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