monday.

Continuing its exit from the Vijay Mallya-led UB Group firm, Deepak Fertilisers  on Wednesday sold another 5.2 percent stake in Mangalore Chemicals and Fertilizers Ltd  for over Rs 53 crore.

Pune-based Deepak Fertilisers has been competing with industrialist Saroj Poddar-led Zuari group for taking control of the MCFL since July 2013. Deepak Fertilisers had offloaded 12.1 percent stake in MCFL on Monday.

According to the bulk deal information with stock exchanges today, it sold 61.41 lakh shares (representing 5.2 percent stake) of MCFL. The company held MCFL shares through its subsidiary SCM Soilfert Ltd. Individually, Deepak Fertilisers sold 40.91 lakh shares on the NSE and 20.50 lakh on the BSE.

The company's shares were sold at an average price of Rs 87.04 apiece, valuing the transaction at Rs 53.45 crore. At the end of December quarter, 2014, SCM Soilfert held 3.44 crore shares in MCFL, representing 29.05 percent stake in the company. In January, it had sold 2.2 percent stake in MCFL.

The move follows Zuari Group's announcing the launch of its open offer on April 20 to acquire additional a 36.56 percent stake in MCFL. As of December 2014, Zuari had 16.47 percent stake in MCFL.

Deepak Fert stock price

On April 16, 2015, at 11:14 hrs Deepak Fertilizers and Petrochemicals Coprn was quoting at Rs 149.20, up Rs 0.95, or 0.64 percent. The 52-week high of the share was Rs 185.05 and the 52-week low was Rs 116.30.


The company's trailing 12-month (TTM) EPS was at Rs 16.16 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 9.23. The latest book value of the company is Rs 169.05 per share. At current value, the price-to-book value of the company is 0.88.


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Glaucus report baseless; no merit in it: Rolta India

The research report said the company does not produce free cash flow and cannot repay offshore bondholders without refinancing and advised investors to sell the company's bonds due 2018 and 2019.

A report from Glaucus Research indicated that  Rolta India fabricated its reported capital expenditures in order to mask materially overstated EBITDA.

The research report said the company does not produce free cash flow and cannot repay offshore bondholders without refinancing and advised investors to sell the company's bonds due 2018 and 2019.

Hiranya Ashar, Joint MD of International Operations & Group CFO, Rolta says the report is completely baseless and all the facts mentioned in the same are totally incorrect.

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

Latha: Did you read the Glaucus research blog and what have you got to say?

A: I did go through this report and this seems to be absolutely baseless report. The facts which are given in this report are not correct and also the way it has been compared is also not, the right comparison is apples to oranges. For us this report is completely baseless and as you said, coming from someone organisation which is not even heard of. So, we completely decline whatever is written in this report.

Latha: Did they reach out to you? What is the basis of whatever they have said? Have you spoken to them at all?

A: No. It has just come about less than hour ago. We have just gone through the report and have not been able to go through the report in totality. But, on the prima facie whatever they have written seems to be absolutely baseless.

Sonia: I am just going through the report at this point and they put a really serious allegation where they are saying that Rolta fell into a predictable pattern of acquiring computer systems and then disposing such systems at a loss. So, you disposed off about Rs 21 billion; that is close to USD 400 million of computer system and in exchange received only Rs 77 million. This resulted in wasted cash or cash loss exceeding more than USD 490 million. What would your own response be to this?

A: At the end, the same thing; the facts are not correct. First of all, these are computer systems and it has a life. So, a computer system after three or four years will certainly be sold. But what they have written is we have sold at a loss which is incorrect because what they are comparing is the original purchase price with the sell price but not the book value with the sell price and there is no loss which has been incurred. In fact if you see these some of these systems have been sold at a minor, very small loss and in fact sometimes even a profit because the book value is being completely depreciated. The facts are not correct.

Rolta stock price

On April 16, 2015, at 11:10 hrs Rolta India was quoting at Rs 156.40, down Rs 18.75, or 10.71 percent. The 52-week high of the share was Rs 196.80 and the 52-week low was Rs 72.40.


The company's trailing 12-month (TTM) EPS was at Rs 50.68 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 3.09. The latest book value of the company is Rs 122.95 per share. At current value, the price-to-book value of the company is 1.27.


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Cairn tax demand has created uncertainty: Patricia Hewitt

Written By Unknown on Rabu, 15 April 2015 | 12.44

UK companies have been watching the Indian policy space very keenly while companies in UK are waiting to invest in sectors like defence, insurance. The recent tax demand made on Cairn Energy under the retrospective tax clause has generated a lot of anxiety. Patricia Hewitt, Chair - UK India Business Council told CNBC-TV18 the companies headquartered are disappointed even after Arun Jaitley had assured them the retro tax clause would not be used.

Below is the verbatim transcript of Patricia Hewitt's interview with CNBC-TV18's Rituparna Bhuyan.

Q: What has the progress been on businesses getting permits?

A: Businesses are saying they are certainly getting permits much more easily. There are more areas where they actually don't need permits, but clearly translating the decisions that are being made here in Delhi right down to action at every level of the bureaucracy, every level within the states, all that still takes time.

Q: One sector which has benefitted hugely from this Make in India campaign is the defence sector. UK has a robust defence industry. Do you see investments from defence companies coming into India at a level that is 49 percent which the government allows at present or do you believe the companies will wait for some more time and see if the government increases that Foreign Direct Investment (FDI) level?

A: A company that is thinking about transferring really valuable intellectual property into any country is not going to do so for 49 percent and the Indian government has made it clear that for the right kind of technology transfer they will permit up to 100 percent. So, individual companies are looking at what those possibilities are. Clearly, there also need to be contracts here and that is very much a matter of discussion between governments in terms of where the next round of big defence contracts are going to be placed.

Q: More insurance companies could get interested in the Indian insurance sector?

A: That is very likely. I am certainly not going to be naming specific companies but there are others who are certainly looking at opportunities.

Q: So you know of specific companies who are looking at this?

A: Yes, I do.

Q: Do you see companies based in London or companies based in UK participating in this new idea of financial centres in India?

A: That is very likely and it is something the city of London and the Mayor for the city of London has been discussion these ideas with Mumbai of course. There have also been some discussions around the potential financial city in Gujarat that has been discussed when of course Mr Modi was Chief Minister there. So, there is certainly those discussions going on and as you say with the extraordinary expertise in the city of London is the financial capital relief for the world, I think there will be more of those discussions helping India to become a financial services hub for this part of the world.

Q: Indian Government will not pursue retrospective taxation. Yet we saw a tax demand being raised as far as Cairn India is concerned. Indian government defends that claim saying it is a legacy issue, how are US companies looking at this development?

A: As you said Finance Minister Jaitley has made it very clear both publically and privately in discussions with myself and others that there will be no new tax liabilities created by the Indian Government as a result of that retrospective tax legislation. We all very much regret the situation that has been created and the uncertainty that has been created in relation to – in some cases very old transactions that frankly were not liable for taxation until the last government created this retrospective tax amendment but each of those legacy cases is now being dealt with through the legal process. We saw Vodafone for instance, Shell other companies win their cases and of course the Government of India has decided not to appeal against those judgements. Personally I think it is a great pity that we are in the situation we are with Cairn which has been a huge investor into India particularly in the state of Rajasthan.


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Airtel Zero, as also similar services launched by Reliance

Airtel Zero, as also similar services launched by Reliance Communications and Facebook, among others, have come under attack with critics slamming these as being against the 'net neutrality' regime.

Airtel Zero, as also similar services launched by  Reliance Communications and Facebook, among others, have come under attack with critics slamming these as being against the 'net neutrality' regime. They claim that such schemes are aimed at restricting 'free' Internet access to select platforms. A government-appointed panel is looking into these concerns and is likely to submit its report next month while the matter is also being separately studied by the Telecom Regulatory Authority of India (TRAI), which has already got submissions from over one lakh netizens in support of net neutrality in India.

Free Internet advocates and start-ups see the move as a violation of net neutrality and one that could even "lead to monopolisation by a few and squeezing out of small companies".

Reliance Comm stock price

On April 15, 2015, at 11:12 hrs Reliance Communications was quoting at Rs 73.50, up Rs 0.50, or 0.68 percent. The 52-week high of the share was Rs 156.90 and the 52-week low was Rs 56.90.


The latest book value of the company is Rs 126.97 per share. At current value, the price-to-book value of the company was 0.58.


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Tata Motors makes Jaguar history in UK

Tata Motors  has made automotive history in Britain with the launch of Jaguar's newest model XE, an entry-level luxury saloon car, at its factory in the West Midlands region of England.

The factory at Solihull has traditionally been the home of sister brand Land Rover but the first Jaguar XE saloon rolled off the all-new production facilities at the plant this week.

The 500-million pounds "factory within a factory" consists of a new body shop and trim and final facilities. The Tata Group's investment in the unit represents the largest single investment in the Solihull plant in its 70-year history.

Jeremy Hicks, Jaguar Land Rover's UK managing director, hopes that in its first full year the XE would double Jaguar's present annual UK sales of 18,000.

"People who buy cars in this market stay very loyal. We are the new arrival in the playground and aiming to punch the three biggest kids on the nose," he said.

"The XE will bring the average age of the Jaguar driver down significantly. We are accessing young professionals who have historically defaulted to the German brands because they have had nowhere else to go," he added.

The XE, dubbed the 'Baby Jag' for its compact size, is not the only Jaguar that will be made at the new Solihull unit. The F-Pace, unveiled earlier this year, will also be built at the new unit from next year.

Jaguar Land Rover (JLR) was acquired by Tata Motors back in 2008 and has since seen a drastic turnaround in its profits.

In 2010, the Solihull plant, which started operations building aircraft engines during World War II, was in danger of closure.

Since then, 1-billion pound investment into the iconic brands from Tata Motors has led it to treble production to 240,000 vehicles and double the workforce in the suburb of Birmingham to 9,000.

The XE and F-Pace could take annual output up by a further 50 percent to 360,000, with manpower set to peak at 10,500.

JLR purchasing director Ian Harnett said: "Jaguar Land Rover is one of the UK's success stories, not simply because it has seen an upsurge in demand thanks to sustained investment, but because it has been able to support a burgeoning, high-tech, highly skilled supply base here in the UK.

"With each successive new or upgraded model, we are seeing the positive impact felt amongst the entire automotive sector which is great news for everyone committed to ensuring the UK remains truly competitive on a global stage.

Tata Motors stock price

On April 15, 2015, at 11:10 hrs Tata Motors was quoting at Rs 544.85, down Rs 11.05, or 1.99 percent. The 52-week high of the share was Rs 612.05 and the 52-week low was Rs 400.51.


The latest book value of the company is Rs 78.55 per share. At current value, the price-to-book value of the company was 6.94.


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Modi's Germany visit to open new avenues: Baba Kalyani

Written By Unknown on Selasa, 14 April 2015 | 12.44

In an interview to CNBC-TV18, Baba Kalyani of Bharat Forge, discusses what Prime Minister Narendra Modi's Germany visit means to India Inc.

Prime Minister Narendra Modi is expected to attend a community meeting in Berlin hosted by the Indian ambassador. Earlier in the day Modi laid out the red carpet for German investors, promising a "predictable, stable and competitive" tax regime as he pitched his 'Make in India' agenda. In an interview to CNBC-TV18, Baba Kalyani of Bharat Forge , discusses what the development means for India Inc.

Below is the transcript of Baba Kalyani interview with CNBC-TV18's Sanjay Suri.

Q: At the Hannover Messe we have had the political speeches. What could be their fallout for industry we will hear from Baba Kalyani.

A: I think it has been a perfect venue to communicate India's new aspirations, specially the whole "Make in India" programme. I think Prime Minister Modi has communicated this extremely well at the Hannover Messe to the German industry, to the German government, to the German politicians and of course to the Indian industry that is present here.

Q: Any indication of the fallout? Of course it is early days but any indication that you are seeing?

A: From whatever private discussions that I have had with a number of my friends in the Germany industry, they are impressed, they are motivated. Nobody is going to jump in and open the floodgates and I don't think that is desirable. However, I think everybody is going to start looking at India in a new and a different way. Everybody is going to start looking at which areas they could invest in whether it is infrastructure, power. There was a lot of discussion on power and infrastructure. The Germans very rightly believe that unless you have high quality and 100 percent power you really can't develop business. Unless you have good quality of infrastructure you really can't make business productive.

Q: What about defence production, that should be an area that you should tell us more about?

A: Defence production was not on the discussion table from a business to business area right now. I think that is going to be discussed from what I hear in Berlin at a government to government level and I think some policy decisions on this might come out after tomorrow after which I think Indian business will engage with the German counterparts who are engaged in defence.

Q: We have had the Rafale deal which we are told is an of the shelf sale, whatever that may mean, but will there be a fallout benefit for Indian industry from it?

A: The most positive part of that is somebody has started making decisions and I think that is what in India we were lacking, decisions were not being made. I think the Prime Minister has made the right decision. I think Indian Air Force needs fighter jets. Their inventory of aircrafts has depleted quite a lot. So, it is a good thing. Now is this going to be the end game in itself? No. This is the beginning of creating a large aeronautics industry in India and I think as some weeks and months go by we will hear the contours of what this will bring to industry.

Bharat Forge stock price

On April 13, 2015, Bharat Forge closed at Rs 1309.45, down Rs 22.55, or 1.69 percent. The 52-week high of the share was Rs 1362.90 and the 52-week low was Rs 401.25.


The company's trailing 12-month (TTM) EPS was at Rs 27.26 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 48.04. The latest book value of the company is Rs 115.67 per share. At current value, the price-to-book value of the company is 11.32.


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Ban on diesel vehicles: NGT stays order for two weeks

The green panel directed the Delhi government, and other government departments to submit scientifically-backed views by May 1, the next date of hearing.

Heeding to the plea of the Delhi government, the National Green Tribunal Monday stayed for two weeks its order to impound diesel vehicles, heavy or light, plying in the capital for more than 10 years. "There shall be no impounding of vehicles for two weeks. We make it clear that we are varying our order only for two weeks," a bench headed by NGT Chairperson Justice Swatanter Kumar said.

It also asked the city government to submit suggestions on providing incentives to those transferring/scrapping old, polluting diesel vehicles and on fixing a cap on the number of vehicles to be registered in the capital. The green bench also sought rationalisation of parking charges to encourage people to use parking facilities so that they do not not park on roads. The matter was mentioned before the Tribunal by Advocate Zubeida Begum, appearing for Delhi government, who told the bench that the government was finding it really difficult to implement the ban order.

Seeking more time to implement the order, she contended that essential services like vegetable supply and garbage carrying trucks etc. are being hit due to the order. The green panel directed the Delhi government, and other government departments to submit scientifically-backed views by May 1, the next date of hearing.

Noting that diesel is prime source of air pollution in Delhi, the Tribunal on April 7 had held that all diesel vehicles which are more than 10 years old will not be permitted to ply in Delhi- NCR.


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80% of acquired land will be used for irrigation: Gadkari

The Supreme Court on Tuesday sought the government's response on a plea of farmers' organisations challenging the legality of the fresh promulgation of the Land Acquisition Ordinance. The farmers' organisations, in their plea filed on April 9, have challenged the re-promulgated land ordinance, terming it as "unconstitutional" and ultra vires of the Constitution, besides being a "colourful exercise of power" by the executive to "usurp" the law-making powers of the legislature.

The man who leads the government charge against UPA's Land Bill says the Centre will not budge on changes to the bill. Union transport and shipping minister Nitin Gadkari spoke exclusively to CNBC-TV18's Shereen Bhan- saying the Centre will also challenge the green tribunal's order against old diesel vehicles plying in Delhi.

He also spoke about his ambitious plans to spruce up road projects that are stalled.

Below is the transcript of Nitin Gadkari's interview with CNBC-TV18's Shereen Bhan

Q: Let me start by asking you about news that hit the headlines today and that is the Supreme Court issuing a notice on the Land ordinance to the government asking why the ordinance was re-promulgated. The appeal has been made by Non Government Organisations (NGOs) representing four farmer unions in specific and they say that the re-promulgation and the proroguing of the Budget session amounts to a fraud in the Constitution. What is the government's response going to be?

A: First of all they have right to appeal in the Supreme Court. Now the stay is not granted Supreme Court asking the government reply for that, we will submit to the Supreme Court, that is not the problem. The problem is that before December 31 if we cannot get that Ordinance, otherwise the situation will be such that – even we won't be in position to give the 1:4, 1:2 compensation to the farmer because in the previous Act there was a provision that the last date for execution will be up December 31.

Q: But there is opposition including from your own allies. In the Lok Sabha you enjoy the majority, but you didn't table it in the Rajya Sabha, you chose to prorogue the Budget session and instead re-promulgate the ordinance. It raises question in people's minds as to the desperation for this government to clear this Ordinance?

A: Who is responsible for that when the bill is passed by parliament? Only in the Rajya Sabha, for two times, it is the Rajya Sabha opposition. When there was a discussion we were ready to cooperate with them. We are ready to accept their suggestion at the same time. They have decided they should not pass this bill in the Rajya Sabha. That was the reason we had to make an ordinance. It is because of the non cooperation of the officials in the Rajya Sabha. How are we responsible for that?

Q: Are you going to make changes as far as the two contentious issues, 9 amendments have been moved by your government in the bill that has been passed by the Lok Sabha but are you willing to make any concessions on the two controversial and crucial issues of consent and social impact assessment? That is what the opposition claims is the effort to sort of try and be pro-corporate. You yourself have stated on record that you are willing to take more suggestions onboard and make more amendments. Can we expect any dilution as far as consent and social impact assessment is concerned?

A: First of all you have to understand what is the meaning of consent clause. Eighty percent of the land in the country, its acquisition is only for irrigation. Now in irrigation if we have to make one dam, for 3000 acre the dam is there and for 3 lakh acres of land they get  water from it. Now this consent clause says 80 percent of the farmers, if they give the permission, we can make the dam.

Now suppose you have a house in the road construction and widening of the road is very essential. Present road sees a lot of accidents. So, in the public interest we have to increase the width of the road. If we have taken their land for the widening of the road, if 80 percent of people say no we will not give you any land, we cannot extend that road.

Suppose if anywhere we want to make low cost housing for the poor people and if 80 percent of people say no we will not give you land, it means that. What is the meaning you understand?

Q: Then you go back to the original law, the law that was attempting to be changed by the 2013 Act. The eminent domain then comes right back to where it was?

A: You are not correct. In the bill which is passed by UPA in parliament, almost their 13 Acts – Coal Mines Act, Mining Act, Railways Act everywhere there is an exemption from consent clause and social impact assessment (SIA).

I am asking you a simple question, to the opposition party particularly the Congress — in the Coal Mines Act you acquire the land and without any transparent process you allot coal mines to big industrialists of this country, CAG gave a report that this is a loss to the country of Rs 1 lakh 88 thousand crore and in the auction of 20 mines we get Rs 2 lakh crore. Now I am asking a question to the Congress, at the time when you acquired the land and gave coal mines to the big people you never remembered this consent clause and SIA?

Q: Any dilution at all possible as far as SIA and consent is concerned?

A: What is the meaning of consent clause? If you accept consent clause and SIA means you cannot start any industry.

Q: Your former ministry, the rural development ministry has apparently written to state governments saying under the Pradhan Mantri Gram Sadak Yojana because the World Bank is funding large parts of that scheme please make sure that whatever clearances you need, whether it is environment, forest, SIA, consent is adhered to. Why then that double standard? If it is okay for the World Bank, why should it not be okay for all the other projects that the government is hoping to tale forward?

A: There is no double standard. There are three subjects in the constitution. One is in the state list where state is authorised to make the law for that.

Second list is the centre list where the central government is responsible and authorised to make the law and third list is the concurrent list. Already the Land Acquisition Act is in the concurrent list. When the Congress party passed the bill the Prithviraj Chavan government in Maharashtra they took an exact decision opposite this law.

The Hooda ministry, it is a great miracle for me, the person who acquired lakhs of acres of land of farmers – the Chief Minister of Haryana now he is fighting against land acquisition.


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Existing home loan holders can convert to new rates: SBI

Written By Unknown on Senin, 13 April 2015 | 12.44

After private sector lender HDFC Ltd ,  State Bank of India over the weekend announced a cut in home loan interest rate by up to 0.25 percent for new borrowers. For women borrowers the rate has been aligned to the base rate at 9.85 percent per annum, SBI said in a statement.

But for other borrowers, the interest rate will be 9.90 percent, 5 basis points higher than the base rate or the minimum lending rate.

B Sriram, managing director and group executive national banking, SBI, says there is good news for existing home loan holders as well. They have the option of converting their existing loan rate to new rates for a small charge, he adds.

He expects the home loan portfolio to grow by 18 percent in FY16. According to him, competition in the home loan space has been rather intense.

Sriram says low-cost deposits are getting converted into term deposits.

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

Latha: I just wanted to ask you the old home loanees get 15 basis points knocked off and the new guys get 25 basis knocked off, is that right?

A: Yes that is right but the old home loanees also have the choice to convert their existing rates to current rates at a small charge of 0.56 percent.

Latha: What is your total home loan book as a percentage of the total book or even the size of your home loan book?

A: The size of the home loan book is about Rs 1,60,000 crore.

Latha: That makes you bigger than HDFC.

A: Yes, we are market leaders in that and we have close to about 26 percent market share.

Latha: Would this shave off something from your margins, would there be pressure in the current quarter – April-June quarter on net interest margins (NIMs) in general since this is not a small part, it is a fairly big part of your book?

A: What we are looking at is to try and grow volumes to try and make sure that whatever little margins are shaven off are made good by way of volumes. We had done about 14.5 percent last year and there was quite a good consumer demand in the last three to four months of the last year. We are hoping that the same trend continues into the New Year.

With some good figures on the Index of Industrial Production (IIP) also coming in and a lot of consumer demand also growing is what we are looking at, we are looking at about 18 percent growth this year and that would more than compensate for any income loss that we are looking at.

Sonia: This 18 percent growth will be in your home loan portfolio, is that your expectation for FY16?

A: That is right, what I am talking of is only the home loan portfolio. The 14.5 percent is also on the home loan portfolio.

Sonia: Will you be looking to revise your base rates further anytime soon and if yes by when?

A: At the moment we have just brought down the base rate by about 15 basis points. We have to continuously look at both the liability of the asset side of the book. These are discussions that happen continuously in our asset-liability committee (Alco). So, we will continuously watch the market and see as to how we go ahead.

Sonia: Now that your rates are the cheapest in the market and in the industry in any case there is no pre-payment penalty, do you see it become easier for State Bank of India (SBI) to takeover corporate and retail loans from other banks, something that you have been successful in doing in the recent past?

A: That is also a market that is available to us. However, that is a very small market to takeover. It is the new home loan that literally drives the market. 72 percent of our home loan book is what we call lower segment, less than Rs 30 lakh. Most of our portfolio is on first time buy so we are hopeful that the trend will continue and we should be looking at a continuous supply of new home loans rather than looking at the takeover business. However, takeover is also a part of it. 

Stay tuned for more..


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Air Pegasus begins commercial operations

Air Pegasus, promoted by Decor Aviation Private Limited, today commenced its commercial operation with a daily to and fro flight to Hubballi and Thiruvananthapuram from here.

"Commercial operation with daily flight to Hubballi and Thiruvananthapuram from Bengaluru has commenced from today," Air Pegasus Managing Director Shyson Thomas told reporters.

The company plans to have five ATR aircraft in South India by December and would increase it to 20. "We plan to have five ATRs in Southern region of the country and will increase it to twenty," Thomas said.

"Connecting to the country's IT capital, the newly  launched flights will boost the economies of these two towns, by simplifying the travel options for both in-bound and out- bound passengers," he said.

Civil Aviation Minister Ashok Gajapathi Raju launched the operations of Air Pegasus.  Decor Aviation, which is part of the Decor Group of Companies, will provide ground handling services to Indian andforeign carriers across eleven airports in India, Thomas said.

Based out of the Kempegowda International Airport in Bangalore, Air Pegasus will subsequently scale up its services gradually to connect Kochi, Chennai, Thiruvananthapuram, Belagavi, Rajahmundry, Puducherry and Madurai, Thomas said.

Decor Aviation, which is part of the Decor Group of Companies, provides ground handling services to Indian and  foreign carriers across 11 airports in India. Bangalore-based Air Pegasus, which recently acquired flying permit from aviation regulator Directorate General of Civil Aviation, is the third new airline to receive it from the DGCA, after AirAsia India and Vistara, in last one year.


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No sell-off in Coal India for next 6 mnths: Divestment Secy

Falling crude prices is one of the main reasons for the ONGC divestment getting delayed, Johri said

The government will fast track the approval process for divestment in select PSU bluechips, Disinvestment Secretary Aradhana Johri said in an interview to CNBC-TV18 Monday.

The government has set a divestment target of Rs 69,500 crore for this fiscal in the Budget, and Johri felt this was achievable as every single stock on offer were bluechips.

She does not see another disinvestment in Coal India  for at least the next six months.

Falling crude prices is one of the main reasons for the ONGC  divestment getting delayed, she said.

Johri said the Central Public Sector Enterprise (CPSE) exchange traded fund will be revamped so as to make it more investor friendly.

ONGC stock price

On April 13, 2015, at 11:12 hrs Oil and Natural Gas Corporation was quoting at Rs 311.15, up Rs 1.40, or 0.45 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 301.00.


The company's trailing 12-month (TTM) EPS was at Rs 21.84 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 14.25. The latest book value of the company is Rs 159.81 per share. At current value, the price-to-book value of the company is 1.95.


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Mobile clinic to detect kidney-related diseases

Written By Unknown on Minggu, 12 April 2015 | 12.44

The Rs 15 lakh mobile clinic 'Muthoot Anbin Nizhal' through Muthoot M George Foundation, was flagged off by City Mayor, P Rajkumar and will traverse the district, educating people about the dreaded disease.

As part of its Corporate Social Responsibility, Muthoot Finance Ltd , which claims to be India's largest gold loan company, on Saturday launched its health care outreach program, with a mobile van for detection of kidney related diseases, diabetes and hyper tension ailments.

The Rs 15 lakh mobile clinic 'Muthoot Anbin Nizhal' through Muthoot M George Foundation, was flagged off by City Mayor, P Rajkumar and will traverse the district, educating people about the dreaded disease.

George M Jacob, Director, Muthoot Finance,said the mobile ambulance will hold exclusive camps across the state, where blood sample of people will be taken and tested for possible kidney related diseases. 

At the end of the camp there would be an awareness session which will provide information about the prevention and treatment of the disease, he said. Later,talking to reporters,Babu John Malayil,Coordinator, Anbhin Nizhal, said a similar project has ben running successfully in Kerala for the last one year and the company has helped carry out 25,000 dialysis for the needy and poor.

Stating that the company, with a net profit of Rs 800 crore, has kept Rs 16 crore towards CSR, of which Rs two to three crore was being spent in the health sector, Malayil said at least three out of 100 persons screened thus were affected by kidney diseases, who were either helped by the company by providing free treatment or partially financed for hospital expenses. 

Muthoot Finance stock price

On April 10, 2015, Muthoot Finance closed at Rs 202.20, up Rs 2.60, or 1.30 percent. The 52-week high of the share was Rs 253.50 and the 52-week low was Rs 162.55.


The company's trailing 12-month (TTM) EPS was at Rs 17.24 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 11.73. The latest book value of the company is Rs 107.82 per share. At current value, the price-to-book value of the company is 1.88.


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TrulyMadly: A matchmaking app

India might still be a conservative market, dating apps are slowly gaining acceptance. A simple proof is Young Turk's first venture TrulyMadly. Sachin Bhatia joined hands with Rahul Kumar and Hitesh Dhingra to set up TrulyMadly.

India might still be a conservative market, dating apps are slowly gaining acceptance. A simple proof is Young Turk's first venture TrulyMadly. Sachin Bhatia joined hands with Rahul Kumar and Hitesh Dhingra to set up TrulyMadly.

Watch accompanying video for more...


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Airbus supports Modi's 'Make in India' initiative

In India, Airbus Group already operates two engineering centres - one focused on civil aviation and the other one defence - besides, a research and technology (R&T) centre which together employ over 400 highly qualified people.

Expressing support to 'Make in India' initiative, aircraft manufacturer Airbus on Saturday said it is ready to manufacture in India, as Prime Minister Narendra Modi visited its facility here.

Modi took the tour of the facility where planes are manufactured. He was given a briefing by officials on the functioning.

Airbus Group CEO Tom Enders, who received the Indian leader, said: "We are honoured to host Prime Minister Modi in Toulouse and convey to him our desire to forge a stronger industrial bond with India. India already takes a centre-stage role in our international activities and we want to even increase its contribution to our products".

"We support Prime Minister Modi's 'Make in India' call and we are ready to manufacture in India, for India and the world," he added.

In India, Airbus Group already operates two engineering centres - one focused on civil aviation and the other one defence - besides, a research and technology (R&T) centre which together employ over 400 highly qualified people.

The group's senior representative conveyed their decision to expand these centres so that they can take on comprehensive design responsibilities for future Airbus group programmes. 


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Nissan in top gear for Indian mkt; to launch 'The Leaf'

Written By Unknown on Sabtu, 11 April 2015 | 12.44

Nissan wants to electrify the Indian automobile market, quite literally. It has begun testing the waters for the potential launch of "The Leaf" - the world's first affordable, mass-produced, 100 percent electric & zero-emission car, which has clocked 160,000 units in sales in a short 5-year span.

Japanese automobile major Nissan is not wasting any time in taking advantage of the Indian government's policy to promote hybrid and electric vehicles. CNBC-TV18's Farah Bookwala Vhora reports that the car-maker is gearing up to bring its marquee electric vehicle "The Leaf" to Indian roads.

Nissan wants to electrify the Indian automobile market, quite literally. It has begun testing the waters for the potential launch of "The Leaf" - the world's first affordable, mass-produced, 100 percent electric & zero-emission car, which has clocked 160,000 units in sales in a short 5-year span. If all goes well, Nissan will become the first global Original Equipment Manufacturer to launch an all-electric vehicle in India.

Guillaume Sicard, president, Nissan India, says, "We have tested the leaf over the last 3 weeks now. we've tested the leaf with customers, with the press, with the government. We've shown the car to SIAM and what we hear now is extremely positive."

So Indian roads could soon see the world's highest-selling electric vehicle burning rubber. Sicard says this decision was spurred on by the government's new FAME policy- the Faster Adoption of Manufacturing of Electric Vehicles. But he adds that for the Leaf to make it here, three requisites have to be met.

He adds, "The first one is to have some customer subsidies. and just to benchmark with some countries in the world, in terms of subsidies per car, between 8,000-10,000 dollars. the second condition is we need to work with the government to implement infra and when I'm talking about infra, I'm talking about charging stations. And the third thing that is also a condition is to make sure the government and some administrations are showing the example to the rest of the country by getting some of the EVs."

Nissan says it will initially import The Leaf, even as it explores the possibility of local production over the next few years. Meanwhile, it has roped in IIT Madras to collaborate on improving battery performance from the current driving range of 135 km to 400 km.


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Quickr dives into aggressive expansion mode

The company is all set to dive deeper into four categories including real estate, jobs, services and cars. The company is now valued at USD 1 billion after a fresh round of fund infusion.

After having raised USD 150 million from its existing investors on Tuesday, online classified portal Quikr is now on an aggressive expansion mode.

The company is all set to dive deeper into four categories including real estate, jobs, services and cars. The company is now valued at USD 1 billion after a fresh round of fund infusion. Speaking exclusively to CNBC-TV18's Poornima Murali, Quikr says it does not rule out acquisitions in the future.

Pranay Chulet, Founder and CEO, Quikr, says: "As a Company, we are at a very interesting juncture. We have always been a technology and products-centric company. Our technical innovation is to focus on mobiles."


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E-commerce co Urban Ladder bets big on Mobile Automation

Indian e-commerce company Urban Ladder is on a funding raising spree. After having mopped up USD 50 million, Urban Ladder is betting big on technology platform, automation of supply chain and mobile platform.

Indian e-commerce company Urban Ladder is on a funding raising spree. After having mopped up USD 50 million, Urban Ladder is betting big on technology platform, automation of supply chain and mobile platform.


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See Rs 500-cr add-on orders from NHAI in FY16: ILFS Trans

Written By Unknown on Jumat, 10 April 2015 | 12.44

IL&FS Transportation  has bid for most National Highways Authority of India (NHAI) tenders in the last 2-3 months. The company's arm has raised 690 million yuan or Rs 692 crore in a bond sale in March.

In an interview to CNBC-TV18, Mukund Sapre, ED of IL&FS Transportation, said the company has been awarded around 3,000 km of road orders by NHAI in FY15 and has been expecting another Rs 5,000 crore worth of add-on orders in FY16. The company has also been eyeing to bid for the 13-km Zojila tunnel project in Kargil, Sapre said.

Below is the transcript of Mukund Sapre's interview with Latha Venkatesh and Sonia Shenoy on CNBC-TV18.

Latha: Can you start by telling us what are the tenders that have recently opened from the National Highways Authority of India (NHAI) and how is your own order book grown because of that? 

A: This year they have closed at around 3000 kilometers of roads which have been awarded. The only new change what has come into place is that I think this government as they have also given a major outlay over allocation for more money they are also bringing in engineering, procurement, construction (EPC) contracts and then build, operate, transfer (BOT) contracts. 

As IL&FS Transportation Networks Limited (ITNL) we are only active on the BOT scope as we outsource our construction and we don't participate in EPC. What we hear that there is going to be split of at least 65 percent coming on EPC and 35 percent on BOT. I think they are targeting fairly a large kilometer to be awarded in this year which is about 9000 kilometers. We do believe that they shall be in a position to award those things. 

One good thing is that if you see that if a lot of things are EPC, the rush for the BOT bids is going to be less. So, that pattern you could see in last two or three months when there was only three or four bids. So, we personally believe that there will be six or seven serious players in the BOT space and rest all will be back to the EPC space where they will try to rectify the balance sheets. So, we look for an window of 12-18 months where this is going to be a far more limited competition in BOT space and we believe that there will be a pick and choose chance and move forward on that. 

Also, there are two or three important things which this new setup is talking, you must have heard about the hybrid model. In fact the Finance Minister did talk of risk management or risk sharing to be relooked into. In that context there is talk and there have been a lot consultative process and one model they are talking is hybrid model where they are saying that 40 percent of grant will be given during construction and 60 percent will be you put in an annuity for that number. Total project cost will be the bidding parameter. 

So, if you historically look that the project has suffered or the sector has suffered because of variance of total project cost. In this process the total project cost is going to be the key number where the project is going to be awarded. So, all of us are going to be on the same wavelength and that would bring the bankers also back into the foray as there has been little bit struggle on financially closing the projects. So, all of us are gearing up for this. 

In terms of order we have around Rs 12,400 crore of job to be done. We added one acquisition of Rs 3200 crore; it is a tunnel - Srinagar Sonmarg Tunnel and we did one Railway Over Bridges (ROB) concessions, around Rs 3500. Ideally we would like to grow at around Rs 5000 crore of new add-ons for this year. We are very hopeful that this year definitely we will be targeting though we missed by around Rs 1500 and we did concentrate on implementation of whatever is in hand. Good thing is that whatever 27 projects, we will be completing by December 16, the whole portfolio excluding one which we acquired.

Sonia: You did say Rs 5000 crore of new add-ons in this year is what you are expecting. How many NHAI tenders have you bid for so far and what has the quantum been? 

A: As far as the bid which has been put was earlier to March and there were two or three bids we have put in but with zero success rate. What we have done is only a Rs 3200 crore project acquired. This acquisition was a little bit different because we just acquired after the financial results were awarded and one ROB. So, technically we have not added on last year anything.

However, we have one interesting project which is Zojila. There are only two or three bidders for it and that project itself is around 9000 kilometers, it is a 13 kilometers tunnel in Jammu and Kashmir (J&K), almost goes up to Kargil area. So, that bid is going to come in June and we are one of the shortlisted bidders for that. It is an annuity project and we are concentrating on these two or three important projects to see that we build our book in this coming year.

ILandFS Trans stock price

On April 10, 2015, at 11:08 hrs ILandFS Transportation Networks was quoting at Rs 195.20, up Rs 0.75, or 0.39 percent. The 52-week high of the share was Rs 257.00 and the 52-week low was Rs 128.35.


The company's trailing 12-month (TTM) EPS was at Rs 15.12 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 12.91. The latest book value of the company is Rs 107.38 per share. At current value, the price-to-book value of the company is 1.82.


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PayPal, Ebay to split into two separate public companies

After spending much of this year explaining why its two businesses are best left together, eBay's board of directors and CEO did a complete about-face Tuesday morning, announcing a plan under which its PayPal and eBay marketplace businesses will be split into separately traded public companies by the middle of next year. And CEO John Donahoe will step down as CEO of eBay once the split takes effect in 2015.

EBay shares jumped on the news, rising by more than 7 percent by midday. They were on pace for their best day since July 19, 2012, when they rose 8.6 percent. (Get the latest quote here.)

Donahoe began 2014 under pressure from activist investor Carl Icahn to split the company into its faster growing payments business, PayPal, and its legacy e-commerce marketplace, eBay. Donahoe and eBay's board successfully resisted those pleas in winning a proxy fight, but only months later during the company's annual strategic review, decided that a split in 2015 is now the right move to position each of those company's for the future.

Read More: Why Apple Pay will hurt PayPal

"What the proxy fight forced was me to come out and articulate our plan of record, our position at that moment, and that's what I did," Donahoe told CNBC, "As we've continued our annual assessment, looking forward three to five years about how we can best position eBay and PayPal, we think the competitive position and the competitive environment of commerce and payments are going through accelerating change. That creates new sets of opportunities and challenges for both eBay and PayPal and (we believe) that operating independently will give eBay and PayPal focused strategic flexibility and an ability to move quickly and decisively in this changing environment."

In a tweet, Icahn said he liked the announcement.

While Donahoe has spent much of 2014 extolling the benefits that eBay and PayPal derive from being part of one company, he now says those benefits are in decline."When you look forward, eBay will be less than 15 percent of Paypal's business three years from now and we can achieve many of the benefits of the synergies through arms-length commercial relationships." Donahoe told CNBC.

Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay when the split becomes final. EBay also announced that it has hired Dan Schulman, currently the president of the Enterprise Growth Group at American Express, to take over as PayPal's president immediately. Schulman will become PayPal's CEO once the split from eBay is complete.

Read More: Bitcoin gets greenlight from eBay's PayPal unit

While Donahoe expects to become a board member of both companies, his decision to no longer run either of them is a surprise. Donahoe says that by the middle of 2015 when the split is expected to become official, it will be time for him to step aside.

"I had a good role model named Meg Whitman. When Meg was CEO of eBay, she said she was going to do it for a decade. And she stepped down eight years ago in her early 50s and created opportunity for me, for which I'm enormously grateful. Next year will be my 10th year at eBay and I'll be creating opportunity for two great leaders to become CEO," Donahoe told CNBC in an interview.

While eBay's 180 degree turn is sure to be seen by some as placating a restless shareholder base and avoiding what could have been another bruising proxy fight, Donahoe says that is simply not true.

"Very consciously we didn't make a reactive decision in Q1 based on a short term event like a proxy fight because we have a long history of being thoughtful and deliberate of how do we set this business up to succeed over the long term. From the beginning, Pierre Omidyar, our founder, has a deep commitment to the long term. ... And this process has gone through what is the best way to help eBay and PayPal succeed over the long term. I feel confident this is the right direction and that's the reason we're pursuing it."


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To buy RBS unit; acquisition to be EPS-accretive: IndusInd

IndusInd Bank today entered into an agreement with Royal Bank of Scotland NV to acquire its diamond and jewellery financing business in India and related deposit portfolio, the lender said in a press release.

IndusInd Bank  today entered into an agreement with Royal Bank of Scotland NV to acquire its diamond and jewellery financing business in India and related deposit portfolio, the lender said in a press release.

"This is part of ABN AMRO Bank NV's diamond & jewellery clients [unit] that is housed in Royal Bank of Scotland NV acting through its Mumbai branch in India," IndusInd said. "The Royal Bank of Scotland NV diamond and jewellery financing loan book is approximately Rs 45 billion in size."

ABN AMRO was acquired by RBS in 2007.

Until ownership of the loans transfer to IndusInd Bank, day-to-day management of the loan portfolio will remain with Royal Bank of Scotland NV. Employees within Diamond and Jewellery Clients in India will also move to IndusInd Bank Ltd and will ensure seamless transition of the customer base.

IndusInd Bank specializes in the diamond and jewellery financing business and this acquisition will enhance its position, IndusInd said. "Several members of IndusInd Bank's senior management had been associated with this portfolio in RBS NV and prior to that in ABN AMRO Bank NV."

A critical success factor in diamond financing is global client knowledge and this is being achieved through a long term Partnership Agreement with ABN AMRO Bank NV, the acquiring bank said. "This strategic relationship will facilitate deeper industry and client insight and in turn lead to improved client servicing, enhanced revenue opportunities and better risk management."

The acquisition has a connection with the past. Before taking over as IndusInd chief, Ramesh Sobti was country head at ABN AMRO.

"We used to do this business in the erstwhile ABN AMRO," Sobti said in an interview with CNBC-TV18 in an interview. "At IndusInd also, we have built up a portfolio over the last four-five years. If you combine these two portfolios, it gives us a nice dominant position in the diamond business."

Below is the transcript of the interview on CNBC-TV18.

Latha: I believe it is Rs 4,500 crore business?

A: The business varied between Rs 4,500-5,000 crore odd. This is a business, as you would know, right after our hearts. We used to do this business in the erstwhile ABN AMRO. ABN AMRO had tremendous expertise in running this business.

At IndusInd also, we have built up a portfolio over the last four-five years. If you combine these two portfolios, it gives us a nice dominant position in the diamond business. Very profitable business, very well run, as you would know. ABN AMRO has excelled in running these businesses with very low delinquencies, so we are happy that this transaction has happened.

IndusInd Bank stock price

On April 10, 2015, at 11:10 hrs IndusInd Bank was quoting at Rs 947.55, up Rs 4.55, or 0.48 percent. The 52-week high of the share was Rs 959.00 and the 52-week low was Rs 472.00.


The company's trailing 12-month (TTM) EPS was at Rs 31.98 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 29.63. The latest book value of the company is Rs 170.55 per share. At current value, the price-to-book value of the company is 5.56.


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Seeing homebuyer interest but sale conversion slow: Realtor

Written By Unknown on Kamis, 09 April 2015 | 12.44

Even as real estate transactions have slowed down in the recent past, buyers have now been coming back, Ashiana Housing  MD Vishal Gupta said.

"Site visits are at an all-time high. Conversion, however, is slow but deals are happening," he told CNBC-TV18 in an interview, adding that realtors needed to "build users' confidence in the marketplace".

Sujay Kubele, Group CEO, Kolte-Patil Developers , too, seconded the view that users were coming back and said the recent interest rate cuts, while small, would set the pace for expectations for the future and further kickstart interest in the sector.

When asked by Nilesh Shah, CEO of Envision Cap (also doubling up as guest editor for CNBC-TV18), over how developers need to innovate, Kubele agreed that the sector needs to look at new ways to reach out to homebuyers. "We recently launched a midnight sale on our app that helped us do business worth Rs 54 crore," he said.

Shah, too, came in into the discussion, opining that the recent announcement of a real estate regulator was a long-term positive for the sector, but added that in the near term, it remained to be seen how effective it would be.

Below is the transcript of the interview of CNBC-TV18.

Sonia: Have things improved on the ground, not just for you because you of course have a big presence in Pune but overall?

Kalele: Definitely, I think things have improved. Just yesterday we got approval for a very big project after almost two years. So definitely things have improved on the ground. The pace is something that we want to see more, things have to improve at a faster pace but definitely things have started improving on the ground.

Latha: Since you are clearly representing the middle income housing group or catering to the middle income group, what is the sense you are getting, are people ready to sign cheques, are they asking at least, are requests increasing?

Gupta: Two things -- I think definitely the actual user is buying the properties. The investor is what has exited the market and I think a lot of pain has been felt by developers because actual user is far more concerned of what he is purchasing, he wants to see multiple options, he wants to show it to an expert, he wants to his friends and family to approve.

So there is delay is purchasing as far as an actual user is concerned. But having said that, deals are happening in the market, site visits are at an all time high but overall it is taking a lot more time for the conversion to happen. So we are seeing a slower sales offtake as of now.

Shah: Clearly what is it that is required to get demand up and running, you said that it is kind of still sluggish so what do you think could be the drivers which could materialise over the next few quarters or few years which could basically get demand back in a very strong and a robust manner?

Gupta: I don't have a complete solution but I do feel that getting the product right and the product right with the end user in mind is going to be a definite solution and as an overall industry we need to further build confidence in the market place that it is at the end of the day the largest investment any individual makes. So that he has more and more confidence on his investments.

Latha: We just saw 15 bps fall in lending rates by State Bank of India (SBI) but ICICI Bank which is a big lender is 25 bps lower, will that make a difference?

Kalele: It won't make a material difference but it sets in place the tone for what lies in the store. What we have seen in the last three-four years when the mortgage rates went up from 8-10.5-10.75 at the peak, it was not as if that people stop buying but what definitely put pressure on is how much price appreciation one can get so average price realisations. So it is same, when the mortgage realised rates will go down, definitely buying cycle will increase and 25 bps is a good start towards that.


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FAME launched to offer sops on hybrid, e-vehicles

FAME India - Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India - is a part of the National Electric Mobility Mission Plan. The scheme envisages Rs 795 crore support in the first two fiscals starting with the current year.

To promote eco-friendly vehicles, the government today formally launched the FAME India scheme offering incentives on electric and hybrid vehicles of up to Rs 29,000 for bikes and Rs 1.38 lakh for cars. FAME India - Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India - is a part of the National Electric Mobility Mission Plan. The scheme envisages Rs 795 crore support in the first two fiscals starting with the current year.

"We are starting the scheme in metropolitan cities. Eventually the scheme will be launched in Smart Cities and all major cities across the country," Union Heavy Industries Minister Anant Geete said. He said the heavy industries ministry has estimated a total requirement of about Rs 14,000 crore for the scheme.

Geete said the Phase-1 of the scheme will be implemented over a two year period in 2015-16 and 2016-17 with an approved outlay of Rs 795 crore, out of which Rs 500 crore will be spent on demand incentives. Elaborating how FAME would work out, he said: "The customer can get the incentive in the form of lower cost of hybrid or electric vehicles at the time of its purchase. Manufacturers can claim the incentive from the government at the end of each month." As per the scheme, depending on technology, battery operated scooters and motorcycles will be eligible to demand incentives ranging between Rs 1,800 to Rs 29,000.

Similarly in three-wheelers it is from Rs 3,300 and Rs 61,000. In four-wheelers, the incentives range from Rs 13,000 to Rs 1.38 lakh, while in light commercial vehicles it is from Rs 17,000 to Rs 1.87 lakh, and for buses it is from Rs 34 lakh to Rs 66 lakh.

"Keeping in view the limited domestic reserves of the conventional fuels and the rising demand in the automobile sector, it is a dire necessity to find alternative sources of energy for transport which are eco-friendly yet cost-effective," Geete said at the launch.

Exuding confidence that the move will help domestic manufacturers, Additional Secretary in the Heavy Industries Ministry Ambuj Sharma said: " Tata Motors is soon going to come out with a couple of offerings in the segment."  Maruti Suzuki is also ready with its Swift model with range extender technology, he said, adding many more models would come in future. Speaking on the occasion, Society of Indian Automobile Manufacturers (SIAM) Director General Vishnu Mathur said: "This a giant step torward cleaner mobility. This is a new generation technology, which India has started late and with this we are going to make a beginning." The FAME scheme will also help domestic manufacturers to develop and sell their vehicle here and export them, he added.

The government had approved an initial outlay of Rs 75 crore from Plan Fund for the FAME-India scheme in the Budget for this fiscal.

Maruti Suzuki stock price

On April 09, 2015, at 11:12 hrs Maruti Suzuki India was quoting at Rs 3652.00, up Rs 25.00, or 0.69 percent. The 52-week high of the share was Rs 3785.15 and the 52-week low was Rs 1867.00.


The company's trailing 12-month (TTM) EPS was at Rs 106.83 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 34.19. 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 5.26.


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Bigger contribution from scooter segment to continue: Honda

In an interview to CNBC-TV18, Yadvinder Guleria, Vice-President, Sales & Marketing at Honda Motorcycle and Scooter India, discusses the current trend and trajectory for the two-wheeler segment

Seeing acceptance for automotive scooter increasing in rural area

YS Guleria

VP (Sales & Mktg)

HMSI

March was a disappointing month for the auto sector, especially two-wheeler segment, on the back of poor rural demand. In an interview to CNBC-TV18, Yadvinder Guleria, Vice-President, Sales & Marketing at Honda Motorcycle and Scooter India, discusses the trend and trajectory for the segment.

Below is the transcript of Yadvinder Guleria's interview with Latha Venkatesh, Sonia Shenoy & Guest Editor Nilesh Shah on CNBC-TV18.

Sonia: March has been quite disappointing for the sector as a whole. What is the situation as far as rural growth is concerned how bad is it and will this slow down continue in the months of April and May?

A: First of all, the positive part for the industry is that first time the two-wheeler industry has grown over 16 million units in last FY15 so that is a positive sign. However, there was a concern in terms of the motorcycle segment didn't show any significant growth. Only two percent, you can say almost flat and primarily that is because of the flow down of the demand in the rural and sentiments not very positive. Especially the last two quarters in the motorcycle segment has gone down.

As far as Honda is concerned since we are catering majorly to the automatic scooter market that of our portfolio 60 percent of the sales are coming from the automatic scooters and we are the leaders in this segment. It is catering to mainly the urban and semi urban markets. What we foresee that this trend of the increased contribution from the scooters would continue in the years to come even in FY16 and so on. We are hopeful that even in this financial year FY16 the markets if not very high growth but it will be may be higher on a single digit but low double digit growth.

Nilesh: You mentioned that for scooter a demand has been far better than demand for motorcycles. What I want to understand is that is this just an India-Bharat syndrome, is this just an urban-rural syndrome or is there anything more to the difference in their growth rate between scooters and motorcycles? Is it also about changing demographics' and any things of that kind or is it just purely an urban-rural phenomenon? 

A: No, we wouldn't take it as an India-Bharat kind of syndrome. We have to view it in a very holistic manner because they were very tangible reasons of the scooter market going down when we talk almost about 15 years back. But then thereon and after Honda has entered into scooter market they has been a transformation which has happened in the scooter market first from two stroke to the four stroke giving higher mileage almost to the domain of the motorcycle that is 60 KM for a liter.

Then also technology advance, the styling and aerodynamics for the scooter, the appeal of the scooters. Yes, demographically also there are certain attributes like more working ladies coming into urban life and they also need individual movement, individual mobility needs. As well as the infrastructure improving in urban, semi-urban so all these factors combine together has led to the growth in the automatic scooters. 

We do see there is a positive trend of increased acceptance of automatic scooters even in the rural area. In terms of volume it may not be so significant at the moment but yes in future it is going to be one of the trends which has to be closely watched on.


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Targeting 10% total sales via e-auction route: Coal India

Written By Unknown on Rabu, 08 April 2015 | 12.44

The miner is confident of achieving production target of 550 mt for the current year. It also has a production target of 910 mt by 2019-2020.

Government allowed  Coal India to revert to the old system, removing the cap on e-auction volumes with effect from April 2015 which might boost the state-owned miner's bottom line going ahead.

Speaking to CNBC-TV18, Bipin K Saxena, Director-Marketing, CIL said the company is looking to sell more coal via the e-auction route. The company is expected to sell 50-55 million tonnes (mt) in FY16 and is targeting 10 percent total sales via e-auction route.

The miner is confident of achieving production target of 550 mt for the current year. It also has a production target of 910 mt by 2019-2020. The company got an average of 195 rakes per day in FY15 and is confident of getting over 230 rakes per day in FY16.  

Interview transcript to follow shortly 

Coal India stock price

On April 08, 2015, at 11:14 hrs Coal India was quoting at Rs 380.00, up Rs 20.60, or 5.73 percent. The 52-week high of the share was Rs 423.85 and the 52-week low was Rs 277.00.


The company's trailing 12-month (TTM) EPS was at Rs 6.97 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 54.52. The latest book value of the company is Rs 26.04 per share. At current value, the price-to-book value of the company is 14.59.


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Will hold margins in FY16 despite DMF contribution: NMDC

In an interview with CNBC-TV18 Latha Venkatesh and Sonia Shenoy, CMD Narendra Kothari said that may have to contribute about Rs 1000 crore to the DMF in this fiscal.

Despite the government, as part of the MMDR laws, asking miners to contribute to district mineral fund, over and above royalty that they pay, state-run NMDC  is confident of holding on to its margins as it expects higher volumes to offset higher costs.

In an interview with CNBC-TV18 Latha Venkatesh and Sonia Shenoy, CMD Narendra Kothari said that may have to contribute about Rs 1000 crore to the DMF in this fiscal.

NMDC had taken a 25-30 percent iron ore price cut in the last few months but added that on the western coast, prices were still higher than international prices, the CMD said.

Transcript to be updated.

NMDC stock price

On April 08, 2015, at 11:14 hrs NMDC was quoting at Rs 128.60, down Rs 1.3, or 1 percent. The 52-week high of the share was Rs 196.15 and the 52-week low was Rs 123.00.


The company's trailing 12-month (TTM) EPS was at Rs 17.75 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 7.25. The latest book value of the company is Rs 75.64 per share. At current value, the price-to-book value of the company is 1.70.


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Axis Bank cuts base rate by 0.20%

After two cuts in three months, the RBI kept the repo rate, at which the central bank lends to banks, unchanged at 7.5 percent on fears of unseasonal rains impacting food prices.

A day after major Indian banks cut lending rates, private sector lender Axis Bank  on Wednesday cut base rate by 0.20 percent to 9.95 percent.

Nudged and prodded by RBI, leading banks including SBI , ICICI  and HDFC Bank  on Tuesday cut their lending rates by 0.15-0.25 percent despite the status quo in policy rate of the central bank, which did some tough-talking on the need for commercial lenders to bring down rates.

After two cuts in three months, the RBI kept the repo rate, at which the central bank lends to banks, unchanged at 7.5 percent on fears of unseasonal rains impacting food prices.

The cash reserve ratio, which is the amount of deposits parked with the central bank, will remain at 4 percent. Bank rate has also been retained at 8.5 percent.

Axis Bank stock price

On April 08, 2015, at 11:14 hrs Axis Bank was quoting at Rs 555.00, down Rs 3.9, or 0.7 percent. The 52-week high of the share was Rs 655.35 and the 52-week low was Rs 270.68.


The company's trailing 12-month (TTM) EPS was at Rs 29.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 18.74. The latest book value of the company is Rs 161.25 per share. At current value, the price-to-book value of the company is 3.44.


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Hero working to extend fuel able tech to Splendor range

Written By Unknown on Selasa, 07 April 2015 | 12.44

The i3S technology helps bikes to automatically shut the engine when idling and turns it on, when needed, with a simple press of the clutch, giving more mileage in congested cities.

Country's largest two-wheeler maker Hero MotoCorp  is working to extend its fuel efficient i3S technology, which helped improve mileage of Splendor iSmart model, to other sub-brands under the Splendor range.

"As per the latest (March, 2015) Fuel Efficiency (FE) values, Splendor iSmart returned a mileage of 102.50 kilometer per litre," a Hero MotoCorp spokesperson said. The fuel efficiency of the Splendor iSmart model has been certified by the iCAT (International Centre for Automotive Technology), he added.

When asked if the new technology could be extended to other models, he did not comment. Industry sources, however, said, Hero MotoCorp is working on extending the i3S technology to some of the other models in the Splendor portfolio.

The i3S technology helps bikes to automatically shut the engine when idling and turns it on, when needed, with a simple press of the clutch, giving more mileage in congested cities.

Splendor iSmart has gained traction in the market gradually and has already clocked over 3 lakh units in cumulative sales since its launch just about a year back.

The Splendor portfolio continues to be the largest- selling motorcycle brand in the world, selling over 2 million units every year. Hero MotoCorp has recently added two new variants to the Splendor family the Splendor iSmart and its first cafe racer bike Splendor Pro Classic.

While the Splendor iSmart is available at Rs 50,000, the Splendor Pro Classic sells for Rs 50,500 (both prices ex-showroom Delhi).

The Splendor franchise includes other models such as Splendor +, Splendor Pro and Super Splendor (125cc), priced ex-showroom Delhi at Rs 45,500, Rs 46,650 and Rs 53,600 respectively.

For the financial year ended March 31, 2015, Hero MotoCorp sold 66,31,826 units, up 6.2 per cent from 62,45,960 units sold in 2013-14 fiscal. 

Hero Motocorp stock price

On April 07, 2015, at 11:12 hrs Hero Motocorp was quoting at Rs 2643.00, down Rs 28.8, or 1.08 percent. The 52-week high of the share was Rs 3271.80 and the 52-week low was Rs 2110.00.


The company's trailing 12-month (TTM) EPS was at Rs 123.37 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.42. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 9.42.


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Trent raises Rs 300 crore through NCDs

Last year, British retail giant Tesco announced forming of an equal joint venture with Trent by picking up 50 percent stake in Trent Hypermarket Ltd (THL) for about 85 million pounds.

Tata group firm  Trent Ltd on Monday raised Rs 300 crore through issuance of unsecured redeemable non-convertible debentures (NCDs) on private placement basis.

The proceeds of the issue will be primarily used to facilitate redemption of existing borrowings "The company has issued and allotted 3000 listed unsecured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each at par aggregating to Rs 300 crore on a private placement basis," Trent said in a BSE filing. The Tata Group's retail arm Trent operates 'Westside' stores along with 'Star Bazaar'.

Last year, British retail giant Tesco announced forming of an equal joint venture with Trent by picking up 50 percent stake in Trent Hypermarket Ltd (THL) for about 85 million pounds.

THL operates the Star Bazaar retail business in India. Tesco is the only global firm to have entered India after the government allowed 51 percent FDI in the applied for multi-brand retail segment.

Trent stock price

On April 07, 2015, at 11:10 hrs Trent was quoting at Rs 1475.00, down Rs 10.35, or 0.7 percent. The 52-week high of the share was Rs 1595.00 and the 52-week low was Rs 945.65.


The company's trailing 12-month (TTM) EPS was at Rs 34.17 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 43.17. The latest book value of the company is Rs 396.14 per share. At current value, the price-to-book value of the company is 3.72.


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Cairn India takes officials to court over $3.3bn tax demand

Cairn India received last month the demand of about 204 billion rupees from Indian tax authorities for an alleged failure to deduct withholding tax on capital gains made by its former parent, Cairn Energy Plc , during a reorganisation ahead of its market listing.

Cairn India Ltd , India's largest private-sector oil producer, said on Monday it had moved the Delhi High Court against a USD 3.3 billion tax demand from Indian authorities related to its listing in 2007.

The company, a unit of London-listed Vedanta Resources Plc , said it had filed a writ petition seeking "quashing/setting aside" of the order passed by the tax authorities.

Cairn India received last month the demand of about 204 billion rupees from Indian tax authorities for an alleged failure to deduct withholding tax on capital gains made by its former parent, Cairn Energy Plc , during a reorganisation ahead of its market listing.

Vedanta said last month it would file a notice of claim against the Indian government under the UK-India bilateral investment treaty.

Cairn Energy, which received a tax demand of more than USD 1.6 billion related to the same case, has also filed a notice of dispute under the bilateral investment treaty.

Cairn India shares had gained 0.3 percent in morning trade on Tuesday in a broader market that was up about 0.2 percent.

Cairn India stock price

On April 07, 2015, at 11:05 hrs Cairn India was quoting at Rs 220.30, down Rs 0.45, or 0.2 percent. The 52-week high of the share was Rs 385.00 and the 52-week low was Rs 209.30.


The company's trailing 12-month (TTM) EPS was at Rs 21.98 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 10.02. The latest book value of the company is Rs 206.66 per share. At current value, the price-to-book value of the company is 1.07.


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Exporter: India's unofficial brand ambassador

Written By Unknown on Senin, 06 April 2015 | 12.44

The growing tribes of exporters are acting as India's unofficial brand ambassadors. Therefore, as a tribute to exporters, CNBC-TV18 has partnered with State Bank of India to hold the Fifth International Trade Awards.

The growing tribes of exporters are acting as India's unofficial brand ambassadors. Therefore, as a tribute to exporters, CNBC-TV18 has partnered with  State Bank of India to hold the Fifth International Trade Awards.

The award is given to an exporter for an outstanding and consistent performance across several categories. 

For complete show, watch accompanying videos.

SBI stock price

On April 06, 2015, at 11:13 hrs State Bank of India was quoting at Rs 273.60, up Rs 0.15, or 0.05 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 186.74.


The company's trailing 12-month (TTM) EPS was at Rs 16.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.47. The latest book value of the company is Rs 158.43 per share. At current value, the price-to-book value of the company is 1.73.


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Rs 5000cr in the bag, NTPC may announce buyouts this qtr

With the power sector undergoing a churn -- several deleveraged power producers have been looking to sell assets -- state-run National Thermal Power Corporation has said it will deploy about Rs 5,000 crore and may announce acquisitions of a few power plants by the end of the current quarter.

With the power sector undergoing a churn -- several deleveraged power producers have been looking to sell assets -- state-run National Thermal Power Corporation  has said it will deploy about Rs 5,000 crore and may announce acquisitions of a few power plants by the end of the current quarter.

In an interview with CNBC-TV18, CMD Arup Roy Choudhury said the company had received a "huge response" for its inorganic growth plans.

Choudhury also commented on the company's allocation of five coal blocks, saying it hoped to start production in at least one mine (Pakri Barwadih) this fiscal.

In FY15, NTPC added about 700-1000 megawatts in capacity, lower than it had targeted due to issues with a Bihar project, but in FY17, the company is looking to up its capacity by 3000-4000 MW, the CMD added.

NTPC stock price

On April 06, 2015, at 11:10 hrs NTPC was quoting at Rs 148.30, up Rs 0.40, or 0.27 percent. The 52-week high of the share was Rs 168.80 and the 52-week low was Rs 113.60.


The company's trailing 12-month (TTM) EPS was at Rs 12.66 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 11.71. The latest book value of the company is Rs 104.08 per share. At current value, the price-to-book value of the company is 1.42.


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Bajaj Mar sales dip 18% to 2.5L; 'turned the bend', says MD

Bajaj Auto's disappointing run continued in March, with the company saying its overall sales fell 18 percent to 2.50 lakh, compared to March 2014. But in an interview, MD Rajiv Bajaj said that a slew of recent and upcoming launches at both the economy and premium segments would help regain market share.

Bajaj Auto's  disappointing run continued in March, with the company saying its overall sales fell 18 percent to 2.50 lakh, compared to March 2014.

During the month, the company sold 2.09 lakh two-wheelers (down 22 percent) and about 40,000 three-wheelers (up 21 percent), it informed exchanges today. The overall decline was exacerbated by exports -- part of the total sales number – falling 16 percent to nearly 99,000 units.

But in an interview with CNBC-TV18's Latha Venkatesh and Sonia Shenoy, MD Rajiv Bajaj said he was confident the company had "turned the bend" and that a slew of recent and upcoming launches at both the economy and premium segments would help regain market share.

The company's market share has come off a high of 24 percent to high teens but Bajaj said it was aiming to regain lost ground this quarter.

Bajaj recently launched two new bikes in the economy segment, the Platina ES and a refreshed CT100, and this has helped its entry-level motorcycles sales jump from 35,000 a month in January to about 60,000 in March, the MD said.

The company also has one launch every month this quarter in the sport segment, close on the heels of its recent Pulsar RS 200 launch.

Bajaj also added that, despite analyst concerns that the focus on cost-competitive entry-level motorcycles may erode its traditional margin strength, the company was aiming to hold on to its 20 percent EBITDA margin this year.

Following troubles in its key Egypt (lack of forex availability) and Nigerian (political turmoil) export markets, Bajaj said things were now coming back to normal.

Bajaj Auto stock price

On April 06, 2015, at 11:09 hrs Bajaj Auto was quoting at Rs 2001.35, down Rs 17.3, or 0.86 percent. The 52-week high of the share was Rs 2690.00 and the 52-week low was Rs 1900.00.


The company's trailing 12-month (TTM) EPS was at Rs 102.16 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 19.59. 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 6.03.


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Kyoorius' AM fest, Melt to be held on May 21 22

Written By Unknown on Minggu, 05 April 2015 | 12.44

Kyoorius announced the dates for its two day advertising, marketing and media festival Melt. Conceptualised in partnership with D&AD, Group M and Zee, Melt will be held on May 21st and 22nd in Mumbai and will host exhibitions, seminars and workshops for industry members.

Kyoorius announced the dates for its two day advertising, marketing and media festival Melt. Conceptualised in partnership with D&AD, Group M and Zee, Melt will be held on May 21st and 22nd in Mumbai and will host exhibitions, seminars and workshops for industry members. Watch accompanying video for more details.

Also watch the big winner of the 5th edition of the Olive Crown Awards. Hosted by the International Advertising Association or IAA, Olive Crown Awards recognise excellence in communicating sustainability or green advertising.


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Frrole: A social intelligence company

IIM Kozhikode graduate Amarpreet Kalkat came up with an idea to setup a social intelligence company in 2012. Frrole – a Bangalore based venture lets brands amplify engagement with customers over social media and is partnered with Twitter in India.

IIM Kozhikode graduate Amarpreet Kalkat came up with an idea to setup a social intelligence company in 2012. Frrole – a Bangalore based venture lets brands amplify engagement with customers over social media and is partnered with Twitter in India.

For more, watch accompanying video.


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Roposo: A fashion focused social network

Delhi based startup Roposo wants to become a network for fashion related micro blogging and aggregation. Take a look at how Roposo is making online shopping experience seamless.

Delhi based startup Roposo wants to become a network for fashion related micro blogging and aggregation. Take a look at how Roposo is making online shopping experience seamless.

For more, watch accompanying video.


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Diageo to buy Mallya's remaining 50% stake in African firm

Written By Unknown on Sabtu, 04 April 2015 | 12.44

Diageo has entered into an agreement to acquire the remaining 50 per cent share of United National Breweries (UNB) interest in the company, thereby making it a wholly owned subsidiary, the company said in a statement.

Diageo, the world's largest spirits maker today took full control of South African beer maker United National Breweries by acquiring the additional 50 percent stake in the company from Vijay Mallya-controlled Pestello Investments for an initial payment of USD 22 million.

Diageo has entered into an agreement to acquire the remaining 50 percent share of United National Breweries (UNB) interest in the company, thereby making it a wholly owned subsidiary, the company said in a statement.

"Diageo will acquire this further interest from Pestello Investments Inc for an initial payment of USD 22 million and a potential earn-out payment of up to USD 14 million," the statement added.

It further said that the transaction is 'conditional on consent from the South African competition authority', and it is expected to complete within the current fiscal.

Diageo, which is also a major producer of beer and wine and owner of popular brands such as Johnnie Walker, Guinness and Smirnoff had in January 2013 acquired 50 percent interest in UNB's traditional sorghum beer business in South Africa reportedly at USD 36 million.

In 1996 Mallya's UB Group had acquired 30 percent stake in UNB and later increased it to 100 percent.

In 2000, UNB had acquired beer business from Traditional Beer Investments (TBI), a subsidiary of South African Breweries.

According to Diageo: "Once completed, this transaction will give Diageo control of the leading traditional sorghum beer business in South Africa, including the ability to make investment decisions to support the continued growth of United National Breweries brands in the sorghum beer category." 


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Jet Airways to provide seamless tour to Berlin, Dusseldorf

The Mumbai-based full service carrier has entered into a code-share pact, which comes into effect from this month with second largest German carrier airberlin to offer these services.

Private carrier Jet Airways  on Thursday said its customers can now travel seamlessly to the German cities of Berlin and Dusseldorf via its overseas hub Abu Dhabi.

The Mumbai-based full service carrier has entered into a code-share pact, which comes into effect from this month with second largest German carrier airberlin to offer these services.

"We are pleased to commence our code-share partnership with airberlin, offering our guests convenient flight connections to Berlin and Dusseldorf via Abu Dhabi.

We are confident that these flights will prove to be popular amongst travellers between India and Germany, not only for business purposes but tourism as well," Jet Airways Chief Commercial Officer Raj Sivakumar said on Thursday.

Jet Airways, in which Gulf airline Etihad is a strategic investment partner with 24 per cent stake has now 21 code-share partners and over a 100 inter-line partners, the airline said in a release.

While code-sharing allows an airline to book passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence, an inter-line pact allows an airline to issue and accept tickets for flights that are operated by the partner airlines.

When selling an inter-line ticket, the operating airline's own flight numbers are used. Jet Airways operates 12 daily services to Abu Dhabi from 11 Indian cities. Under the pact, Jet Airways would place its code (9W) on airberlin's (AB) daily flights to Berlin (TXL) and Dusseldorf (DUS) from gateway point Abu Dhabi.

"We look forward to welcoming travellers from India on board of our airberlin flights from Abu Dhabi to the German capital Berlin and to Dusseldorf, the state capital of North Rhine-Westphalia, which is one of the most powerful economic regions in Germany.

"Our joint guests will benefit from smooth flight connections and our outstanding product which we are offering on the ground and in the air," airberlin's senior Vice-President for Alliances and Cooperation Stephan Nagel said. 

Jet Airways stock price

On April 01, 2015, Jet Airways closed at Rs 488.80, up Rs 0.70, or 0.14 percent. The 52-week high of the share was Rs 543.50 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 -2.49.


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Nissan India sales decline 32.91% in March

Nissan sells various models in the country, including hatchback Micra, sedan Sunny and premium SUV Terrano.

Japanese car maker Nissan on Thursday reported 32.91 percent decline in its India sales at 4,717 units in March. It had sold 7,031 units in the year-ago period, Nissan Motor India said in a statement.

Nissan sells various models in the country, including hatchback Micra, sedan Sunny and premium SUV Terrano.

However, for the entire 2014-15 fiscal ended March 31, Nissan reported 24.21 percent jump in sales at 47,474 units as against 38,220 units in FY 2013-14. Nissan said this is the highest ever volume achieved by it in India in any fiscal and the company is amongst the top 3 gainers in the auto industry here.

"FY'14 has been a significant year when we re-established our India business with an independent sales and marketing organisation.

The growth we achieved was supported by the launch of 2 new models and fastest growing network," Nissan India Operations President Guillaume Sicard said.

The company is targeting 5 percent market share by FY'20, he added. Nissan Motor India Managing Director Arun Malhotra said that 2014 saw a huge focus on sales and marketing activities.

"Our sales network grew to 176 outlets with 60 outlets added in FY14. We also launched a host of innovative integrated campaigns to bring our vehicles closer to our customers," Malhotra added. 


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Nissan India sales decline 32.91% in March

Written By Unknown on Jumat, 03 April 2015 | 12.44

Nissan sells various models in the country, including hatchback Micra, sedan Sunny and premium SUV Terrano.

Japanese car maker Nissan on Thursday reported 32.91 percent decline in its India sales at 4,717 units in March. It had sold 7,031 units in the year-ago period, Nissan Motor India said in a statement.

Nissan sells various models in the country, including hatchback Micra, sedan Sunny and premium SUV Terrano.

However, for the entire 2014-15 fiscal ended March 31, Nissan reported 24.21 percent jump in sales at 47,474 units as against 38,220 units in FY 2013-14. Nissan said this is the highest ever volume achieved by it in India in any fiscal and the company is amongst the top 3 gainers in the auto industry here.

"FY'14 has been a significant year when we re-established our India business with an independent sales and marketing organisation.

The growth we achieved was supported by the launch of 2 new models and fastest growing network," Nissan India Operations President Guillaume Sicard said.

The company is targeting 5 percent market share by FY'20, he added. Nissan Motor India Managing Director Arun Malhotra said that 2014 saw a huge focus on sales and marketing activities.

"Our sales network grew to 176 outlets with 60 outlets added in FY14. We also launched a host of innovative integrated campaigns to bring our vehicles closer to our customers," Malhotra added. 


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Jet Airways to provide seamless tour to Berlin, Dusseldorf

The Mumbai-based full service carrier has entered into a code-share pact, which comes into effect from this month with second largest German carrier airberlin to offer these services.

Private carrier Jet Airways  on Thursday said its customers can now travel seamlessly to the German cities of Berlin and Dusseldorf via its overseas hub Abu Dhabi.

The Mumbai-based full service carrier has entered into a code-share pact, which comes into effect from this month with second largest German carrier airberlin to offer these services.

"We are pleased to commence our code-share partnership with airberlin, offering our guests convenient flight connections to Berlin and Dusseldorf via Abu Dhabi.

We are confident that these flights will prove to be popular amongst travellers between India and Germany, not only for business purposes but tourism as well," Jet Airways Chief Commercial Officer Raj Sivakumar said on Thursday.

Jet Airways, in which Gulf airline Etihad is a strategic investment partner with 24 per cent stake has now 21 code-share partners and over a 100 inter-line partners, the airline said in a release.

While code-sharing allows an airline to book passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence, an inter-line pact allows an airline to issue and accept tickets for flights that are operated by the partner airlines.

When selling an inter-line ticket, the operating airline's own flight numbers are used. Jet Airways operates 12 daily services to Abu Dhabi from 11 Indian cities. Under the pact, Jet Airways would place its code (9W) on airberlin's (AB) daily flights to Berlin (TXL) and Dusseldorf (DUS) from gateway point Abu Dhabi.

"We look forward to welcoming travellers from India on board of our airberlin flights from Abu Dhabi to the German capital Berlin and to Dusseldorf, the state capital of North Rhine-Westphalia, which is one of the most powerful economic regions in Germany.

"Our joint guests will benefit from smooth flight connections and our outstanding product which we are offering on the ground and in the air," airberlin's senior Vice-President for Alliances and Cooperation Stephan Nagel said. 

Jet Airways stock price

On April 01, 2015, Jet Airways closed at Rs 488.80, up Rs 0.70, or 0.14 percent. The 52-week high of the share was Rs 543.50 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 -2.49.


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