|
Markets end FY14 on a high; Sensex, Nifty set fresh records
Core sector grows by 4.5% in Feb
LML looks to regain market share in scooter segment
|
|
|
Monetary policy today, RBI likely to maintain status quo
No decision yet on new bank licences by RBI: EC
|
Markets end FY14 on a high; Sensex, Nifty set fresh records
Mumbai, March 31 The indices, however, fell from their peak intra-day positions on profit-booking. The 30-share BSE Sensex rose to historic high of 22,467.21 points in a day marked by high volatility. The key barometer finally settled at 22,386.27 points — setting a fresh closing record for the fourth straight day — 46.30 points or 0.21% higher than its previous close. The 50-share Nifty recorded its lifetime closing high of 6,704.20, up 8.3 points from its previous close. It jumped to 6,730.05, an all-time intra-trade record high. With foreign fund flows continuing relentlessly, the indices have been setting record lifetime high for six days in succession. Brokers attributed the rally to investor hopes of a stable government after elections and signs of economy returning to high-growth path. The Sensex has gained 1,266.15 points in March this year, the best monthly gain since October. For the full fiscal, the key index has witnessed a rise of 3,550.50 points, an increase of 18.8% from closing level on March 28 last year. Expectations that the RBI in its annual monetary policy tomorrow will keep the key rates unchanged also buoyed the market sentiment. Metal stocks were at the forefront of the rally. Brokers said metal stocks attracted buying on hopes that China will take steps to stimulate sagging economy. The communist country is the world's largest consumer of copper and aluminium. Hindalco zoomed 8.71% to end the day as the best Sensex gainer of the day. Tata Steel was the next best at 3.40%, while SSLT gained 2.76%. "Markets seem to be in a bullish mood and very optimistic of the upcoming RBI policy," said Rakesh Goyal, senior vice-president, Bonanza Portfolio. With the inflation and IIP numbers coming under manageable levels, markets are certainly expecting some positive news from RBI policy reviews, he added. — PTI |
|||||
Core sector grows by 4.5% in Feb
New Delhi, March 31 The eight core industries — fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas — have a combined weight of about 38% in the Index of Industrial Production. However, the core sector growth was slowed down to 2.6% during the April-February period of this financial year compared with 6.4% in the same period of 2012-13. Electricity generation grew exponentially by 10.4% in the month under review as against (-) 3.7% in February 2013. Output of coal and crude oil registered a growth of 0.1% and 1.9% against (-) 6.1% and (-) 4%, respectively. Steel production recorded a marginal growth of 4.8%, while the expansion in cement production slowed to 2.3%. Natural gas registered a negative growth of 4.4% and refinery products generation expanded 3.2%. Showing a ray of hope, industrial output entered positive territory and recorded a 0.1% growth in January after contracting for three months in a row. Assocham seeks policy measures on coal, gas pricing
Assocham has pressed for strong policy measures on pricing of coal and gas, strengthening the power distribution framework and addressing the issue of public sector monopoly in coal production to lift the performance of core sector. "The new government needs to initiate a comprehensive review of not only policies but also processes that govern core industries," Assocham secretary-general DS Rawat said. — PTI |
|||||
LML looks to regain market share in scooter segment
LML, a household brand in scooters, is gearing up with a complete portfolio of trendy scooters to position itself in the fast-growing scooters market in India. Partha Choudhary, head - sales and marketing, LML Ltd, talks about the company’s future plans.
Q. The scooter market is rapidly growing and overtaking motorcycles. What do you attribute this growth trend to? A. Industries evolve, driven by changing customer priorities, challenging incumbents and opening opportunities for proactive business design, resulting in a new industry order. The same is being witnessed in case of value migration to scooters from motorcycles led by changing customer priorities. The current CAGR of scooter growth is 23% which is twice the CAGR for motorcycles, as per research reports. The growth of scooter market is directly proportional to the growth in urbanisation of society along with increasing need for commuting of working women. Today’s scooter is easy to ride and this is one more reason why one prefers a scooter to a motorcycle when it comes to negotiating congested traffic conditions on an urban road…Worldwide this has been the trend and every evolved country has the segment share of scooter almost equal to that of motorcycle. The contribution of youth in the number of scooter-buyers has grown from 2% to 10% over the past five years. Q. LML has been low key in its operations for quite some time. What is your strategy for 2015 in terms of growth and expansion plans? A. LML has been a household brand in scooters because of our strong lineage. Our current offerings are geared scooters which are not the main stream scooter in today’s context although there are dedicated buyers for geared scooters where we have the exclusivity. Keeping in view the situation, we chose to service the evolved international markets such as Europe, the US, Australia etc. where although the size of industry was not too big, the contribution was pretty attractive. In exports, LML is now one of the most significant scooter exporters from India and the largest if we take the European market as the real destination for export. By 2015, LML can be seen as a complete scooter company with a range of scooters in the market. Q. What product launches have you lined up in the near future? How do you plan to take on competitors? A. We have a product range that is very different and one can call a category in itself. Hence we have very little competition to face in the market which is full of vanilla products. By 2015, LML will be a complete scooter company having 150cc 2-stroke basic scooter, 150cc 4-stroke offering high fuel economy with riding ease of a scooter, convenience for men in a male CVT in Star Euro (our most successful brand in Europe) 150cc automatic & Star Euro 200cc for performance scootering for enthusiasts seeking lifestyle cues. Q. Scooters already outsell bikes in many North Indian markets such as in Chandigarh. How do you foresee the growth of the new breed of scooters in other parts of North India? A. It is good news for us that scooter industry size is big enough and still swelling in markets like Chandigarh. The new breed of scooters like ours targets the male buyer who would aspire more than just continuing to ride a unisex product. In the rest of the northern markets, where scooter is still not a big bet like UP, I anticipate two responses. (a) with the growth in GDP, the towns will become more scooter-friendly & (b) the effect of urbanisation will catch up giving rise to growth of scooters there. The growth of scooters in semi-urban markets is the next big thing coming. Q. What are your plans for revamping your presence and network in North India? A. We have a strong network presence for retailing in Delhi and Punjab which are the real scooter markets now besides Haryana where we are in the process of appointing some retailing dealers but what we need is a distributor or a consignee sales agent to service the retailers’ need as a spoke and hub arrangement. Our business model is large SKU-driven; hence this arrangement would be necessary. This is new to Indian two-wheeler business but in all our overseas markets we manage our retail with this arrangement and this is a successful time-tested arrangement across the globe for all manufacturers. |
|||||
Monetary policy today, RBI likely to maintain status quo
New Delhi, March 31 "It would be quite a tough call for the RBI in the given scenario... I expect the RBI to maintain status quo," HSBC country head Naina Lal Kidwai said. RBI has indicated earlier that its priority would be to rein in inflation, although India Inc has been pushing for cut in interest rates as a booster dose for economic growth. In a bid to curb inflation, RBI in January raised the key repo rate by 0.25% to 8%. Besides outlook on inflation, the central bank would also take into account the strengthening rupee and its impact on exports, Kidwai said. Strengthening of the rupee against dollar in the past few days following inflow of foreign currency has put pressure on exports. In addition, unseasonal rains in March may end up stoking food inflation in the near term. RBI will tomorrow announce the annual monetary policy for the financial year 2014-15. "In my view, RBI may go in for a pause this time," Federal Bank managing director Shyam Srinivasan said. According to PNB chairman and managing director KR Kamath, the RBI action will depend on outlook on inflation. — PTI |
|||||
No decision yet on new bank licences by RBI: EC
New Delhi, March 31 Last week, Election Commissioner HS Brahma had said the request would most likely be taken up by the Election Commission on March 31. Finance Minister P Chidambaram today said although there was no need to refer the proposal, it had been done out of abundant caution. "Governor Raghuram Rajan made it clear even on that they referred to EC only out of abundant caution. This process had started almost two and a half years ago. This is the process where the government has no role at all," Chidambaram said. Inviting, screening, scrutinising and selecting candidates for grant of bank licence is a purely RBI-driven process and the government has no role, he had said. The RBI sought the Commission's nod as the model code of conduct came into force with the announcement of general election on March 5. — PTI |
|||||
BHEL wins hydro power project in Uttarakhand Anil Agarwal to be chairman emeritus of Sesa Sterlite GMR Infra shares gain after unit files for IPO Naik sells his L&T shares worth
Rs 72 crore RCom launches two global roaming packs Gionee launches ELIFE S5.5 handset at
Rs 22,999 Nokia staff stage fast |
|||||
|
HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Letters | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | E-mail | |