Maruti’s August Sales Rise 27%
The country’s largest car-maker Maruti Suzuki India a reported 26.9 per cent increase in its total sales in August at 1,10,776 units as against 87,323 units in the same month of previous year. Domestic sales during the month stood at 98,304 units, up 29.3 per cent from 76,018 units in August of previous year, Maruti Suzuki India (MSI) said in a statement. Sales of mini passenger cars, including Alto, A-Star and WagonR were up 8.3 per cent at 34,686 units as against 32,019 units in the previous year. MSI said during the month, sales of its compact cars, comprising Swift, Estilo, Celerio, Ritz and Dzire were at 46,759 units as against 30,512 units in the year-ago month, up 53.2 per cent.
ONGC Approves Rs 5,219 Cr For Daman Gas Project
State-owned petroleum explorer Oil & Natural Gas Corporation (ONGC) said its board approved a proposal to invest Rs 5,219 crore to enhance natural gas and condensate production from the Tapti Daman block in the Arabian sea. “The Daman Development Project is located 100 km from the Daman coast and includes additional development of C-24 field apart from monetisation of B-12 marginal fields,” the company said in a statement. Production from the project is expected to commence in July 2016 at a peak rate of 8.35 million standard cubic metres per day (mscmd) of gas and 9,286 barrel of condensate a day. The company is likely to produce a cumulative 27.6 billion cubic metre of gas and 5 million cubic metre of condensate over two decades to 2035.
National Housing Bank Net Rises
National Housing Bank (NHB) said its net profit in 2013-14 increased by eight per cent to Rs 487 crore. “Net profit increased from Rs 450 crore in FY 2012-13 to Rs 487 crore in FY 2013-14. Net Interest Margin (NIM) continues to be healthy at 2.27 per cent,” it said in a release. The total income of NHB increased by 16.4 per cent year-on-year to Rs 3,518 crore from Rs 3,024 crore, it said. Total interest income increased from Rs 3,007 crore in FY 2012-13 to Rs 3,502 crore in 2013-14.
AIRASIA Profit Jumps
Malaysia-based AirAsia announced a six-fold increase in second-quarter net profit as Asia’s budget travel leader increased revenue despite what it called a “challenging” aviation environment. Net profit was 367.2 million ringgit ($115 million), up from 58.3 million ringgit in the same quarter of 2013. AirAsia said the jump was mainly due to foreign exchange gains on borrowings. But it said revenue also grew five percent to 1.31 billion ringgit as passenger numbers increased slightly. AirAsia is led by flamboyant boss Tony Fernandes, a former record industry executive who acquired the then-failing airline in 2001. It has seen spectacular success and aggressive growth under his low-cost, low-overhead model.
SBI Opens 1.50 Lakh Bank Accounts In Tamil Nadu & Puducherry
The country’s largest public sector bank State Bank of India has opened over 1.50 lakh accounts under the Prime Minister’s Jan Dhan Yojana scheme in Tamil Nadu and Puducherry. During the campaign period, a record number of 1,50,189 accounts were opened against the targeted 1,25,400 bank accounts in Tamil Nadu and Puducherry, the bank said in a statement. State Bank of India, Chennai Circle, Chief General Manager, P S Prakash Rao conducted 1,927 camps to open bank accounts and as many as 1,899 business correspondents were involved for this purpose.
Tech Mahindra Launches National Mobile Job Marketplace
It services major Tech Mahindra announced the national launch of Saral Rozgar Cards with seeking to create a common pool of jobs and job providers. Saral Rozgar is a mobile job marketplace that helps blue collared and entry level job seekers to connect to mainstream employers anywhere in India via mobile in their own language in an affordable manner, Tech Mahindra said in a release. It aims to provide a connect jobs seekers below graduate level and job providers, it added. Job seekers can now easily access the service by buying the Saral Rozgar card for Rs 50 and registering through a simple voice call, in their preferred language, by dialling 1860-180-1100 from anywhere in India,” Tech Mahindra Head Mobility Business Jagdish Mitra said.
Alstom Wins Power Line Contracts In India, Korea, Canada
French electrical engineering group Alstom has won contracts with a total value of 800 million euros to build high-voltage direct current power transmission lines in India, South Korea and Canada, the firm said. Half of this amount was booked in the first quarter of its April 2014-March 2015 fiscal year and the other half will be booked in the second quarter, the company said in a statement. In India, Alstom won the second phase of an 800 kiloVolt (kV) Ultra-High Voltage Direct Current (UHVDC) line contract from Power Grid Corporation of India Limited (PGCIL), after winning a first order in 2012. With the two contracts, Alstom lines will be able to transfer up to 6000 megawatts (MW) of power – roughly equivalent to the output of six nuclear plants – from the centre of the country to the north. Alstom has supplied HVDC links to India since 1996.
Ramesh Tainwala Named Samsonite’s Global CEO
Ramesh Tainwala will take over as the chief executive officer of Samsonite International, the world’s largest luggage maker, in October, joining a growing league of Indians heading global companies. The American multinational has elevated Tainwala just six months after the Indian took over as its chief operation officer in March this year. Tim Parker, Samsonite’s chairman and current CEO, said, “This will allow us to secure the continuity and succession of our management team and drive the further development of our business with an even higher level of focus.” Tainwala, originally an entrepreneur in the plastic processing and consumer goods industries, joined Samsonite nearly 20 years ago.
Ntpc To Revise Katwa Power Capacity
The country’s largest power producer, NTPC Ltd, remained optimistic of the super critical 1,320 MW Katwa thermal plant in West Bengal. NTPC chairman Arup Roychoudhury said here today that it was planning to add one more unit of 660 mw capacity to the existing project given the enthusiasm seen from farmers to sell their land. “Katwa thermal power plant of 1,320 MW (660 MWx2) is a reality as we already have 550 acres land already in our possession and is fenced. We may put one more additional unit of 660 mw, if we get the additional land we are looking,” one the sidelines of The Bengal Chamber organised enviornment and energy conclave. NTPC was aiming for another 300 acres of land of which some 200 acres of land would be acquired directly from the farmers and rest 100 acres was expected to come from state government.