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

Among the 3 key businesses of Bajaj Finserv, general insurance and lending fared well while life insurance remained weak in Q1, FY15. We expect consistent performance from lending and general insurance business to continue and life insurance business growth to pick up in Q2FY15.

 Bajaj Allianz General Insurance: Gross written premium grew 7 per cent YoY, which is higher than private general insurance industry average.

Bajaj Allianz Life Insurance: Business growth was weak due to recent regulatory changes. Management focus on improving persistency is now bearing fruits as decline in renewal premium slowed (down 9 per cent vs. 39 per cent in Q1FY14).

Bajaj Finance: Overall loan growth (AUM up 40 per cent YoY, disbursements up 48 per cent YoY) was much above our estimate led by Consumer and SME segments. However, management expects growth rates to normalise and maintains its earlier guidance of 20-25 per cent business growth for FY15.


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