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