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Mercedes-Benz India CEO clarifies why ‘SIPs are competition’. Here is what he said

January 7, 2023 by www.moneycontrol.com

Santosh Iyer, the newly-appointed MD and CEO of Mercedes-Benz India, sparked a debate in November when he said that systematic investment plans (SIPs) are the luxury car brand’s biggest competitor in the country. He has now clarified that his remarks were made in the context of luxury market growth. “The statement made was in the context of the luxury market growth, what will happen in three to five years’ time,” Iyer told Moneycontrol in an interview . In November, Iyer, who was then the sales and marketing head of Mercedes-Benz India, had told Times of India that SIPs in mutual funds were eating into luxury car sales in India. If a potential customer diverted Rs 50,000 into buying a luxury car instead of investing through SIPs, the luxury car business would “explode,” Iyer had said. “The context of the discussion is that there are a couple of factors to change,” he clarified in a January interview with Moneycontrol. These factors, he said, included the fact that the … [Read more...] about Mercedes-Benz India CEO clarifies why ‘SIPs are competition’. Here is what he said

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Bajaj Finance revises Fixed Deposit rates to up to 8.10% p.a.: Invest online

January 20, 2023 by www.moneycontrol.com

Fixed deposits (FDs) have invariably been a popular instrument for investors to diversify their portfolios. It is a low-risk investment option as the FD rates remain immune to market fluctuations till the deposit matures. With the surge in, the repo rate (a cumulative increase of 225 bps since August 2018), Bajaj Finance has also adjusted its fixed deposit (FD) interest rates once again by up to 40 bps. Risk-averse investors can now secure a maximum interest rate of 8.10% p.a. on their deposits, and thereby diversify their investment portfolio and earn a higher return simultaneously. A comparison of old and new interest rates for cumulative FD for is given below: Customers below 60 years of age Senior citizens Period (months) Old Interest Rates Revised Interest Rates Old Interest Rates Revised Interest Rates 12 - 23 months 7.05% p.a. 7.15% p.a. 7.30% p.a. 7.40% p.a. 15 months 7.20% p.a. 7.30% p.a. 7.45% p.a. 7.55% p.a. … [Read more...] about Bajaj Finance revises Fixed Deposit rates to up to 8.10% p.a.: Invest online

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Buy ICICI Lombard General Insurance Company, target of Rs 1400: Sharekhan

January 28, 2023 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on ICICI Lombard General Insurance Company ICICI Lombard reported PAT of Rs. 346 crore (up 9% y-o-y/ down 41% q-o-q) which missed our estimates mainly due to lower investment income and lower premium income. Underwriting loss stood at Rs. 293 crore in Q3FY23 versus a loss of Rs.269 crore in Q3FY22 and loss of Rs. 152 crore in Q2FY23. Gross written premium grew by 17% y-o-y/5.6% q-o-q led by faster growth in commercial lines and Retail/group health segment; while motor business was a laggard with 5% y-o-y growth due to 1% y-o-y growth in Motor OD. Motor TP premium grew by 10% y-o-y. Retail health premium picked up, grew by 24% y-o-y & Group Health grew by 57% y-o-y. The combined ratio was at 104.4% vs 104.5% in Q3FY22 and 105.1% in Q2FY23. Claims ratio decreased … [Read more...] about Buy ICICI Lombard General Insurance Company, target of Rs 1400: Sharekhan

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Buy Maruti Suzuki; target of Rs 10,600: Prabhudas Lilladher

January 28, 2023 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Prabhudas Lilladher's research report on Maruti Suzuki We increase our EPS estimates by 6/3/1% for FY23/24/25 as we build in higher realisations led by improved product mix along with volumes for newly launched Jimny and Fronx. In 3QFY23, Maruti’s (MSIL) EBITDA margin at 9.8% expanded 50bps QoQ led by (1) better-than-expected realisations (Rs 623k, +8% QoQ) driven by increased contribution from UVs (21% vs 16% sequentially) and (2) benefit from raw material cost softening (+40 bps QoQ). The company currently has order book of 363k units of which ~33% is contributed by new models – Brezza, Vitara, Baleno. Newly launched Jimny (off-roader) and Fronx (compact SUV) have also received good response and deliveries are expected to commence from beginning of FY24. This will lead to increased … [Read more...] about Buy Maruti Suzuki; target of Rs 10,600: Prabhudas Lilladher

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Air India likely to seal half of jumbo plane order with Boeing today

January 27, 2023 by www.moneycontrol.com

January 27 marks one year of Air India (AI) returning to the Tata fold Air India is set to place an order for 190 Boeing 737 MAX narrow body planes along with 20 Boeing 787s and 10 Boeing 777X today, a Reuters report quoted industry sources as saying. The order comes on a day when Tata Group will mark the first anniversary of its acquisition of Air India from the government. This is half of the order worth billions of dollars for around 495 jets, the report quoted industry sources as saying. This is part of an effort by the Tata group to make Air India more competitive in a tough aviation market. The other half of the order, sources told Reuters, is expected to be completed over coming days. This includes around 235 Airbus single-aisle jets and about 40 Airbus A350 widebody aircraft. The order comes at a time when the travel industry is seeing a strong post-COVID surge. Read More Flying high Marking the first anniversary of the take over, Air India … [Read more...] about Air India likely to seal half of jumbo plane order with Boeing today

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DLF plans to launch in February Rs 7500 crore worth premium housing project in Gurugram

January 27, 2023 by www.moneycontrol.com

DLF Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. "We are planning to launch next month a premium residential project in Sector 63 Gurugram. The estimated sales realisation of this project will be around Rs 7,500 crore," he said. "Demand for real estate across various price points is very strong, especially for products offered by trusted developers," Ohri said. DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore. Read More DLF's sales bookings … [Read more...] about DLF plans to launch in February Rs 7500 crore worth premium housing project in Gurugram

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Hinduja Global Solutions fixes March 6 as record date for Rs 1,020 crore buyback

January 27, 2023 by www.moneycontrol.com

Under the scheme, Hinduja Global will buy back 60 lakh shares from eligible shareholders (Representative image) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Hinduja Global Solutions on January 27 informed the exchanges that its board has fixed March 6 as the record date for the planned share buyback worth up to Rs 1,020 crore. The buyback price has been fixed at Rs 1,700 per share, the outsourcing solutions provider said in a regulatory filing, adding that the the buyback size does not include the transaction costs incurred. Hinduja Global added that these terms of buyback are within the maximum limits approved by the board in its meeting on December 19, 2022 , and as approved by shareholders as a special resolution voted through postal ballot, the company said. Results of the postal ballot were announced on January 27. … [Read more...] about Hinduja Global Solutions fixes March 6 as record date for Rs 1,020 crore buyback

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Noma, one of the world’s best restaurants, is closing its doors

January 10, 2023 by www.moneycontrol.com

And you already thought it was difficult to get a reservation at Noma. The Copenhagen restaurant, one of the world’s most famous and a top destination for food tourism, has given notice that it will permanently close its doors to regular service. The good news for fine-dining groupies: The closing won’t come until the end of 2024. Rumors that Noma would close have been swirling for months. Rene Redzepi, chef-owner of Noma, said Monday that it wasn’t possible to make the math of fine dining work for his almost 100 employees and himself. “We have to rethink the industry,” he told the New York Times. In 2021, the restaurant lost money, even with government support, while selling $700 lunches, although it said it expected a better result in 2022. The restaurant is currently offering a seasonal tasting menu including sika deer, game birds and reindeer with forest-scavenged mushrooms and berries for 3,500 Danish kroner ($500), with a 1,800-kroner wine pairing. A Noma … [Read more...] about Noma, one of the world’s best restaurants, is closing its doors

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Boeing, GE, CFM International meeting Air India officials today: Sources

January 27, 2023 by www.moneycontrol.com

An Air India aircraft. Top officials from aircraft manufacturer Boeing, and engine suppliers General Electric Aviation and CFM International will meet officials from Tata Sons and Air India in Mumbai on January 27, sources said. While the first two are American companies, CFM International is a 50:50 Franco-American joint venture between GE Aviation and Safran Aircraft Engines. "There is a closed-door meeting today in Mumbai between Natarajan Chandrasekaran, Campbell Wilson, Stanley Deal, François Planaud, Tom Levin, Salil Gupte, Ahmed Elsherbini, and other top officials from GE and CFM International," an airline official said. Natarajan Chandrasekaran is the Chairman of Tata Sons. Campbell Wilson is the CEO and MD of Air India, and Stanley Deal is the CEO of Boeing Commercial Airplanes. François Planaud is the Executive Vice-President, Support and Services, at Safran Aircraft Engines, and Tom Levin is the Vice-President, After Market Strategic Solutions, at GE … [Read more...] about Boeing, GE, CFM International meeting Air India officials today: Sources

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Why are NCD IPOs important to invest in?

January 24, 2023 by www.moneycontrol.com

Everyone has the perpetual desire to earn and save money and has the expectancy to grow their money multifold. It’s a perennial search for options and one can equate the financial market to the ocean. The German linguist Heinrich Zimmer once described the ocean as “limitless and immortal, the beginning and end of all the things on earth”. Equivalently the financial market has never been run short of investment options or investment possibilities. Hence, the plethora of options for making money grows for future purposes, and people are caught in the middle of what options might be the better choice to get a Fixed return for a shorter or longer duration. As the ocean has the biggest fish, the finance market has the FD (Fixed Deposit) which has been predominantly trusted by investors. There are other better yield instrument options available, yet those instruments lack adequate trust among investors. Lately, equity, mutual funds, PPF, crypto, and Government bonds have become the … [Read more...] about Why are NCD IPOs important to invest in?

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