TVS Motor Company sees strong demand from West Asia: Company’s two-wheeler exports rise 35% in February 2021
TVS Motor, the flagship of the $ 8.5-billion TVS Group, exports to more than 60 countries. The company had recently appointed Timothy (Tim) Prentice as V-P, design.
Interview: We are poised for growth now, says Padmaja Chunduru, MD & CEO, Indian Bank
The Covid-19 crisis struck in the middle of the process to merge Allahabad Bank with Indian Bank, forcing us to bring to bear all the experience and skills one had acquired over the years. For this expertise, I would like to
TVS Motor sees strong demand from West Asia, recovery in other key global markets: Registers growth as high as 43% in exports
Despite the pandemic showing no signs of ending, TVS Motor Company has reported that it has been witnessing an increase in export demands for West Asia with customers leaning towards premium products more and more.
Royal Enfield eyes 10% share in mid-sized bikes segment in export market
The company has started its first offshore completely knocked-down (CKD) plant in Argentina in September last year and plans to set up three more plants in Thailand, Brazil, and Columbia.
Rough Road: Rising ownership cost hits sales of two-wheelers
Though the wholesales of two-wheelers had clocked a low double-digit growth of 10.20% in February, the Society of Indian Automobile Manufacturers (Siam) said it is still lower than the sales recorded in February 2018.
Valli moves NCLT, seeks minimum holding waiver
The petition also alleges that the structure and manner of holding of some of the companies has been altered without the consent of the petitioners, without them being informed and with malafide intent to partition the group
Aban seeks shareholders’ nod to sell assets to slash debt
The Chennai-based offshore drilling contractor, which has been in a financial mess for quite some time, will seek shareholders' approval to divest the assets at an emergency general body meeting (EGM) on March 29.
Tube ties up with Korean firm for electric three-wheeler design: All details
On the synergy of the existing business lines with the new venture, Subbiah said that the company wants to reduce dependence on just the automotive industry.
Royal Enfield evaluating opportunities to set up CKD facilities in APAC, LATAM regions
During the third quarter last year, Royal Enfield had launched the Meteor 350, an easy and accessible cruiser in India and across Europe, Thailand and Australia.
City Union Bank chief expects total recast at around 5-6%
Private sector lender City Union Bank (CUB) said the bank has identified accounts worth Rs 1,037 crore for restructuring during the fourth quarter of the current fiscal.
‘Doubled disbursement in Q3 sequentially, momentum sustainable’: YS Chakravarti, MD & CEO, Shriram City Union Finance
In December, we touched the pre-Covid level, and November was also okay. Overall, for the third quarter, I would say the collection efficiency was close to the pre-Covid levels.
Will focus on refinancing well-rated corporates where cash flows are strong: Padmaja Chunduru, Indian Bank MD
Indian Bank is looking at diversifying loan growth across sectors and geographies by targeting manufacturing, service and infrastructure companies with good rating.
TVS Motor Company now produces 17 percent of BMW bikes worldwide
The company has produced over 72,000 units of BMW 310cc motorcycles till June 2020, according to TVS Motor’s annual report for 2019-20.
Chennai metro: Work on Phase-II gets off the ground
The Chennai Metro Rail Limited (CMRL) expects to complete Phase-II work in six years' time.
Family-owned TVS Group restructures ownership model, holding company structure to be abolished
According to a stock exchange filing by the group on Thursday, the new arrangement will not affect the management and functioning of the company in any way, and business would continue without impacting any of the stakeholder
Indian Bank aims to grow MSME portfolio riding on mentoring programme
The bank’s MSME portfolio is of Rs 65,176 crore (17.34 lakh accounts), which is 18% of total advances portfolio. During the first half of 2020-21, the MSME portfolio had grown by 14.73%.
Family not even informed about reported restructuring, says Valli Arunachalam
Speaking to FE over phone, Arunachalam said that the restructuring exercise has been done to safeguard the Murugappa family's interests, rather than protecting the interest of the shareholders.
Ashok Leyland launches VRS for executive cadre; 5,700 employees eligible
NV Balachandar, president, HR, CSR and communication, ALL, told FE the objective of the VRS is to scale down the team, bring in efficiency and ensure executives do more value-added work.
Apollo Hospitals eyes inorganic growth, looking for acquisitions in east and north
The move comes close on the heels of the buyout of 50% equity stake held by IHH Healthcare (IHH), in Apollo Gleneagles Hospital, Kolkata (AGHL), a joint venture (JV) in which Apollo Hospitals group was holding a 50% equity st
Commotion at Lakshmi Vilas Bank branches as customers throng to withdraw money
Many of the depositors could not withdraw money due to technical glitches and were told that the software was still to be re-calibrated to meet the curtailed withdrawal norms.
NBFCs would have seen collection efficiencies beyond 95% in October: Analysts
Many NBFCs like Cholamandalam Investment and Finance, Shriram Transport Finance and Shriram City Union Finance have done well on the collection front, especially after the lifting of the moratorium by August 31, thanks to the
Lakshmi Vilas Bank for deal with Clix without compromising on its core interest
The bank said last week that a minor incremental due diligence which was requested by Clix Group had been completed and both the sides were in the process of finding a workable and mutually acceptable framework.
H2 FY21 will bring much-needed growth for CV makers: Ashok Leyland
Mahadevan says that as demand grows, plant utilisation will also increase. When that happens, not only the volume performance, but the operational performance of the company will also improve.
City Union Bank to focus on ECLGS, gold loans for now
After the moratorium period, accounts covering exposure of 94.53% to cash credit accounts (CC a/cs) or short-term loans and 85.70% to term loan accounts, totalling 90.52% of exposure, received payments.
Google secures Indian patent for auto-expanded language search
Under the invention, the volume of searched content gets expanded by including content written in different languages thereby potentially presenting a user with more relevant search results.
TVS Motor Company plans to improve capex to Rs 500 crore in FY21
The Chennai-based two-wheeler and three-wheeler major is also looking at investing Rs 40 crore in its recently-acquired Britain's legacy brand Norton and around Rs 50 crore in TVS Credit Service, its lending arm.
Lakshmi Vilas Bank to send two more names to RBI for top post, favours local CEO
On the rights issue, Sinha said the bank is readying all the papers. “Our merchant banker is on the job and will come back with its recommendations. Following that, we will decide on the ratio and the amount.”
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