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