Sajan C Kumar

Articles By Sajan C Kumar

411 Articles

City Union Bank to start pushing non-gold loan advances by FY22-end

He said that post Covid, only 4% to 5% of the transactions has been happening through the branches creating a huge capacity once the growth pace picks up.

N Kamakodi, MD & CEO of CUB, recently said during an analysts’ call that when the growth of other credit increases, correspondingly the growth of gold loan would also decrease.

EID Parry plans upwards of Rs 350 crore capex for 2 fiscals

EID Parry has been working towards the debt reduction mode on a periodical basis and the debt position has been much better compared to what it was as of March 2021.

As far as the short-term loan is concerned it was Rs 355 crore in March 2021 and the company is are currently at Rs 102 crore, he said.

Three-wheelers, CVs see jump in retail sales on low base, govt’s infra push

Ashok Leyland registered a growth of 13% in domestic wholesales in October 2021 while Tata Motors' domestic CV sales increased by 20%. All details below.

tata new commercial vehciles

Two-wheeler majors eye festive boost to retail sales

Eicher Motors company Royal Enfield's sales volumes dropped by 35.4% to 40, 611 units in October 2021 from 62, 858, recorded a year ago. It exported 3,522 units against 4,033 units, registering a decline of 13%.

Ola postpones opening of next purchase window for e-scooters to Dec 16

Ola told the customers in the communication that if they had already paid `20,000 and secured the scooter during the first purchase window on September 15 and 16, then there was no change for them.

SSS Springs announces JV with South Korea’s Daewon for seating systems production

SSS Spring and Daewon enter a joint venture to set up a production facility of advanced seating systems. An investment of 170 crore will be made in two phases over a course of four years.

SSS Springs

With separate arm, TVS Motor eyes bigger play in EV space

KN Radhakrishnan, Director and CEO, TVS Motor, said in an earnings call that the company is investing more than Rs 1,000 crore to create an EV portfolio.

Still exploring alternatives for closure-bound factories: Ford

Ford Motor Company last month decided to cease local vehicle manufacturing in India. The company has said that it has nothing to announce relating to a possible takeover of its manufacturing plants by any third party at the m

ford forcing dealers to sign nda

NCLT allows Valli’s withdrawal plea on earlier waiver petition

“However, based up on just and equitable ground and up on perusal of the application and also based up on the averments made in the application, we are of the considered view that the withdrawal application is required to b

With this order in favour of Arunachalam, her fresh waiver application along with the company petition would now be taken up on October 13 and Murugappa Group family members can file responses to the plea.

Will work with stakeholders to help the affected workers: Ford

As a part of the exiting local vehicle manufacturing in India, Ford on September 9 had announced it will wind down vehicle assembly in Sanand by the fourth quarter of 2021 and vehicle and engine manufacturing in Chennai by th

NCLT reserves order on Valli Arunachalam’s withdrawal plea on earlier waiver application

The submissions of the counsels centered around Order 23 Rule 1 of the CPC as also the NCLT rules and both side advanced technical arguments on the same, with AIL pleading that the withdrawal application should not be allowed

NCLT, in its last hearing, had directed Arunachalam and her family (MVM family) to file a withdrawal plea on an earlier waiver petition, in order to file a fresh one, in their case against AIL and the Murugappa family members.

Tube Investments may enter two-wheeler EV market if there is profit pool: MD

In a recent earnings call, Vellayan Subbiah, MD, TII, told analysts he has been hearing from suppliers and competitors that even with the subsidies available, over time, some of the newer electric two-wheeler OEMs seem to be

Slippages this fiscal will be little below FY21 level: City Union Bank chief

At a recent earnings conference call, N Kamakodi, MD & CEO of CUB, said the total incremental slippages will be slightly better than the last financial year. The bank is expecting a better recovery in the second half of the c

Better realisation from sugar retail sales boosted bottom line in FY21: EID Parry

S Suresh, MD, EID Parry, in a message to shareholders in the annual report 2021, said its focus on improving efficiencies in the systems and processes, lowering interest cost, and better realisation from sugar retail and alco

The company continued to focus in strengthening its presence in the branded sugar retail market to benefit from higher realisations, healthy long-term prospects and a more stable realisation for its sugar.

TTK Healthcare eyes expansion for its medical devices business

The single centric clinical trial for the new model titanium valve would commence during the first half of the current year, according to the company.

The hip replacement products were launched in the second half of FY21 in select markets and the chairman said its response was encouraging.

Nissan committed to offering competitive package to employees at Renault-Nissan’s plant

Workers union at Chennai plant, Renault Nissan India Thozhilalar Sangham (RNITS) filed an industrial arbitration suit demanding Rs 20,000 as a monthly interim settlement after the expiry of a previous wage agreement in March

Wabag aims to be among world’s top three water technology firms

Rajiv Mittal, MD, VA Tech Wabag said the company will continue to maintain the fourfold focus in its long-term strategy by concentrating on emerging markets, asset-light business, technology while serving as a pure-play water

Domestic business to revive in second half, says Wheels India

The construction equipment market where the company is a supplier of wheels globally too is likely to grow this year.

TVS Motor looks to launch products in mid-to-premium segment to fill the gap

TVS is also making big moves on the EV front, it has earmarked `1,000 crore for the development of a full range of electric vehicles (EV) portfolio.

TVS electric scooter iQube Electric prices reduced prices cut by 11 thousand rupees

Capacity creation will help us grow in south, east markets: Ramco Cements

PR Venketrama Raja, chairman and MD, Ramco Cements, said its new capacities, coupled with a strong and growing distribution network, will help the company foray into new markets.

Ramco Cement, Capex

Priority is to bring CG Power back on track, says Tube MD

Subbiah said the rationale behind the acquisition was not only to drive inorganic growth but also to de-risk TII from the auto business and its cyclicality.

MRF working on developing raw materials locally to cut imports 

It is expected that despite the current unstable pandemic scenario across many global markets, the coming year should continue to see good demand for the company's products across all categories.  

Thrust on light-weighting of vehicles to help grow fast: Sundaram-Clayton

Sundaram-Clayton believes, in long term, due to stringent emission norms, fuel economy regulations and adoption of alternate drivetrain technologies, the thrust towards light-weighting was bound to increase, leading to higher

Covid compliance: Tussle at Renault-Nissan plant resolved

Taking note of the union's agreement to the report findings, the court has ordered the closure of the case.

It may be true the lockdown rules exempt manufacturers from shutting down their operations, but they probably need to pare operations significantly, purely on humanitarian grounds.

TVS Motor Company working to leverage opportunities in less Covid-hit countries

TVS Motor’s two-wheeler exports in 2020-21 stood at 7.6 lakh units, with a growth of 12% over 2019-20.

Valli Arunachalam accuses Murugappa family members of delaying tactics in NCLT

Valli, her sister and their mother, MV Valli Murugappan, have moved the Chennai bench of NCLT seeking waiver of the minimum 10% shareholding required to ensure the alleged oppression and mismanagement case against AIL is main

Aryama Sundaram, representing the family members, said their main argument is that the date of affidavit and the date of stamp paper for verification are different. He said their applications need to be heard first, prior to listening to the waiver matter.

Truck operators feel the heat

A survey said more than 50% of operators saw a substantial (over 25%) drop in market demand as against the March levels.

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