Maruti Suzuki India April sales decline 11% to 86,196 units

 Summary :- Maruti Suzuki's domestic sales declined by 12.6% during the month to 79,119 units as against 90,523 units in April 2013.











Maruti Suzuki India , the country's largest carmaker, today reported 11.4 per cent decline in total sales in April to 86,196 units, against 97,302 units in the same month last year.


The company said its domestic sales declined by 12.6 per cent during the month to 79,119 units as against 90,523 units in April 2013.


Sales of mini segment cars, including M 800, Alto, A-Star and Wagon R, declined 25.4 per cent to 26,043 units as against 34,927 units in the year-ago month, MSI said in a statement.


The company said sales of the compact segment, comprising Swift, Estilo, Ritz, rose 9.9 per cent to 23,659 units in April this year as against 21,535 units last year.


Mid-sized sedan SX4 registered a decline of 87.4 per cent to 76 units as against 601 units in the same month last year. There was no sale of premium sedan Kizashi during the month.

Sales of utility vehicles, including Gypsy, Grand Vitara and Ertiga, declined 5.8 per cent to 5,011 units in April this year from 5,318 units in the corresponding month last year

Tanay Tapas
PGDM 1st year

A hung verdict biggest threat to India's ratings: Moody's

 

A fragmented government of smaller parties will be the "biggest threat" to the country's credit quality, according to international rating agency Moody's.

"History has often revealed election outcomes to be quite different from poll data, and parliamentary arithmetic has resulted in coalition governments for about the last two decades," the agency said in a note, adding that the Modi-led BJP is tipped to come to power according to many opinion polls.

"The biggest electoral threat to credit quality would be if a fragmented coalition of smaller parties without a common economic reform goals comes to power," it added.

The emergence of such a fragmented government can provoke further capital flight, push borrowing costs, weaken the rupee, delay economic recovery and make fiscal consolidation more difficult, Moody's said.

The markets have been joyously welcoming emergence of opinion polls showing a BJP victory over the past few months and rising in the expectation of a Modi government, even though the BJP has been opposing reform measures like FDI in organised retail.

"The BJP's economic platform has emphasised increasing infrastructure investment and the share of manufacturing in GDP, and its candidate for Prime Minister Narendra Modi has a record of investment-friendly policies in the state he governed," the Moody's note said.

Meanwhile, in some positive news for the country, the rating agency today said the country's vulnerability to a reduction in capital flows is limited due to low proportion of debt in foreign currencies and is also long term.

"While the country's debt is far larger than Indonesia's in GDP terms, the long maturity, which averages nine years, and the very low proportion denominated in foreign currency limits the country's vulnerability to a reduction in capital inflows," Moody's said.

It also acknowledged the measures taken by the country to fight the rapid depreciation in the rupee in the aftermath of the US Fed's announcement to taper its liquidity infusing asset buying programme.

vimal singh

pgdm 1st yr

Samsung Q1 net profit hits $7.3 billion

Samsung Electronics reported Tuesday its net profit had risen 5.9 % year-on-year in the first quarter to 7.57 trillion won ($7.3 billion) but operating profit declined for a second straight quarter on slowing smartphone revenue.
Alarm bells have been sounding for a while over Samsung's reliance on smartphone sales in mature markets such as Europe and the United States, and increasingly competitive emerging markets such as China.
The world's largest smartphone maker has a diverse product line ranging from memory chips to home appliances, but more than half its profits are generated by mobile devices.

This month saw the global roll-out of the latest version of its flagship Galaxy series smartphone, the S5, whose performance will be closely watched over the coming months.
While reviews have rated the S5 a top-class product, they note that it offers little in the way of real innovation that would set it apart from previous versions and models offered by competitors such as Apple.
Samsung made margin concessions with the S5, launching it at a slightly lower price than its predecessor the S4 and throwing in a premium software bundle estimated at more than $500.
The strategy appeared to have met with some success, as the net profit figure released on Tuesday beat most analyst estimates.
However, operating profit stood at 8.49 trillion won for the January-March period, down 3.3 % year on year and following a 6.0 % decline in the fourth quarter.
Overall sales in the first three months of the year inched up 1.53 % to 53.7 trillion won, but were down 2.5 % for the mobile business unit.
The firm's Seoul-listed shares were down 1.66 % in the morning, while the broader KOSPI market was 0.22 % lower.
Samsung on Tuesday acknowledged it was faced with a tough road ahead as demand would remain sluggish in the second quarter.
Expanding product line-up in China      
Kim Hyun-Joon, Samsung's senior vice president for the mobile business, said the market for smartphones and tablet computers would "grow slightly" in the second quarter.
"But we will try to continue solid earnings growth by expanding sales of Galaxy S5," Kim said.
The company was expecting sales of Galaxy S5 to beat its predecessor S4, he said, despite some scepticism from observers.
Samsung rarely discloses sales figures for its smartphones but J.K Shin -- the head of the firm's mobile unit -- said in October that S4 sales had reached 40 million globally since its release in April 2013.
Seoul-based Korea Investment & Securities recently estimated its worldwide tally stood at 57 million units.
But sales of the S5 will likely be limited to around 51 million, it said, while another researcher HMC Investment & Securities put the estimated figure at 44 million.
Samsung has expanded its presence in faster-growing emerging markets thanks to increasing sales in China and the Middle East, Kim said.

Sales of its mid- and low-priced models such as Galaxy Brand or Galaxy Ace also rose in the developing markets, he said.
"We plan to meet the growing demand by expanding product lineup for China's long-term evolution (4G) market that is expected to grow dramatically," Kim said.
Previously moribund sales of its tablet computers also rose to reach some 13 million units in the first quarter, he added. 
The company's bottom line was also boosted by a 22.8 % surge in memory chip sales from the first quarter of 2013 to 6.29 trillion won.
There is a general consensus that smartphone evolution has hit a barrier that will only allow incremental improvements on existing design and technology, rather than market-changing reinvention.
Samsung and South Korea's other export powerhouses are also feeling some strain from the strength of the Korean won.
Samsung said sharp currency swings cost it 700 billion won ($676 million) in lost revenue in the fourth quarter of 2013
                                         
                                    Mithilesh Chaubey
                                     PGDM 2sem

NEWS: B2B companies lacking video brand guidelines 

Sixty-eight per cent of B2B brands do not have video brand guidelines in place, revealed a new study published by B2B Marketing and ITN Products.
Only 26 per cent of B2B brands said they had video brand guidelines in place. Plus, a further six per cent admitted they didn’t know if they had active gudielines. 
This is despite video being voted as the number one type of content that will resonate with B2B target audience, after blogs and event content. 
Alex Aspinall, head of content at B2B Marketing, said: "An area in which marketers are potentially playing with fire when it comes to video is in ignoring the requirement to put into place definitive brand guidelines.
"Relatively few brands these days operate without social media guidelines or basic house style sheets for written copy, logo use and corporate colour palettes. But far more are failing to consider how these elements of their brand would work in video."

 RAJ KISHORE SHARMA

PGDM 2ND SEM

NEWS: Video makes brands stand out

This is followed by 'blogs' and 'long term writing'.
The research also revealed that 'video' is the most likely content type resonate with B2B target audience.
Simon Baker, head of corporate  and creative video at ITN Productions, said: “A key finding from our survey was that video was seen as the most compelling content types to resonate with a B2B audience, that’s over and above events, blogs, direct mail and press adverts.
“The main objectives marketers see video suited towards are building a brand and engaging audiences, this shows the movement towards speaking to our B2B audiences in the same way that B2C marketers target theirs. We see this driving a trend towards breaking down traditional barriers between ‘types’ of audience, and looking more at engaging content that speaks to ‘people,’ no matter if it’s B2B or B2C.”

 

HIMANSHU CHAUDHARY
PGDM 2ND SEM

Alstom accepts €10 billion GE bid for its energy unit

 

Paris/Frankfurt: The board of Alstom SA accepted General Electric Co’s (GE) €10 billion ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters.

 

Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG , which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer.

 

Alstom is expected to make a statement about the two offers early on Wednesday, before its shares, suspended since late last week, resume trading.

 

The rival bids have triggered a fierce national debate about the fate of power turbine and train manufacturing in France—both integral to the country’s engineering pedigree. The French government has said it favours the Siemens offer, which via an asset swap would create two European sector champions: Siemens in electricity and Alstom in trains.

 

“Alstom’s board has accepted the GE offer, it will be examined by an independent committee,” one source close to the talks told Reuters.

 

“The two groups will not enter into exclusive negotiations. This means Alstom cannot go and look for other offers, but there is nothing to stop it from examining offers it receives without soliciting them,” the source added.

 

Earlier on Tuesday, Germany’s Siemens said it would make an offer to Alstom if given four weeks to examine its books and draw up a detailed plan to rival a move by GE.

 

“The prerequisite is that Alstom agrees to give Siemens access to the company’s data room and permission to interview the management during a period of four weeks, to enable Siemens to carry out a suitable due diligence,” Siemens said.

 

It gave no further details of its plans, but at the weekend Siemens approached Alstom with a proposal to exchange part of its train business plus cash for Alstom’s power arm. In a short letter, it had outlined its proposal worth $14.5 billion.

 

French concerns

In a letter to French president Francois Hollande, published by financial daily Les Echos and authenticated by GE, GE chief executive Jeffrey Immelt responded to several of the French government’s key concerns about the US-based firm’s offer.

 

Immelt said that if GE were to buy Alstom’s energy unit, it would boost employment in France and locate global headquarters for several key businesses in the country, including for grids, hydro power, offshore wind and steam turbines.

 

GE would also work with the French government, utility EDF and nuclear group Areva to protect France’s strategic nuclear sector and its exports and would be willing to sell Alstom’s wind turbine activities to French investors.

 

GE also offered France a representative for its board, and offered to look into the possibility of a transportation joint-venture with the remaining transport activities of Alstom, which are widely considered to be too small to survive independently.

 

Defensive move

France’s Socialist government has declared that it must have a say in the outcome of the bidding war, as thousands of jobs are at stake and state-owned utility EDF and the national railways are major clients of Alstom.

 

“There aren’t only financial interests at stake in this matter; there are also industrial, social and human interests,” economy minister Arnaud Montebourg said after a meeting with unions. “The government does indeed intend to defend our country’s interests.”

 

RANJAY KUMAR,

PGDM 2nd SEM,

SOURCE-: MINT

 

LG Electronics Q1 beats estimates; tips stronger TV sales in Q2

LG Electronics Inc beat market expectations by reporting its strongest quarterly profit in nearly two years,  after strong sales of its high-end television sets boosted the South Korean manufacturer's bottom line.
LG, the world's second-largest TV maker, on Tuesday said sales of large-screen TVs combined with lower material costs to yield high returns in the first quarter, and that it expects TV revenue to increase in the second quarter.
The company is battling overall weak TV demand by ramping up production of high-end products such as ultra high-definition (UHD) TVs. A lack of UHD-quality content, however, is slowing the format's adoption, analysts said.

For January-March, LG reported a 44% on-year rise in operating profit to 504 billion won ($486.89 million) - the highest since the second quarter of 2012 and eclipsing the 279 billion won mean estimate of 37 analysts polled by Thomson Reuters.
Shares of LG Electronics, valued at $11.32 billion, were trading up 3.2% after the earnings announcement, versus a 0.3% in the wider market, following the stronger-than-expected earnings.
LG's TV division logged profit of 240 billion won, compared with a 11 billion won a year earlier, as a decline in panel prices and reduced marketing needs during a seasonally weak period kept costs down.
"Revenues (for the television business) are expected to increase in the second quarter with new model launches," the company said in a statement.
LG's mobile division ran an operating loss of 9 billion won, compared with a 133 billion won profit a year earlier, even as smartphone shipments grew by an annual 19% to 12.3 million units.
The company cited weaker domestic market conditions and continued decline in prices as reasons for the loss.
LG is widely expected to release the latest version of its flagship G smartphone series around the middle of the year, in its quest to mount a serious challenge to Apple Inc's iPhone and Samsung Electronic Co Ltd's Galaxy line.
The company said new product launches will help boost second-quarter revenue from the mobile phones business. ($1 = 1035.1500 Korean Won)

                Mithilesh Chaubey
                 PGDM 2sem

How to set your investment process right

 

 pros and cons of investing in both categories of investment options. For example, most traditional investment options offer guaranteed returns and safety of capital but the returns are not tax efficient. Similarly, market linked Today, investors have a number of investment options to choose from. While on the one hand there are traditional investment options like fixed deposits, bonds, debentures and small savings schemes, on the other there are market linked products like mutual funds, ULIPs, structured products and stocks. Needless to say, there are products provide investors with an opportunity to earn higher returns than traditional options but expose them to the risk of volatility. Market linked products also score over their traditional counterparts in terms of tax efficiency.

Therefore, the key to investment success is to choose the right options and invest in them in the right proportion. Some of the other key ingredients for achieving investment success are following a disciplined approach and having a defined time horizon. It is important for investors to understand that putting money aside for investment itself can go a long way in achieving their investment goals. Besides, by following a disciplined approach to investing, one can keep emotions out of one's investment process.

However, choosing the right investment options and adopting an ideal investment strategy can be quite challenging for investors.  They often face the dilemma of how to do this effectively. The anxieties arising out of uncertainties surrounding the financial markets too affect their decision making process.  

Investors will do well to know that investing is a simple process that requires planning, perseverance and time. While a professional investment advisor can help them in their planning process, they themselves have an important role to play in defining the time horizon and remaining committed to it.

If you one of those investors who is looking to set your investment process right, here's what you need to do:

Plan your investments  

Investing in a haphazard manner can put your hard earned money to risk and make you compromise on some of the most important investment goals of your life. Therefore, you must plan your investments as it would keep you disciplined and focused on your investment goals. Besides, a carefully designed asset allocation strategy and the process of rebalancing it from to time will ensure that you remain invested in originally selected asset classes at all times.  It will also help you in tackling bull and bear markets without letting the "greed and fear" factors affect your mindset. Remember, to benefit from power of compounding, you must begin investing as early as possible. Many of us do not even start our investment process either for the fear of choosing a wrong investment option or thinking that they we do not have enough money. Since investing is a continuous process, you can begin even if you don't have a lump sum amount to start with.  

Understand risk and reward

Every investment option has attendant risks. Therefore, you must maintain a balance between risk and reward. To ensure this, the key is not to underestimate risk and/or overestimate returns. In other words, you must understand the potential and the risks associated with different asset classes in your portfolio.  This helps in avoiding disappointments, and the consequent panic reactions that may derail your investment process.

Keep your focus on long-term goals

It is always challenging to achieve long-term goals as they require us to accumulate a large corpus and stay disciplined for longer periods. However, quite often we lose sight of our long-term goals when we spot an opportunity to earn some short term gains. For example, when the stock market turns turbulent, it can be quite tempting to pull money out of equities and invest it in debt instruments. However, more often than not, we fail to reinvest the money in the stock market and hence we lose out on attractive returns that equity offer over the longer term. Similarly, a rising stock market may tempt you to pull money out of debt and invest it in equities to make a quick buck. This could result in you either losing a part of your investments or earning low returns. Remember, timing the market is a strategy that even experts find it difficult to implement successfully. Therefore, you must keep your focus on your long-term goals and continue your investment process through your time defined time horizon.

Invest in tax -efficient investment options  

While paying taxes when necessary is understandable, paying more taxes than necessary is not! Therefore, ensuring that your portfolio has the utmost tax efficiency is one of the key factors that can help you in improving your portfolio returns. While it is true that tax efficiency of the instruments alone cannot guarantee success, a tax aware investment strategy can make a substantial difference to what you get to keep in the end.   

Remember, tax efficiency is important for both short term as well as long-term investing. For example, investing in debt funds as against traditional options can make a huge difference to you post tax returns, especially if you are in the higher tax slabs. Long-term capital gains i.e. gains on units sold after completion of one year or more are tax at a concessional tax rate of 10 percent in debt funds. Tax efficiency becomes even more important when you plan for your medium and/or long-term investment goals such as children's education, buying a house and retirement planning.  To achieve these very important goals of your lives, it is essential to invest in options that have the potential to provide higher as well as tax-efficient returns. This factor is very important especially considering the escalating costs. That's why equity has an important role to play while designing a portfolio for long-term goals. Remember, investing to beat inflation generally involves steering clear of tax-inefficient instruments. 

Vimal Singh

pgdm 1st yr

Ramdev booked for his 'honeymoon' remark against Dalits across India

 

0

 

Yoga guru Ramdev has been booked across the country for "insulting" the Dalit community through his controversial "honeymoon" remark against Congress vice-president Rahul Gandhi.

Yoga guru Ramdev addresses a press conference in Lucknow.(HT photo/Deepak Gupta)

Ramdev, a supporter of Bharatiya Janata Party's prime ministerial nominee Narendra Modi, made the remark in Lucknow on April 25 and has drawn flak from all quarters since then.
"Had he (Rahul) married a Dalit girl, who knows, he might have become the PM. Sonia says first become the PM and then bring a foreigner as bride. He goes to Dalit houses to have picnics and honeymoon," he had said.

The city Nationalist Congress Party (NCP) president, Ajay Patil, lodged a complaint at the Sadar police station in Nagpur on Sunday and submitted a video recording to substantiate the evidences that hurt the sentiments of Dalits in the country.
Read: Ramdev barred from holding yoga camp, booked under SC/ST Act
"We have requested the police station-in-charge to lodge an FIR on the basis of the VCD against the yoga guru immediately. If the police fail to take an appropriate action against Baba Ramdev, the NCP would launch an agitation in the city soon," said Patil.
Akhil Bharatiya Dhamma Sena, an organisation of neo-Buddhists, burnt an effigy of Ramdev on Sunday evening at the busy Variety Square in protest against his remarks on Dalits.
Bhim Sena, a Dalit organisation, too lodged a police complaint against Ramdev at Panchpaoli police station, a pre-dominantly Dalit area in north Nagpur.
"We have booked an FIR against Baba Ramdev. Now, we are investigating the matter and would refer it to Lucknow for necessary action as it's comes under the jurisdiction Lucknow Police,” said Dilip Khobragade, the police station in-charge of Panchpaoli.
Read: Ramdev lashes out at Congress in Himachal despite EC ban
"If the police fail to take an action against Baba Ramdev within a week, the Dalit organisations in Nagpur would ensure the closure of all medical stores which sell the medicines of Baba Ramdev," warned Sanghapal Meshram, a senior Dalit leader.
Nagpur has a seizable Dalit population and Babasaheb Ambedkar embraced Buddhism, along with half a million of his followers on October 14, 1956.
An NGO in Ahmedabad also lodged an FIR against the yoga guru for "insulting" the Dalit community and demanded action against him.
"Last night, we lodged an FIR under 'zero' number against Ramdev and later forwarded it to Mahanagar police station in Lucknow," police inspector DH Desai said on Sunday.
A zero FIR can be filed at any police station – even if a complainant is far off from the place of incident and he or she may or may not be sure of the correct jurisdiction.
It can then be transferred to the appropriate police station limits when details are available.
The FIR was lodged in Gomtipur police station in Ahmedabad demanding action against Ramdev under the SC/ST act.
"Activist Ratna Vora, on behalf of her organisation Ambedkar Karwan, filed the complaint against Ramdev who has made a statement that Rahul used to visit Dalit community people to enjoy picnic and honeymoon," the police officer said.
When contacted, Vora said Ramdev's remark was an "insult" to entire Dalit community.
"I was shocked after watching Ramdev on TV when he was saying that Rahul Gandhi visits Dalit family to enjoy picnic and honeymoon and I decided to file a complaint against him," Vora told PTI.
The FIR has sought action against Ramdev under section 3(1)(X) of the Prevention of Atrocities Act which stands for making insulting remarks pertaining to the caste or community.
The yoga guru was also booked in Rajasthan and a court case was filed against him in Bihar.
In Jaipur, a First Information Report (FIR) was lodged against him.
Read: Ramdev faces poll panel heat, Dalit activists file complaint in Jaipur
"Some people showing newspaper cuttings, lodged a complaint against Ramdev on Sunday in Jyoti Nagar police station here. They said that their sentiments have been hurt by Ramdev's remarks and demanded action against him," a police officer told IANS in Jaipur on Monday.
Earlier, people belonging to the Dalit community protested against the yoga guru in the Rajasthan capital.
Some of the angry protestors blackened a poster of Ramdev, shouting slogans against him and demanding his immediate arrest for insulting the community.
In Bihar, food and civil supply minister Shyam Razak filed a case against the yoga guru.
"I have filed a case in the court against Ramdev for insulting and humiliating Dalits," Razak told reporters in Patna.
He said he has demanded jail term for the yoga guru.
"The right place for Ramdev is in jail. He has hurt the Dalits by saying that Rahul Gandhi goes to Dalits' houses to celebrate honeymoon," the minister said.
The Janata Dal (United) leader demanded the central government should lodge a case against Ramdev under the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act.
             
            Mithilesh Chaubey
             PGDM 2sem

Nokia names Rajeev Suri as new CEO, gives extra dividend

 

Rajeev Suri will become the new chief executive of Finnish telecommunications gear maker Nokia , the company said on Tuesday, adding that it would return an extra 1 billion euros to shareholders from the sale of its phone unit.

Suri, 46, until now led Nokia Solutions and Networks (NSN), the smaller network equipment unit of Nokia when the company still made mobile phones.

Suri is credited with turning the unit around, and last year it contributed most of the 12.7 billion euro ($17.58 billion)turnover Nokia made from its continuing operations.

"Rajeev is the right person to lead the company forward," Nokia Chairman Risto Siilasmaa said in a statement. "He has a proven ability to create strategic clarity, drive innovation and growth, ensure disciplined execution, and deliver results."

Last year, the NSN unit's sales were 11.3 billion euros, while navigation unit HERE accounted for 914 million euros and its patent unit, dubbed advance technologies, 529 million euros.

Nokia finalised the around 5.4 billion euro ($7.5 billion) sale of its struggling mobile phone business to Microsoft on Friday. It said it would now focus on its three remaining businesses that cover networks, navigation and patents.

The network unit was long in the red, but turned profitable in 2012 after Suri slashed costs and shed unprofitable business.

Analysts say management now needs to concentrate on winning more contracts as higher research and development costs mean bigger, deep-pocketed rivals have an advantage.

Nokia has said it would make an aggressive push this year to gain market share against industry leader Ericsson as well as Chinese rival Huawei. Nokia has also said it aims for year-on-year sales growth in the second half.

The company also said it would pay stakeholders an extra 0.26 euros ($0.36) per share on top of the annual dividend of 0.11 euros for last year. The extra dividend amounts to around 1 billion euros total, and the ordinary dividend will cost another 400 million.

Nokia also said it planned to give at least 0.11 euros as dividend for 2014 and start a 1.25-billion-euro share repurchase programme, and reduce debt by 2 billion.

VIMAL SINGH

PGDM II SEM

UK MPs oppose ban on Indian mangoes   

Two Labour MPs have joined the growing opposition to the European Union’s ban on the import of mangoes and some vegetables from India from May 1.

The Alphonso variety is popular in towns with large consumers of Indian origin such as Leicester, Birmingham, Manchester and London. Britain, the largest EU consumer of mangoes, imports 47,000 tonnes of mangoes a year, mainly from India and Pakistan.
As an EU member-state, Britain will implement the ban announced on May 26 due to concerns over pests and insects in consignments from India. A revision of the ban is due to take place before December 31, 2015.
 

As more join an e-petition to the David Cameron government to lift the ban, two Labour MPs from Leicester – Keith Vaz and Jon Ashworth – reacted with fury at the ban and its impact on Indian restaurants and companies in their constituencies.
“This is Euro-nonsense and bureaucracy gone mad. Indian mangoes have been imported to Britain for centuries. I am furious with the lack of consultation with those who will be affected by the ban,” said Vaz. 
 
Promising to raise the issue in Parliament this week, Ashworth said: “Given that the crop of Alphonso mangoes will peak this month and next, the import ban is concerning for many businesses in the City of Leicester”
VIKASH CHANDRA MISHRA
pgdm 1st year 
Source : Hindustan times

Hero MotoCorp forms JV in Bangladesh; to set up manufacturing plant 

28APRIL2014

 

Country's largest two-wheeler maker HERO MOTO CORP on Monday announced a joint venture with Bangladesh's Nitol Niloy group and the two plan to invest around $40 million (over Rs 240 crore) in the next five years.
The joint venture, in which Hero MotoCorp will hold 55 per cent stake and rest will lie with the Bangladeshi partner, plans to set up a new manufacturing facility which will have an annual capacity of 1.5 lakh units when fully functional by second quarter of 2015-16.
The plant in Bangladesh will be the the first full-fledged manufacturing facility for the Indian two-wheeler major outside India. The diversified Nitol Niloy group has interests in various sectors and also markets Tata Motors' vehicles in Bangladesh.
The commencement of our operations in Bangladesh is a significant milestone in our strategic global expansion plans. In addition to our first overseas joint venture, this is also where our first manufacturing plant outside India will come up, HERO MOTO CORP MD & CEO Pawan Munjal said in a statement. Once operational by the second quarter of 2015-16 fiscal, the plant will have an annual capacity of 1.5 lakh units, he added.
"We are aiming to have around 20 per cent of market share here (Bangladesh) in the first year of our operation," Munjal said.
Commenting on the development, Nitol Niloy Group Chairman Abdul Matlub Ahmad said the aim of the joint venture is to provide technologically advanced, innovative and fuel efficient two-wheelers for customers in Bangladesh. Hero MotoCorp will hold 55 per cent in the joint venture while 45 per cent will be held by the Nitol Niloy Group. There will be a total equity injection of $12.6 million in a ratio of 55:45 over a period of two years.
The new venture will have a capex of $23.2 million in the first year of its operation and a total investment of $40 million over the next five years, the company said.
Already, Hero MotoCorp is selling a range of motorcycles in Bangladesh through the initial 50 retail outlets. The range of Hero motorcycles being sold in the neighbouring country includes HF Dawn, Splendor+, Passion Pro, Glamour, Hunk and 100 cc scooter Pleasure. Hero MotoCorp, after separating from Honda in 2011, has augmented its global presence and currently sells products across 18 countries, including Peru, Guatemala, Turkey and Egypt.
The company has established assembly units in Kenya, Tanzania and Uganda in East Africa through its distributors. Last year, the company had announced plans to enter 50 new markets by 2020 with a target of 20 manufacturing facilities across the globe with an overall annual turnover of Rs 60,000 crore by that time.
As part of its global expansion plans, Hero MotoCorp had said it would have six assembly lines spread across three continents by 2014. The company had said it aims to sell around one million two-wheelers abroad by 2017. Hero MotoCorp has three manufacturing facilities in India and is set to commission the fourth facility at Neemrana, Rajasthan thereby taking its total installed capacity to over 7.5 million units.
The company, which sold 6.25 million two-wheelers in 2013-14, is also in the process of building a fifth facility in Gujarat.
AJAY SINGH THAKUR
PGDM 2nd sem

Wipro gains as co plans biggest restructuring exercise since 1981

Read more at:
http://economictimes.indiatimes.com/articleshow/34306845.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Wipro gains as co plans biggest restructuring exercise since 1981

Read more at:
http://economictimes.indiatimes.com/articleshow/34306845.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Workers at Toyota's Karnataka plants to resume work today

Toyota Kirloskar Motor Employees Union has decided to resume work from Tuesday in the wake of Karnataka government's order to both the management and the union to restore normalcy in operations.
"At our general body meeting held today, we have decided to resume work from tomorrow following the government's directions," TKMEU Joint Secretary N Raghu said.
"Our issues with the management relating to COD (Charter of Demand), legality of lockout, wage issues have been referred to adjudication," he said.
The Karnataka government had last week asked both the management and the union of Toyota Kirloskar Motor to restore normalcy in operations, seeking to an end to over month long stalemate.
In response to a question on suspension of 30 employees, he said, "we will have to discuss it and follow it up with the management, if need arise we will fight it legally also."
Responding to the union's decision to resume work, the company in reply to a query said, "The government has requested the company and the union to restore normalcy in operations immediately. Under these circumstances it is important for the union and the company to comply with and facilitate the execution of the government's order."
On how the company intends to pursue the issue of suspension of 30 employees, it said, "We have a systematic process in place that also involves external parties for fair enquiry. The principles of natural justice, governing this process will be followed and the penalties meted out in line with its results."
The company's operations have been affected ever since the union demanded a wage hike of Rs 4,000 as against Rs 3,050 proposed by the management.
Toyota Kirloskar Motor, a subsidiary of Toyota Motor Corp of Japan, had on March 16 declared a lockout, after talks between the management and union over wage negotiations failed.
Although the lockout was lifted on March 24, employees have not resumed work as they objected to signing a good conduct undertaking as demanded by the company and pressed for withdrawal of suspension orders.


PRAVEEN SHARMA


pgdm 2nd sem

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Franklin Templeton India launches new European growth fund

Franklin Templeton Investments India, one of India's largest Asset Management Company (AMC) managing Rs 45,000 crore has recently launched the Franklin India Feeder - Franklin European Growth Fund. The fund will invest into the Luxembourg-domiciled Franklin European Growth Fund (underlying fund), an overseas equity fund launched in December 2000, which primarily invests in companies across market caps that have their principal business in European Countries.
Speaking about the fund's strategy, Michael Clements, Portfolio Manager, Analyst, Franklin Templeton Investments, said, with the economic recovery gaining traction in Europe, corporate earnings are poised to show improvement.
Currently Indian investors have the choice to invest into some European Offshore funds. The DWS Top Euroland Offshore fund, for instance, has delivered 29% in the last one year, while the JP Morgan Europe Dynamic Equity Offshore Fund and Religare Invesco Pan European Equity Fund have been recently launched in January 2014.
Many European companies have a global presence and will benefit from a synchronized recovery at home and abroad. "While European equities have posted strong gains over the past year, valuations remain attractive in numerous pockets", says Clements. "We tend to be contrarian in our style, and our philosophy and process often lead us to segments of the market that are out of favour with other investors.", he adds.

The AMC already has an established record of managing international funds. It manages Rs 750 crore in its US focused fund known as the FT India Feeder Franklin US Opportunities Fund , which has returned 38% in the last one year (as on 22 April, 2014). This compares very closely to its peer, the ICICI Prudential US Bluechip Equity Fund that returned 41% and has outperformed DSP Blackrock's US Flexible Equity Fund, which returned 33% for the same period.  It also manages Rs 135 crore in the Franklin Asian Equity Fund.
According to Vivek Kudva, Managing Director, India and CEEMEA, Franklin Templeton Investments, "Europe constitutes 24% of the world's GDP and several European companies have demonstrated strong competitive advantage and global presence in sectors such as engineering, pharmaceuticals and consumer goods. With 34% of the world's trade generated through Europe, this region remains one of the largest players and an excellent region to do business with."
Kudva feels that adding an international fund with exposure to European companies to the portfolio can help investors reduce the potential portfolio risk over the medium to long term.

VIJAY KR YADAV
PGDM SEM-2
SOU- TIMES OF INDIA

Why PE funding in India is going through a churn

Given the economic slowdown, a weak rupee and an uncertain policy environment, it's not a surprise fund managers are carefully weighing their investment commitments. Fund managers also say the fall in the number of investable businesses is leading to higher valuations, which is impacting their returns on investment

Private-equity (PE) funding in India is going through a churn with fewer companies attracting higher capital from investors. Data from research firm VCCEdge shows there were 292 PE deals worth $9.2 billion in 2013 . This represents an eight per cent rise in value and a 17 per cent drop in volume from the previous year.

What does this indicate? Some analysts feel this shows the number of businesses worth investing in is shrinking. Given the economic slowdown, a weak rupee and an uncertain policy environment, it's not a surprise fund managers are carefully weighing their investment commitments. Fund managers also say the fall in the number of investable businesses is leading to higher valuations, which is impacting their returns on investment.

Private-equity (PE) funding in India is going through a churn with fewer companies attracting higher capital from investors. Data from research firm VCCEdge shows there were 292 PE deals worth $9.2 billion in 2013 . This represents an eight per cent rise in value and a 17 per cent drop in volume from the previous year.

What does this indicate? Some analysts feel this shows the number of businesses worth investing in is shrinking. Given the economic slowdown, a weak rupee and an uncertain policy environment, it's not a surprise fund managers are carefully weighing their investment commitments. Fund managers also say the fall in the number of investable businesses is leading to higher valuations, which is impacting their returns on investment.

VIMAL SINGH

PGDM II (SEM)

Ballarpur Industries said to plan $250 million IPO of unit in Singapore

 

Mumbai/London: Ballarpur Industries Ltd., the Indian paper maker controlled by Gautam Thapar, plans to raise about $250 million in a Singapore listing of its international operations, said people with knowledge of the matter.

 

The company is working with Deutsche Bank AG on the deal, said the people, who asked not to be identified because the information is private. 

The share sale may take place in the second half, they said.

 

Ballarpur Industries is pursuing an IPO of the business as it seeks to cut debt that swelled to Rs5,210 crore ($853 million) by the end of December, from Rs3,880 crore in June 2011, data compiled by Bloomberg show. 

 

The company said this month that it’s considering options for fundraising, without providing specifics.

Shares of Ballarpur Industries rose as much as 9%. They were trading 5.7% higher to Rs15.85 at 2:29 pm in Mumbai, headed for the highest close since June.

 

“The company continually reviews its financing requirements and will announce any plans at the appropriate time,” Shravani Dang, a spokeswoman for Ballarpur Industries, said in an emailed statement. Linus Chettiar, a Mumbai-based spokesman at Deutsche Bank, declined to comment.

 

In 2011, Ballarpur Industries deferred plans for a $330 million London initial public offering of its unit BILT Paper Plc. BILT said at the time it will wait to seek a higher price, after US-based International Paper Co. agreed to buy Indian rival Andhra Pradesh Paper Mills Ltd. for almost three times its market value.

 

Thapar is also seeking buyers for his stake in electrical equipment maker Crompton Greaves Ltd., people familiar with the matter said in March. Bloomberg

 

TANYE TAPAS,

PGDM 2ND SEM,

SOURCE:- MINT 

 

NSEL crisis: Bombay HC sets up three-member panel to recover funds

 

Mumbai: The Bombay high court on Wednesday said it will set up a three-member committee to recover money in the Rs.5,574.35 crore payment crisis at the National Spot Exchange Ltd (NSEL).

 

The committee is likely to have powers to pass a decree against the borrowers who have defaulted in the NSEL case.

 

It will comprise a retired judge, a lawyer and a chartered accountant. A single bench of the high court will decide on the members and the committee’s terms of reference on Friday.

 

This move means the borrowers of NSEL will be bound to appear before the committee and the decree of the committee will be binding on them.

 

“It is a very good and positive step towards recovery, and it will put pressure on other defaulting borrowers to come and pay up their dues,” said Ashok Mittal, alternate president of Commodity Participants Association of India.

 

The investors felt the development was delayed, but hoped for faster recovery of their dues.

“Considerable time has lapsed in forming the committee. We hope this committee will move and act better than that formed by FTIL,” said Ketan Shah, an aggrieved investor in NSEL.

 

The high court was hearing a representative suit filed by Modern India Ltd against Financial Technologies (India) Ltd (FTIL), promoted by entrepreneur Jignesh Shah, and 40 other entities including NSEL, which has been embroiled in a crisis since the end of July.

 

The settlement crisis at NSEL came to light on 31 July when the exchange abruptly suspended trading in all but its e-series contracts. These, too, were suspended a week later

 

The closure of trading may have been prompted by an instruction from the ministry of consumer affairs to the exchange asking it not to offer futures contracts. A spot exchange isn’t supposed to do so, but NSEL was doing that.

 

NSEL tried to implement the change, but because its appeal was to investors and members who were not interested in spot trades, it eventually had to suspend all trading.

 

It later emerged that all trading on NSEL happened in paired contracts, with investors, through brokers, buying a spot contract and selling a futures one for the same commodity.The entities selling on spot and buying futures were planters or processors and members of the exchange. It turned out there were only 24 of them, and they used the paired contracts as a way to raise easy money. When the trading was suspended, the investors were left holding contracts that the members couldn’t buy because they didn’t have the money to do so.

 

On 14 August, NSEL proposed a payout plan, but it has been unable to stick to the schedule and has not made a single successful payout ever since.

 

RANJAY KUMAR,

PGDM 2ND SEM,

SOURCE:-MINT

 

 

Modi to file nomination soon; blogs action plan for Varanasi, seeks people's blessings

Hours before filing his nomination papers from Varanasi in one of the most keenly watched contests in the 2014 Lok Sabha elections, the Bharatiya Janata Party's prime ministerial pick Narendra Modi praised the "glorious past" and talked about the "glorious future" of the holy city in a blog.

Bharatiya Janata Party (BJP) prime ministerial candidate Narendra Modi during an election rally at BKC in Mumbai. (Kunal Patil/HT Photo)

Modi talked about creating state-of-the-art tourist and infrastructure facilities for Varanasi, commitment to clean the Ganga, address the issues of cleanliness in the temple town and to make the weavers of Varanasi become "our pride at the world level".
"With the blessings of Lord Vishwanath and inspired by the legacy of a glorious past, we set out to create a magnificent future for Varanasi," he wrote.

He also sought the support and blessings of the people of Varanasi.
"Bless me so that I can restore this glorious city to its prime and so that I can bring a sea of change in the lives of people of Varanasi and Poorvanchal so that this region once again becomes the focal point of our nation’s development and our proud culture."
Aam Aadmi Party leader Arvind Kejriwal on Wednesday filed nomination papers had attacked Modi and Rahul Gandhi for "helicopter democracy".
He also mentioned that Modi would be arriving on a helicopter to Banaras Hindu University (BHU) and after garlanding university founder's statue would again hop on the chopper for his next destination before starting his road show.
"People of Amethi are now fed up of Rahul Gandhi whom they see arrive and leave in a chopper. I hope Varanasi doesn't make the same mistake else they too would see Modiji mostly on a helicopter but never among them," he said.
The Gujarat chief minister will fly in to the temple town and attended a string of events, including paying tributes to the BHU founder Madan Mohan Malviya, BR Ambedkar, Sardar Vallabhbhai Patel and Swami Vivekanand.
Before filing his papers, Modi, who is also contesting from Vadodara in his home state, will hold a 2.5-km long roadshow. He would move in an open rath, a Tata 407 vehicle likely, through congested lanes with local BJP leaders helping the police in regulating the crowd, security sources said.
Modi's nomination for the seat was a tough challenge for the saffron party, which hopes to put up a spectacular show in Uttar Pradesh under his leadership.
The BJP had announced Modi would contest the Varanasi seat in UP after sitting parliamentarian Murli Manohar Joshi gave in to the pressure from top leadership. Joshi will fight from the Kanpur seat.
Modi's decision to enter the fray from the holy city, as demanded by BJP strategists, underscored anxiety on the part of the party brass to maximise the saffron party's tally from UP and Bihar — two key states accounting for 120 Lok Sabha seats that could help the BJP reach the magic figure of 272 in the House to form the next government.
Malviya's grandson Girdhar Malviya was one of the proposers to name the Gujarat chief minister.
"I accepted the offer to be Modi's proposer. Modi will take the nation forward with his principles, uniting everyone," said Girdhar Malviya, a former judge.
The BJP had tried to rope in the family of the late shehnai maestro Bismillah Khan but they politely declined, citing their tradition of staying away from politics.
In 2009 Lok Sabha election, senior BJP leader Murli Manohar Joshi had won the seat defeating gangster-turned-politician Mukhtar Ansari by a margin of 17,000 votes.
Quami Ekta Dal's Ansari, who is known to have a strong support base among Muslims, has decided not to contest against Modi from the seat "to avoid division of secular votes".
The Congress party has fielded Ajay Rai, a Varanasi local, who is an MLA from Pindra assembly constituency. Samajwadi Party candidate Kailash Chaurasiya is also a sitting MLA from nearby Mirzapur. Both Rai and Chaurasiya have already filed their nominations.
BSP's Vijay Prakash Jaisawal will contest the elections from Varanasi while CPI(M) has given ticket to veteran party worker Heera Lal Yadav. Mamata Banerjee's Trinamool Congress has given the ticket to Indira Tiwari.
Every party has been trying hard to woo the 1.5 lakh Muslim voters the constituency has.
Polling in Varanasi would be held in the last phase of Lok Sabha elections on May 12.
After filing his nomination papers from Varanasi, Modi will fly to his other constituency of Vadodara to address a public meeting at the Polo Ground, a party official said.
This will be Modi's first rally in Vadodara after he filed his nomination papers on 9 April.
(With IANS and PTI inputs)
      
    Mithilesh Kumar Chaubey
    PGDM 2 sem

Franklin Templeton India launches new European growth fund

Team Money Today        Last Updated: April 24, 2014  | 10:23 IST

Tags: Franklin Templeton Investments India | Franklin India Feeder | Franklin European Growth Fund | Asset Management Company

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Franklin Templeton Investments India, one of India's largest Asset Management Company (AMC) managing Rs 45,000 crore has recently launched the Franklin India Feeder - Franklin European Growth Fund. The fund will invest into the Luxembourg-domiciled Franklin European Growth Fund (underlying fund), an overseas equity fund launched in December 2000, which primarily invests in companies across market caps that have their principal business in European Countries.
Speaking about the fund's strategy, Michael Clements, Portfolio Manager, Analyst, Franklin Templeton Investments, said, with the economic recovery gaining traction in Europe, corporate earnings are poised to show improvement.
Currently Indian investors have the choice to invest into some European Offshore funds. The DWS Top Euroland Offshore fund, for instance, has delivered 29% in the last one year, while the JP Morgan Europe Dynamic Equity Offshore Fund and Religare Invesco Pan European Equity Fund have been recently launched in January 2014.
Many European companies have a global presence and will benefit from a synchronized recovery at home and abroad. "While European equities have posted strong gains over the past year, valuations remain attractive in numerous pockets", says Clements. "We tend to be contrarian in our style, and our philosophy and process often lead us to segments of the market that are out of favour with other investors.", he adds.

The AMC already has an established record of managing international funds. It manages Rs 750 crore in its US focused fund known as the FT India Feeder Franklin US Opportunities Fund , which has returned 38% in the last one year (as on 22 April, 2014). This compares very closely to its peer, the ICICI Prudential US Bluechip Equity Fund that returned 41% and has outperformed DSP Blackrock's US Flexible Equity Fund, which returned 33% for the same period.  It also manages Rs 135 crore in the Franklin Asian Equity Fund.
According to Vivek Kudva, Managing Director, India and CEEMEA, Franklin Templeton Investments, "Europe constitutes 24% of the world's GDP and several European companies have demonstrated strong competitive advantage and global presence in sectors such as engineering, pharmaceuticals and consumer goods. With 34% of the world's trade generated through Europe, this region remains one of the largest players and an excellent region to do business with."
Kudva feels that adding an international fund with exposure to European companies to the portfolio can help investors reduce the potential portfolio risk over the medium to long term.
Shares in tech heavyweights Apple and Facebook held hefty after-hours gains on Thursday as their results handily outpaced Wall Street expectations, though Asian markets managed only a mumbled cheer on the news.
South Korea's Samsung Electronics did gain 0.6 per cent but the main KOSPI index dipped a fraction. Markets were mixed across the region with Japan's Nikkei off 0.6 per cent but Singapore up 0.5 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan edged ahead by 0.1 per cent.
The outlook for the US market was brighter, however, with Nasdaq futures up 1.1 per cent and the S&P 500 E-mini adding 0.3 per cent.
Those gains came after Apple decided to buy back $30 billion of its shares through the end of 2015 and authorised a seven-for-one stock split.
Its shares jumped almost 8 per cent to $566.50 in after-hours trade, the highest since December and adding roughly $35 billion to its market worth.
Apple reported sales of 43.7 million iPhones in the quarter ended March, far outpacing forecasts. That drove a 4.6 per cent rise in revenue to $45.6 billion, a record for any non-holiday quarter.
The iPhone maker's strong performance did not translate into Asia as much as it usually does, with mixed trading seen among big tech players in Japan, South Korea and Taiwan.
 also boasted a 3.7 per cent jump after hours as the Internet social networking company topped Wall Street's financial targets.
The Nasdaq had ended on Wednesday 0.83 per cent lower, while the Dow eased 0.08 per cent and the S&P 500 lost 0.22 per cent

NAGESH DUBEY
PGDM 2ND SEM

Airtel announces hike in fixed line broadband rates from April

Press Trust of India, March 11, 2014

 

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Airtel's fixed-line broadband customers will have to shell out more for Internet services from April, as the service provider has hiked the charges by up to 40 percent in certain plans.The operator has informed its customers that the increase in broadband rates would be effective from their next billing cycle in April.
Due to an increase in input cost, the rent will be revised from Rs. 250 to Rs. 349 with effect from 17 April 2014, the company said in a communication to a customer.
In another communication to a customer, the company mentioned that from April 23, the rental will be increased from Rs. 850 to Rs. 949.
The company in the plan also informed customers about increasing minimum speed of broadband to 512Kbps from 256Kbps.
When contacted, an Airtel spokesperson said, "Tariff rationalisation is a continuous process and a function of market dynamics. This price revision of our broadband plans is in line with the increasing input costs that have a direct impact on the final prices."
Airtel is the second largest provider of fixed line broadband service with 1.39 million customers, according to Trai data for December month.
The company in February also become the first operator in the country to have more than 200 million subscribers. Airtel said in a statement said that it "has crossed the 200 million mobile subscriber mark in India, further consolidating its leadership position in the world's second-largest mobile market."
The company is in its 20th year of telecom services. Airtel got its first permits for mobile telephony in November 1994 and started services in 1995. Airtel is the largest telecom operator in India, in terms of both customers and revenue. It is the fourth-largest mobile operator in the world by subscribers.

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Airtel hikes fixed-line internet rates up to 40%

Agencies | Mar 12, 2014, 06.48 AM IST

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Airtel’s fixed-line broadband customers will have to shell out more for internet services from next month.

NEW DELHI: Airtel's fixed-line broadband customers will have to shell out more for internet services from next month as the service provider has hiked the charges by up to 40% in certain plans.

The operator has informed its customers that the increase in broadband rates would be effective from next billing cycle in April.

Due to an increase in input cost, the rent will be revised from Rs 250 to Rs 349 with effect from April 17, 2014, the company said in a communication to a customer.

In another communication to a customer, the company mentioned that from April 23, the rental will be increased from Rs 850 to Rs 949.

The company is also increasing minimum speed of broadband to 512 kilobit per second from 256 kbps. agencies

When contacted, an Airtel spokesperson said, "Tariff rationalization is a continuous process and a function of market dynamics. This price revision of our broadband plans is in line with the increasing input costs that have a direct impact on the final prices."

Airtel is the second largest provider of fixed line broadband service with 1.39 million customers, according to TRAI data for December month.

Ajeet Kumar
PGDM
2nd SEM

SERVAL

Several stipulations in the existing FDI policy are acting as deterrents for global retailers

 

 

Several stipulations in the existing FDI policy are acting as deterrents for global retailers, say industry insiders. For example, the Department of Industrial Policy and Promotion (DIPP), the authority that frames FDI policy, stipulated that foreign retailers with plans to set-up multi-brand chains have to invest a minimum $100 million with 50 per cent of that amount spent in building back-end infrastructure such as warehouses and cold storage facilities. This proposal has upset retailers because investing 50 per cent in back-end operations initially is difficult when the focus has to be on increasing the store count to acquire scale. Harminder Sahni, Founder and Managing Director at retail consulting firm Wazir Advisors, says that it is not an attractive policy for retailers in its present form. "If the new

This appears unlikely after the elections given the opposition to the policy from most political parties. BJP is in favour of FDI in infrastructure and several other sectors but "we don't want FDI in multi-brand retail because that will save jobs in the manufacturing sector," says BJP spokesperson Prakash Javadekar. The main problem is the sourcing of products, according to him. "Global chains are expected to source their products from multiple countries which will lead to large scale job losses in manufacturing," he adds.

In the first week of April, the Bharatiya Janata Party (BJP) releasemd its election manifesto. The docuent confirmed the party's opposition to foreign direct investment (FDI) in multi-brand retail. This came close on the heels of the Aam Aadmi Party also declaring its opposition to the ruling Congress's showpiece reform. Indeed, among major political parties, Congress now remains the sole supporter of the policy.

retailers

This appears unlikely after the elections given the opposition to the policy from most political parties. BJP is in favour of FDI in infrastructure and several other sectors but "we don't want FDI in multi-brand retail because that will save jobs in the manufacturing sector," says BJP spokesperson Prakash Javadekar. The main problem is the sourcing of products, according to him. "Global chains are expected to source their products from multiple countries which will lead to large scale job losses in manufacturing,"

VIMAL SINGH
PGDM 1ST YR