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