Jet expands international services; boosts Gulf link

Private carrier Jet Airways  today expanded its international operations with launch of services to Vietnamese commercial hub, Ho Chi Minh City via Bangkok and additional flights to the Gulf.

The enhanced frequencies from Mumbai to Doha, Colombo and Bangkok will provide guests with the convenience of an additional service, Jet Airways said in a release.

The rollout of a third daily direct service from Mumbai to Bangkok will provide onward connectivity to Ho Chi Minh City from Thailand capital (Bangkok), it said.

The new afternoon service will make Jet the only Indian carrier to operate three flights a day from Mumbai to Bangkok's International Suvarnabhumi Airport as well as providing onward connections to Ho Chi Minh City from the Thai city, the private carrier said.

Passengers from Mumbai will now have the option of connecting to Ho Chi Minh City and to several destinations of their choice in ASEAN region while they transit over Bangkok, the airline said.

The addition of a second frequency from Mumbai to Doha will further strengthen Jet's growing international network and significantly enhance connectivity in the Gulf region, thus complementing the existing flights on the sector.

Doha is currently served by one flight each from Mumbai, Delhi and Kochi. The new flight on this high demand route will not only cater to the growing Indian expatriates but also boost tourism and trade and help in bringing in traffic to and from West Asia, the carrier said.

"Jet Airways is delighted to introduce these additional frequencies from Mumbai to Doha, Colombo and Bangkok that will afford its customers the convenience of seamless travel and unmatched flight options," Senior Vice-President (Commercial) Gaurang Shetty said.

With these new flights, Jet will become the first private airline in India to operate over 40 daily flights to multiple destinations in the Gulf, the release said.

Jet operates daily flights to Abu Dhabi, Bahrain, Dubai, Doha, Kuwait, Sharjah, Muscat, Jeddah and Riyadh, making it the largest operator between India and the Gulf.

Besides adding flights to Gulf, Jet has introduced a second direct service on the Mumbai-Colombo-Mumbai sector, providing onward connections to Dubai and Abu Dhabi to the Gulf, Bangkok, Singapore and Hong Kong in the Far East and to North America via Brussels and London Heathrow with direct and codeshare flights, it said

Jet Airways stock price

On November 03, 2014, Jet Airways closed at Rs 240.45, up Rs 8.20, or 3.53 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.23.

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Maruti to invest Rs 4,000cr in key areas over 2-3 years

Country's largest car maker Maruti Suzuki India is investing up to Rs 4,000 crore in the next 2-3 years in key areas like product development, R&D and marketing infrastructure, a senior MSIL official said today.

Country's largest car maker  Maruti Suzuki India is investing up to Rs 4,000 crore in the next 2-3 years in key areas like product development, R&D and marketing infrastructure, a senior MSIL official said today.

MSIL would also focus more on bringing out models with auto gear shift technology, going forward, executive director- engineering, CV Raman said.

"Currently Rs 4,000 crore worth of investments are going into research and development, product development and marketing infrastructure over period of two to three years (including the current year)," he said, on the sidelines of the launch of the company's new version of Alto K10 hatchback.

"We will be improving our R&D capability. We are setting up test labs and other facilities. Marketing infrastructure such as setting up stockyards will be created," Raman added.

The company is expected to come out with a SUV- XA Alpha- next year, he said. Replying to a query, Raman said as of now there are no plans to make diesel engines while Suzuki is working on various types of engines in diesel.

On the reports of crash test failure of Swift, Raman said the car meets all standards set by the Indian government.

"All MSIL as well as other vehicles comply with Indian regulations. As far as the Swift is concerned, the test is not mandatory in India. There is no regulation to pass that test," he said.

According to the Global NCAP, an umbrella body of consumer car safety testing bodies, crash tests of Nissan's Datsun GO and Maruti-Suzuki's Swift demonstrated a high risk of life-threatening injuries with both cars receiving zero-star safety rating for their adult occupant protection.

He asserted that the Global NCAP report will not have any impact on Swift sales. The production of auto gear shift models is being ramped up to meet the market demand, he said.

"Currently, roughly about 4,000 vehicles (are being produced) per month with AGS technology and going forward will ramp up this number. We feel that the two pedal technology is very relevant now. Obviously the auto gear models would increase the volume. Maybe in future we look at coming out with more models in AGS," he said.

Raman said the sales of diesel vehicles could go up as the price difference between petrol and diesel is narrowing.

Maruti Suzuki stock price

On November 03, 2014, Maruti Suzuki India closed at Rs 3285.60, down Rs 52.75, or 1.58 percent. The 52-week high of the share was Rs 3349.00 and the 52-week low was Rs 1541.25.

The company's trailing 12-month (TTM) EPS was at Rs 102.82 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 31.95. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 4.73.

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We can produce 2,500 trucks, 1,000 buses: Scania

According to Scania, e-auctioning of coal blocks will lead to increased demand for trucks in the coming months and the company will be ready to take advantage of this opportunity through its Karnataka-based plant, which will be fully operational in March 2015.

We have been fully operational with the trucks already one year now and we are now starting up our bus factory

Anders Grundstromer

MD

Scania India

Swedish commercial vehicles maker Scania expects the sales of trucks and buses to get a boost in the coming months. According to Scania, e-auctioning of coal blocks will lead to increased demand for trucks in the coming months and the company will be ready to take advantage of this opportunity through its Karnataka-based plant, which will be fully operational in March 2015. CNBC-TV18's Rituparna Bhuyan spoke to Anders Grundstromer, the company's MD on India plans.

Below is the transcript of Anders Grundstromer's interview with CNBC-TV18's Rituparna Bhuyan.

Q: Your take…

A: We think the market has bottomed out and that we can expect a growing commercial vehicle market in India in the coming years.

Q: When do you expect your production facility to be fully operational, can you share some timelines with us?

A: We have been fully operational with the trucks already one year now and we are now starting up our bus factory. We will have the inauguration on March 13 next year and then you can see a full fledged manufacturing unit.

We can produce about 2,500 trucks and 1,000 buses and we already now see that we will very soon come to the maximum capacity which means that we have to go to double shift and in the later stage also extend these factories.

Q: If you see the demand for both your trucks and buses increasing is there a possibility that in the future you might need to scale up your production facility or in fact think of having a second or third production facility in India? Is Scania open for such a strategy as far as production is concerned?

A: We make three year strategy plans with an outlook to 2020 and if we are correct we will definitely to do more investments.

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Flipkart recast: Bansal's role expanded, CFO leaves

Flipkart Vice-President (Marketplace) Ankit Nagori's role has also been expanded and he will now be responsible for books and general merchandise categories as well.

In significant top management level changes at Flipkart, interim CFO Kalyan Krishnamurthy is leaving the firm and Fashion Head Mukesh Bansal will now be the marketing chief of the home grown e-commerce major.

Flipkart Vice-President (Marketplace) Ankit Nagori's role has also been expanded and he will now be responsible for books and general merchandise categories as well.

Krishnamurthy, who joined the Bangalore-based firm from investment company Tiger Global in 2013, was also Senior Vice President, Retail. His last day at Flipkart is November 15 and he is expected to join Tiger Global back, a source said.

Besides heading the marketing division, Bansal, who founded online fashion retailer Myntra, which was acquired by Flipkart in May this year for about Rs 2,000 crore, will also look after consumer electronics and computer categories, the source added. Bansal joined the Flipkart board following Myntra deal.

When contacted, a Flipkart spokesperson said: "Flipkart is a new age and agile company and organisational changes are regular for us. Realigning roles and responsibilities help us keep pace with our aggressive growth and the dynamic environment we operate in."

Bansal, Nagori and Krishnamurthy will hold meetings with stakeholders to chalk out a transition plan. 

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Cyclone-hit Rashtriya Ispat Nigam resumes production

"After the devastating cyclone on October 12, 2014, RINL swung into action for speedy revival. Production in all the units including Rolling Mills has been revived," the steel maker said in a statement.

Rashtriya Ispat Nigam Ltd resumed production today after suspending operation for three weeks due to devastation by the cyclone 'Hudhud'.

"After the devastating cyclone on October 12, 2014, RINL swung into action for speedy revival. Production in all the units including Rolling Mills has been revived," the steel maker said in a statement.

Expressing satisfaction over faster revival of production, RINAL CMD P Madhusudan said the steel maker could revive operations in three weeks time despite breakdown of major water supply line in Power Plant leading to tripping of captive power generation and delaying the process of recovery by three days.

He thanked trade unions, Steel Executive Association and other Associations of RINL, the District Administration, APTransco, Power Grid, Ministry of Steel, State and Central Governments for the support extended in the revival process, it added.

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Tata Steel proposes to revise package for Gopalpur project

"We have submitted a fresh compensation package to Odisha government. The package will be announced after the government gives its go-ahead," Vice-president of the project Arun Mishra said yesterday.

Tata Steel  has proposed to revise the compensation package for families displaced by its Gopalpur project in Ganjam district.

"We have submitted a fresh compensation package to Odisha government. The package will be announced after the government gives its go-ahead," Vice-president of the project Arun Mishra said yesterday.

In 1996, people of Sindhigaon, Badapaur, Patrapur, Kalipalli and Paikapada villages near Gopalpur were displaced when the company acquired 2,970 acres for the then proposed shore-based mega steel plant. People of eight other villages were affected by the project, officials said.

Tatas later shelved the project and decided to set up an industrial park and multi-product special economic zone (SEZ). Chief Minister Naveen Patnaik laid the stone of the proposed park in August 2010.

The delay in execution of the project has led to the discontent among the displaced. Besides a special package in tune with the Resettlement and Rehabilitation (R&R) Policy, they are demanding permanent job to one member of every affected family.

Tata Rehabilitation Village Development Committee had submitted a memorandum to Tata Group's chairman Cyrus P Mistry during his visit to the area on September 2. It had demanded Rs 15 lakh compensation each to the affected families and fresh enumeration of those displaced by the project.

"The company will formulate a recruitment policy and submit it to the district administration. A skill development centre will be set up in the district to train local youths," Misra said.

He said the Gopalpur project was a priority for the company. "We'll be setting up a ferro chrome plan of 55,000 tonne per annum capacity, as an anchor project in the proposed park at a cost of Rs 400 crore. The plant is likely to start operation by March 2015," said Misra.

Around 350 people would get direct and indirect employment opportunities from the plant, he said.

"Another ferro chorme plant of 2.4 lakh ton per annum capacity will be set up at same place for which environment clearance has been sought," he said.

Tata Steel stock price

On October 31, 2014, Tata Steel closed at Rs 489.35, up Rs 14.95, or 3.15 percent. The 52-week high of the share was Rs 578.60 and the 52-week low was Rs 324.25.

The company's trailing 12-month (TTM) EPS was at Rs 75.41 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 6.49. The latest book value of the company is Rs 629.60 per share. At current value, the price-to-book value of the company is 0.78.

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VE Commercial Vehicles sales up marginally in October

The company, which is a 50:50 joint venture between Volvo Group and Eicher Motors, had sold 3,001 units in the same month last year.

Auto maker VE Commercial Vehicles today reported a marginal increase in total sales of its Eicher branded products at 3,052 units in October.

The company, which is a 50:50 joint venture between Volvo Group and Eicher Motors , had sold 3,001 units in the same month last year.

Domestic sales registered a decline of 5.42 per cent to 2,494 units in October this year as against 2,637 units in the same month year ago, VE Commercial Vehicles (VECV) said in a statement.

However, exports of Eicher trucks and buses grew by 53.29 per cent to 558 units last month as against 364 units in October 2013, it added.

Eicher Motors stock price

On October 31, 2014, Eicher Motors closed at Rs 12769.50, up Rs 222.05, or 1.77 percent. The 52-week high of the share was Rs 12837.60 and the 52-week low was Rs 3855.00.

The company's trailing 12-month (TTM) EPS was at Rs 158.68 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 80.47. The latest book value of the company is Rs 303.07 per share. At current value, the price-to-book value of the company is 42.13.

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Toyota Kirloskar sales down 12% in October

The company had sold 15,576 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

Toyota Kirloskar Motor today reported 11.94 percent decline in total sales at 13,716 units in October 2014.

The company had sold 15,576 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

In the domestic market, TKM sold 12,556 units in October 2014, down 4.6 per cent as compared to 13,162 units in October 2013. During the month, the company exported 1,160 units of Etios.

Commenting on the sales performance, TKM Senior Vice President (Sales and Marketing) N Raja said: "We have maintained the sales volumes as September, in the domestic market and hope to see growth in the next two months".

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Diageo completes sale of Whyte Mackay to Emperador

Diageo had to sell Whyte & Mackay when it decided to take over United Spirits. This was after the UK competition watchdog raised anti-trust issues. Whyte & Mackay was sold for 430 million pounds.

Diageo had to sell Whyte & Mackay when it decided to take over United Spirits . This was after the UK competition watchdog raised anti-trust issues. Whyte & Mackay was sold for 430 million pounds.

United Spirits stock price

On October 31, 2014, United Spirits closed at Rs 2761.75, up Rs 27.40, or 1.00 percent. The 52-week high of the share was Rs 2940.55 and the 52-week low was Rs 2226.00.

The latest book value of the company is Rs 262.47 per share. At current value, the price-to-book value of the company was 10.52.

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Bank of Baroda revises interest rates on term deposits

Bank of Baroda has revised its interest rates on term deposits up to Rs 1 crore. Interest on term deposits of one to three years by 15 bps. Rates on term deposits for 3-10 years have been cut by 30 basis points, the rates will be effective from November 1.

Bank of Baroda  has revised its interest rates on term deposits up to Rs 1 crore. Interest on term deposits of one to three years by 15 bps. Rates on term deposits for 3-10 years have been cut by 30 basis points, the rates will be effective from November 1.

Bank of Baroda stock price

On October 31, 2014, Bank Of Baroda closed at Rs 930.50, up Rs 18.15, or 1.99 percent. The 52-week high of the share was Rs 1009.00 and the 52-week low was Rs 509.00.

The company's trailing 12-month (TTM) EPS was at Rs 109.94 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 8.46. The latest book value of the company is Rs 835.56 per share. At current value, the price-to-book value of the company is 1.11.

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