Axis Bank has reported around 18.3 percent growths in net profit at Rs 1,667 crore in the first quarter ended on 30th June, 2014-15. It had gained a net profit of Rs 1,409 crore in the April-June quarter of 2013-14 fiscal. Meanwhile, the board has sanctioned issuance of long term bonds or non- convertible debentures up to Rs 6,000 crore on a private placement basis said Axis Bank in a filing on the BSE. The company shares of Axis Bank have closed at Rs 398.70 per unit, up 1.18 percent on the BSE. Total income of the Axis bank raised around Rs 9,980.47 crore during the quarter under review as against Rs 9,059.12 crore in the similar period last year. Axis Bank net interest margin has increased up-to 3.88 percent in the April-June quarter, against 3.86 percent in the same period of the previous year. However, the net interest income rose to 16 % to Rs 3,310 crore from Rs 2,865 crore in the same quarter of a year. The bank's other income has went down to Rs 1,691 crore as compared Rs 1,781 crore in April-June quarter of last financial year.
Low fare carrier SpiceJet had the highest flight occupancy of 79.4% in July, while IndiGo’s has slide down to 67%, according to data released by DGCA on Wednesday 20th August. According to sources SpiceJet has controlled around 20.9% of the market in July compared to 19% a month earlier. Meanwhile, Jet Airways and JetLite's have shared approximately 19.6%, the same as the previous month.According to DGCA data Air India Ltd’s occupancy rate was at 69.6%, Jet Airways (India) Ltd’s at 64.2%, GoAir at 69.7%, Air Costa at 65.5% and AirAsia India at 69.8%. IndiGo has carried highest number of domestic passengers at 16 lakh followed by SpiceJet at second place at 10.92 lakh and Air India at 9.4 lakh in July. This is SpiceJet's second best successes for its aggressive discounted fares and the company is the highest seat occupancy levels at 81.4% last year. SpiceJet has earned market share from 17.8% in March. SpiceJet has released a report that the company has lost of Rs 124.10 crore in April-June, its fourth straight quarterly loss, compared to a net profit of Rs 50.56 crore a year earlier.
HDFC Bank is considered as India's most valuable brand says global research agency Millward Brown, where it has released a statement Top 50 Most Valuable Indian Brands. HDFC Bank is standing at top place as India’s most valuable brand with a value of $9.4 billion followed by Airtel with ($8.2 bn), State Bank of India ($6.8 bn), ICICI Bank ($3.5 bn) and Bajaj Auto ($3 bn) are the top five leading brands. The mutual brand value of all the top five brands in the ranking is almost $70 billion.HDFC Bank has vast network of over 3,400 branches and 11,250 ATMs in more than 2,100 cities, while it is most popular for its 28 million customers for launching mobile apps to make net banking easier, running literacy, education and skills training programs in rural areas says WPP. Airtel is India's largest telecom service by subscriber base with around 300 million customers came second in the rankings while India's largest lender SBI (State Bank of India) at number 3 place in the Most Valuable Indian Brands rankings.
The Sultan of Brunei Hassanal Bolkiah has offered $2 billion for Sahara’s New York's Plaza Hotel, Dream Hotel and London's Grosvenor House hotel says reports. Sahara's chairman Subrata Roy has been negotiating a sale of Sahara luxury hotels from a makeshift office in prison, where he was in prison for more than five months after failing to appear at a contempt hearing in a long-running dispute over his company’s failure to pay back billions of dollars to investors. Sahara's three luxury hotels are valued approximately $1.72 billion. London’s Grosvenor House was valued at $879 million, the New York’s Plaza Hotel worth of $592 million and the Dream Downtown worth at $252 million. According to sources Subrata Roy had managed to get a offer for the London Hotels, around 46% more than a Bank of China valuation and New York Hotels offer 9% higher than the estimated valuation.Sahara group has failed repay around Rs 24,000 crore to investors, who were sold outlawed bonds. Meanwhile, the Sultan of Brunei officials have announced that the discussions will go throughout the summer with representatives of Sahara and the agreement is likely to finish as early as next month.
Tata Steel has sign-up a deal of series with Subsea 7, which it is one of the world's leading contractors in engineering, construction and subsea services. Tata Steel contracts worth £10 million (Rs 82 crore) with Subsea 7 to supply undersea pipes to four separate North Sea projects. According to sources Tata Steel has signed for a four years contract over the past year and worth an estimated £10 million in total, which it will supply in excess of 55km of pipe weighing more than 9,000 tones. Tata Steel and Subsea 7 also signed a global framework agreement like cements and formalizes, as the companies' long-standing partnership, began 25 years ago.Under the contracts, Tata Steel will supply around 28km of carrier pipe, more than 27km of sleeve pipe, girth welding and triple jointing and the application of Glass Flake Epoxy pipe coating. Meanwhile, the pipes will manufactured at Hartlepool pipe mills in United Kingdom, before being welded and coated at its offshore processing centre. Tata Steel Richard Broughton said we have provided more than 83,000 tones of pipe to Subsea 7 for 37 projects all around the world from past 25 years.
Tata Motors has launched Zest, it’s a compact sedan built on a new platform with the base petrol variant starting at a price of Rs 4.64 lakh. It also includes boasts user-friendly features such as touch-screen control panels. Meanwhile the base diesel variant will also available at Rs 5.64 lakh (ex-showroom Delhi).Tata Zest has manufactured at the Pimpri and Ranjangaon plant in Pune, which it comes on a completely modified X1 platform with the Revotron 1.2T, the first engine from the new family of gasoline engines from Tata Motors and it will be India's first Turbocharged Multi-point Fuel Injection (MPFi) petrol engine.The Zest is now available with a petrol and a diesel engine, where the petrol engine is Tata's new turbocharged 1.2-liter Revotron engine and it is capable of producing 90 PS (88.73 bhp) and 140 Nm of torque and comes with a 5-speed manual transmission. Meanwhile the diesel Zest comes in a Fiat-sourced 1.3-liter Multijet engine to make 90 PS (88.73 bhp) and 200 Nm of torque. The Zest diesel is available with a 5-speed manual or a segment first 5-speed automated manual transmission (AMT). Tata has released a statement that its domestic car sales slide down around 39% year-on-year in the year, which ended on 31st March and its market share also slips to 4.2 percent at end-June from 10.2 percent two years ago.
Sun TV Network has slide down around 5% to Rs 400, where the company has reported lower-than-expected 1% year on year (yoy) growth in net profit at Rs 166 crore the first quarter ended on 30th June 2014. Its Indian Premier League franchise Sunrisers Hyderabad has given a report that operating loss of Rs 43 crore for the June quarter. Meanwhile the Sun TV Network has engaged in broadcasting and cable TV business, which was registered a profit of Rs 164 crore in the same quarter. The total income from operations of the company raised around 5 percent to Rs 634 crore on year on year (yoy) basis. The company has released as statement that during the quarter under review it has earned operating loss of Rs 43 crore from its IPL franchise Sunrisers Hyderabad. According to sources the stock has opened at Rs 412 and slide down a low of Rs 397 on NSE. During the first quarter ended on 30th June, 2014, the EBITDA and IPL revenue was increased by 4% at Rs 368 crore and the IPL revenue was grew by 7% at Rs 411 crore, as compared to Rs 384 crore in the previous quarter ended on 30th June, 2013.
AirAsia India has announced that flight ticket fare discounts is as low as Rs 438 and it will be available till 9th August. Airlines has announced that book a flight ticket from Chennai-to-Bangalore at this rate for travelling between 11th August, 2014 and 29th January, 2015, where choose to book tickets from Bangalore to Chennai, Goa and Kochi starts from Rs 635 onwards.AirAsia India also confirmed to start flights from Bangalore to Jaipur and Bangalore to Chandigarh from 5th September, 2014. Meanwhile Bangalore-Jaipur and Bangalore-Chandigarh routes tickets will begin from Rs. 3,999 in another special offer. According to sources Domestic budget carriers GoAir, SpiceJet, and Indigo had been providing another sale offer with best fares starting from Rs. 1,699 in a limited period in India.AirAsia India CEO Mittu Chandilya said the airline has not yet confirmed the next route expansion, but he is excited about Chandigarh and Jaipur route.
Audi has launched A3 sedan in India and it is set ready on a mission to compete against all cars in its price range. Audi A3 sedan is now available in two engine options, similar to Audi in A4. Audi A3 petrol features 1.8 liter TFSI engine that produces 180 PS maximum power @ 5,100-6,200 rpm while same motor in A4 produces 170 PS @ 3,800-6,200 rpm. Meanwhile, Audi A4 contains 3.0 liter TFSI petrol engine pushes out 333 PS @ 5500-6500 rpm and 440 Nm @ 2900-5300 rpm. The Audi company is expecting A3 might increase sales up-to 15% of its annual sales and lead over German rivals Mercedes and BMW. However, Audi has sold around 10,000 cars in 2013. The New Audi A3 powered with 2.0 liter TDI produces 143 PS @ 5100 – 4200 rpm and 320 Nm @ 1750 – 2500 rpm, while compare to A4 with 2.0 liter TDI in two tunes with 150 PS @ 4200 rpm and 177 PS @ 4200 rpm, generating 320 Nm @ 1750 – 2500 rpm and 380 Nm @ 1750 – 2500 rpm.Audi A3 2.0 35 TDI pricing starts from at Rs. 22.95 lakhs in ex-showroom Delhi, while A3 40 TFSI is priced at Rs. 28.95 lakhs. Meanwhile, Audi A4 2.0 TDI base variant price starts at Rs. 25.99 lakhs and 1.8 TFSI edition starts at Rs. 29.86 lakhs and Audi S4 costs Rs. 52.64 lakhs.
Bharti Airtel has been planning to lift around Rs 2,125 crore by selling up to 8.5 crore shares in its tower business at a floor price of Rs 250 per share on Thursday.According to sources Bharti Airtel has released a statement that it will sale up to 45,000,000 equity shares of Rs 10 each of Bharti Infratel would be sold on 7th August, where the sale on the separate window will be provided by BSE and NSE. Bharti Airtel also announced that floor price at Rs 250 today. However the sale process will begin at 9.15am and will end on same day at 3.30 pm. .The allocation of shares would be on the price priority method. One-fourth of the total offer has been kept reserved for allocation to mutual funds. Bharti Infratel's shares has closed at Rs 270.90 apiece, slides 1.53 per cent over the previous closing in BSE.Report says Bharti Airtel is going to complete the sale of Africa towers business in August, where the remaining towers is likely to be sold within the month bringing USD 1.2-1.5 billion.
Two-wheeler TVS Motor Company has announced statement that the company has increased sales up-to 32.15 per cent in its total sales at 2,03,092 units in July 2014. TVS company had sold out only 1,53,676 units in the same month in 2013 compare to 2,03,092 units. TVS Scooters sales has raised to 64% to 60,619 units in July 2014 equate to 36,900 units in the corresponding month last year. Meanwhile, Motorcycles sales climb by 33% to 76,767 units in last month as compared to 57,886 units in the same month in 2013. TVS Motor Company also announced that three-wheelers sales rose by 28% at 8,964 units as next to 4,712 units in July 2013. During July month, the company exports grew by 41% to 26,145 units as compared to 36,986 units in the corresponding month in 2013. According to sources TVS Motor Company has given a report on 1st August, 2014,that TVS Motor Company has closed at Rs 152.45, up Rs 0.00, or 0.00 percent. TVS Motor Company has been trailing a 12-month (TTM) EPS was at Rs 5.94 per share as per the quarter, which was closed in June 2014. The TVS stock's price-to-earnings (P/E) ratio was 25.66, while the latest book value of TVS company standing at Rs 29.79 per share. At current value, the price-to-book value of the company is 5.12.
The Indian rupee has slide down in half a year on Friday in global markets, as the spurred banks to acquire the government note for their corporate clients, prompting mild intervention from the central bank. The Indian rupee has opened lower at 60.24 a dollar on Thursday morning, while it has fall down 18 paise compare to earlier day's closing value of Rs. 60.06 per dollar. The managing director at QuantArtMarket Solutions insists that Indian market was in a complacent mode with elevated asset prices, where the US employment data needs to become strong to increase value of Indian Rupee. Indian rupee has closed at 61.18/19 per dollar against Thursday close of 60.55/56, where the local currency dips 1.02 percent on the day and it is biggest fall since 24th January during emerging markets were gripped by risk aversion over China's economy. Meanwhile, the shares have dampened sentiment, with the 50-share NSE index falling 1.5 percent tracking weaker global markets. According to sources Agam Gupta of Standard Chartered insists that said Indian Rupee is likely to trade in between 60.20-60.45/dollar, while the market contestants will keep eye on Ukraine and the Middle East conflict.