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