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