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Michelin to double Chennai capacity Carnival Films acquiring 3000 screens pan India Tata gets 4-star rating for Zest RoC in the dock... Wabco launches safety system 29 per cent jump in TCS revenues The gainers and the losers Last stages Back in growth mode Smartphone onslaught by Chinese brands Welcome focus to improve rural India... V-Guard launches app-enabled water heater system Sivasankaran enters taxi space to take on Uber and Ola Yamaha unveils scooter boutique AL wins Deming prize again Chinese smart phones flourish in small towns too! Solar installations exceed 2015 capacity in five months Aurobindo Pharmacy: good turnaround ITC chairman calls for policy impetus to transform agriculture M & M unveils driverless technology for tractors Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Increasing market share L & T’s floating dock for navy E.I.D Parry (India) Ltd: another sweet year Tata Motors charts investments in PV and CV businesses Forging industry worried over lower supply of steel and its price L&T profit up by 11 per cent Land wars New India Assurance posts impressive show When small is not so beautiful… Are they really independent? A welcome initiative-even critics are recognised A niche in FMCG business... Tata Motors joins compact SUV bandwagon with Nexon Preparing for the next growth curve From the toughest to the best year Daimler grows sales and share in India PSU non-life firms seek to protect share IOB on turnaround path It takes two to tango CAPITAL NOTES Toyota and Suzuki to introduce EVs in India by 2020 TN government keen on revival of operations at Nokia complex The unexpected exit Sundram Fasteners rejigs international Bajaj Finserv – Q1: fare well Nissan exit shouldn’t affect ALL ITC – steep excise hike Maruti – for young buyers TI Cycles plans retail expansion to drive sales for premium bicycles Kone India eyes further growth in elevator market TVS Srichakra plans capacity expansion Shriram Life clocks more than Rs.1000 crore premium in 2015-16 He excels in the nuts and bolts of entrepreneurship AL secures orders for 3600 buses Ode to Ratan Tata Emami – a new growth mantra Housing demand revival LVB posts 31 per cent growth in Q1 net profit AL introduces Guru & Partner Singur minus Nano – victory or folly? Record two-wheeler sales Right to privacy – now it’s fundamental! Tata Motors bets on new launches Dish TV – subscriber additions encouraging Eyes strong growth in 2016-17 Hindalco – re-rating PPP model for infrastructure development Mercedes-Benz sales continue to zoom Hyundai to focus on SUVs and AMT variants Titan Company – sales recovery to kick in Rane targets Rs.5500 crore topline by 2018-19 Is this a generation gap? Vellayan is back, after 150 days Tata Motors aims to be among the Top 3 global CV & PV firm TVS Automobile invests Rs.75 crore in start-up firms Gamesa to set up a plant in Nellore Smooth sailing of SAIL Daimler’s truck exports from Chennai cross 5000 units Consolidating leadership position in smartphones Hyundai India achieves 7 mn production at Chennai factory HPCL plans Rs.61,000 crore capex over 5-years Tata Steel, ThyssenKrupp sign MoU to merge European units L & T set bigger ambitions in defence business L&T bags the Mumbai Trans-harbour link order
 

RJio’s maiden profit in Q3, driven by healthy ARPU

RJio, surprised the market with its profit, which comes in its second quarter of commercial launch. It reported a net profit of Rs.504 crore during the December quarter on a standalone revenue of Rs.6879 crore. 

RJio recorded an industry-leading EBITDA margin of 38.2 per cent. This is 440 basis points higher than leader Bharti’s India wireless. With a 160.1 million subscribers, RJio has India’s largest wireless data subscriber base, with the gap widening from the other operators. 

The company had many issues related to supply of JioPhone due to non-availability of the critical components such as chipset, battery, etc. However, it claimed to have overcome supply challenges to resume JioPhone supply. 

The company has said that it is on track to achieve 99 per cent population coverage during the year.

 

Apollo Tyres to set up Rs.1800 crore factory in AP

Leading tyre maker Apollo Tyres will set up a new manufacturing complex in Andhra Pradesh involving an investment of Rs.1800 crore.

The tyre factory, which will be its 7th unit globally, will come up over a 200-acre site in Chinnapanduru village near Sri City in Chittoor district. The foundation stone was laid last month by the Chief Minister N Chandrababu Naidu, in the presence of Onkar S Kanwar, Chairman and Neeraj Kanwar, Vice Chairman & Managing Director.

The unit, which is coming up in a backward district of the state, is expected to generate direct employment to 700 and to much more people indirectly. The factory is expected to be ready in about two years.

“Five years ago, we were a small player in the PCR segment. But now, we are Number Two in India in the segment with strong supplies to vehicle makers and aftermarket demand. The brand has strengthened itself over these years in the domestic market, while our exports have also been growing,” said Kanwar.

 

TVS Motor reports strong performance 

Leading two and three-wheeler company TVS Motor Company has reported a 16 per cent growth in its net profit at Rs 154 crore for the quarter ended 31 December, 2017 when compared with Rs.133 crore in a year-ago period.

The company’s total revenues (excluding excise duty/GST) grew by 23.5 per cent to Rs.3685 crore as against Rs.2983 crore in Q3 of previous fiscal, on the back of strong sales growth in domestic and export markets. 

The company has said that its premium bike Apache 310cc, launched in December 2017, has been received well and the company is hoping to sell about 10,000 units a month in the first year.

The management has given capacity guidance of Rs.650 crore and Rs.500 crore for FY18 and FY19 respectively. It’s total capacity currently stands at 4.5 million units a year.

 

Boom in vehicle finance buoys Chola’s Q3 net

Murugappa Group Cholamandalam Investment & Finance Company Ltd has exhibited a strong performance during the third quarter of this fiscal, aided by robust growth in disbursements in vehicle finance segment.

Its net profit grew 53 per cent at Rs.249 crore in December quarter when compared with Rs.163 crore in a year-ago period. Total income from operations stood at Rs.1383 crore as against Rs.1176 crore in a year ago period, an increase of 18 per cent.  The Board announced an interim dividend of 45 per cent (Rs.4.5 per share).

 

Solar remains the driver of clean energy capacity

Solar power segment continues to support renewable energy capacity addition in the country.

According to Mercom Capital, the cumulative installed capacity in the solar power segment has touched 20 GW. In this, the utility-scale cumulative installations account for 18.4 GW, while rooftop solar capacity accounts for the remaining 1.6 GW.

The top state for solar installations was Telangana, followed by Karnataka, Andhra Pradesh and Rajasthan.

Union Ministry of New and Renewable Energy (MNRE) has fixed a total capacity addition target of 14,550 MW for the current fiscal. In this, solar power is expected to add 10,000 MW and wind is supported to add a new capacity of 4000 MW.

During the 9-month period of this fiscal, the renewable energy sector has added 5602 MW of new capacity, of which 85 per cent of the capacity came from the solar segment. 

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