Ashok Leyland sales decline 21% in April

Hinduja Group flagship company Ashok Leyland today reported a 21 percent decline in its total sales at 5,897 units in April. The company had sold 7,487 units during the same month of previous year, Ashok Leyland said in filing to the BSE.

Hinduja Group flagship company  Ashok Leyland today reported a 21 percent decline in its total sales at 5,897 units in April.

The company had sold 7,487 units during the same month of previous year, Ashok Leyland said in filing to the BSE.

Also read: IDL Speciality sell 2 crore Ashok Leyland shares

Sales of medium and heavy commercial vehicle in April went down by 14 percent to 4,523 units from 5,251 units sold during the same month of previous year.

Sales of light commercial vehicles in April, 2014 declined by 39 percent to 1,374 units from 2,236 units sold in the same month of previous year.

Shares of Ashok Leyland closed at Rs 22.45 apiece, up 0.90 percent from their previous close on the BSE.

Ashok Leyland stock price

On May 02, 2014, Ashok Leyland closed at Rs 22.45, up Rs 0.20, or 0.90 percent. The 52-week high of the share was Rs 25.20 and the 52-week low was Rs 11.82.

The latest book value of the company is Rs 16.74 per share. At current value, the price-to-book value of the company was 1.34.

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Bayer nears deal to buy Merck consumer unit: Sources

Bayer and Merck are hammering out final terms of an agreement and could announce the transaction in the next several days, the people said, asking not to be named because the matter is not public.

German drugmaker Bayer AG is nearing an agreement to buy Merck & Co Inc's consumer healthcare unit, people familiar with the matter said, in a deal that could value the business at around USD 14 billion.

Reckitt Benckiser Group, one of the final contenders in the auction, said on Wednesday it was no longer in active talks to buy the Merck business, leaving Bayer in the pole position to win the asset, which is best known for Coppertone sunscreen and Claritin allergy medicine.

Bayer and Merck are hammering out final terms of an agreement and could announce the transaction in the next several days, the people said, asking not to be named because the matter is not public. Representatives for Bayer and Merck declined to comment.

Also read:  EID Parry acquires Bayer group firm Alimtec

Reuters first reported last week that Bayer and Reckitt had emerged as forerunners in the auction with each offering roughly USD 13.5 billion, a price that could come close to USD 14 billion when the deal is finalized.

Bloomberg News reported on Thursday that Bayer entered exclusive talks with Merck.

Bayer has also edged out other rival bidders in the auction, including Procter & Gamble Co, Boehringer Ingelheim, Novartis AG and Sanofi SA, people familiar with the matter said.

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Coal India's April production at 37.5 MT

Bharat Coking Coal Ltd (BCCL) produced 2.94 MT (3.06 MT target); Central Coalfields Ltd (CCL) produced 4.55 MT (4.45 MT target) and Northern Coalfields Ltd (NCL) produced 6.86 MT (5.78 MT target).

State-owned  Coal India Ltd (CIL) produced 37.5 million tonne of the dry fuel in April, as against the target of 37.6 MT. The company's offtake was 40.54 MT during the month. Its target for that was 45.17 MT, CIL said in a filing to the BSE.

Giving the break-up for its subsidiaries, CIL said: Eastern Coalfields Ltd (ECL) produced 3.21 MT coal as against the target of 3.34 MT; Bharat Coking Coal Ltd (BCCL) produced 2.94 MT (3.06 MT target); Central Coalfields Ltd (CCL) produced 4.55 MT (4.45 MT target) and Northern Coalfields Ltd (NCL) produced 6.86 MT (5.78 MT target).

Western Coalfields Ltd (WCL) produced 4.13 MT against the target of 3.67 MT, South Eastern Coalfields Ltd (SECL) produced 11.70 MT (10.19 MT target); Mahanadi Coalfields Ltd (MCL) produced 11.69 MT (10.02 MT target) and North Eastern Coalfields (NEC) produced 0.09 MT (0.04 MT target).

Coal India produced 462 MT of coal in the last financial year, 2013-14, missing the target of 482 MT by 20 MT.

Also Read: Coal firms should take advance action to renew FSAs in time

Coal India stock price

On May 02, 2014, Coal India closed at Rs 295.50, up Rs 3.80, or 1.30 percent. The 52-week high of the share was Rs 330.65 and the 52-week low was Rs 238.35.

The company's trailing 12-month (TTM) EPS was at Rs 26.41 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 11.19. The latest book value of the company is Rs 32.48 per share. At current value, the price-to-book value of the company is 9.10.

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Vikram Akula no more promoter of SKS Microfinance

Akula was previously the executive chairman of the board of directors of the company. He resigned as a director of the company on November 23, 2011 and currently holds only 10 equity shares, the filing said, adding that he does not have any special rights in the company through formal or informal arrangements.

SKS Microfinance  today said it will cease to treat a few entities, including Vikram Akula and Sequoia Capital India Growth Investments, as its promoters. Mauritius Unitus Corporation and Mutual Benefit Trusts are the other entities that have been removed from the promoters list.

" ... taking cognisance of their (entities) requests and instructions, the company shall cease to treat them as its promoters with immediate effect," SKS Microfinance, the only listed microfinance company, said in a filing to the BSE. The micro-lender said that Mauritius Unitus Corporation and Sequoia Capital India Growth Investments have entirely divested their shareholding in the company and do not currently hold any equity shares.

Akula was previously the executive chairman of the board of directors of the company. He resigned as a director of the company on November 23, 2011 and currently holds only 10 equity shares, the filing said, adding that he does not have any special rights in the company through formal or informal arrangements.

Also Read: SKS Microfin standalone Mar '14 sales at Rs 138.30 crore

"Akula has informed the company through an e-mail dated April 24 2014, that he is not a promoter of the company," the filing said. The company's Mutual Benefit Trusts include SKS Mutual Benefit Trust Medak, Sangareddy, Jogipet, Narayankhed and Sadasivapet.

"The Mutual Benefit Trusts do not have any special rights in the company through formal or informal arrangements, except such rights that are available to every public shareholder of the company," the company said. Shares of the company closed at Rs 233.25, down 2.41 percent on the BSE.

SKS Microfin stock price

On April 17, 2014, SKS Microfinance closed at Rs 259.55, up Rs 9.05, or 3.61 percent. The 52-week high of the share was Rs 266.95 and the 52-week low was Rs 95.60.

The company's trailing 12-month (TTM) EPS was at Rs 6.45 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 40.24. The latest book value of the company is Rs 42.53 per share. At current value, the price-to-book value of the company is 6.10.

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Tata Motors sales decline 34% in April

Domestic passenger as well as commercial vehicle sales declined by 36 percent to 30,670 units in April, down from 47,595 units a year earlier.

Tata Motors  today reported 34 percent decline in total vehicle sales to 33,892 units in April.
The company had sold 51,160 vehicles in the same month last year.

Domestic passenger as well as commercial vehicle sales declined by 36 percent to 30,670 units in April, down from 47,595 units a year earlier.

In the passenger category, it sold 5,653 units of Nano, Indica and Indigo cars and 1,788 units of Sumo, Safari, Aria and Venture vehicles, the company said in a statement.

In the commercial vehicles segment, domestic sales declined by 36 percent to 23,229 units from 36,025 units in April last year.

Tata Motors stock price

On April 17, 2014, Tata Motors closed at Rs 424.50, up Rs 13.30, or 3.23 percent. The 52-week high of the share was Rs 437.70 and the 52-week low was Rs 263.10.

The company's trailing 12-month (TTM) EPS was at Rs 2.61 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 162.64. The latest book value of the company is Rs 59.47 per share. At current value, the price-to-book value of the company is 7.14.

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MM sales decline 12% to 36,274 units in April

Mahindra & Mahindra (M&M) had sold 41,432 units in the same month last year, the company said in a statement. In April, M&M's domestic sales stood at 34,107 units as against 39,902 units in the same month of previous year, down 15 percent.

Automaker Mahindra & Mahindra today reported 12 percent decline in total sales at 36,274 units in April.

Mahindra and Mahindra  (M&M) had sold 41,432 units in the same month last year, the company said in a statement. In April, M&M's domestic sales stood at 34,107 units as against 39,902 units in the same month of previous year, down 15 percent.

Total sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, stood at 18,148 units during the month as against 20,748 in April 2013, down 13 percent. Sales of the company's four-wheel commercial vehicles were down 19 percent at 11,677 units as against 14,414 units in April 2013, it said.

Also read: Honda Cars April sales up 30% to 11,040 units  

The company's exports were up 42 percent to 2,167 units during the month from 1,530 units in April 2013. M&M Chief Executive (Automotive Division) Pravin Shah said: "It is unfortunate that the auto industry has not seen an upturn over the last couple of months in spite of a reduction in excise duty."

The company expects that post the general elections, sentiments would improve, leading to a better economic situation and hence increased demand, he added. "At Mahindra, we are happy with our exports performance for the month and we continue to be optimistic going forward and expect to witness a gradual upswing on the back of our product offerings and customer centric initiatives," Shah said.

M&M stock price

On April 17, 2014, Mahindra and Mahindra closed at Rs 990.00, up Rs 14.65, or 1.50 percent. The 52-week high of the share was Rs 1054.00 and the 52-week low was Rs 741.50.

The company's trailing 12-month (TTM) EPS was at Rs 60.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 16.26. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 4.16.

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Air India set to enter airlines network Star Alliance

After a seven-year wait, Air India would finally enter the largest global airlines network Star Alliance in July after meeting all minimum conditions, including steps to enhance customer satisfaction.

This was announced here by Star Alliance Services GmbH CEO Mark Schwab in the presence of Air India CMD Rohit Nandan, who told reporters that almost all the minimum requirements for joining have been met and the remaining ones would be completed by the second half of May.

Also read: AI to launch scheme to fill up vacant business class seats  

The Chief Executives Board of the alliance would meet in London on June 22 or 23 for "an endorsement vote to bring Air India into the fold," Schwab said, adding a formal induction ceremony would be held in India sometime in July.

Air India would have one of its Boeing 787 Dreamliners and an Airbus A-320, signifying its international and domestic operations, painted with the Star Alliance logo and livery for the launch, Nandan said.

The move would bring "immense benefits to Indian fliers from day one" as they would be able to earn-and-burn miles, gain access to over 1,000 lounges at as many airports and enjoy seamless connectivity to major cities across the globe, Schwab said.

Air India was working on a customer service improvement plan to improve its services, which would be audited by the International Air Transport Association (IATA), Nandan said. The 26-member Star Alliance currently operates over 18,000 daily flights to 1,269 airports in 193 countries.

A total of 4,338 aircraft of the group fly over 640 million passengers a year. Air India had started the process of joining the grouping in 2007, but the alliance suspended the process in 2011 on grounds that the airline would take more time to meet the minimum joining conditions due to the merger.

Asked what had changed Star Alliance's perception of Air India in these years, Schwab said, "It's a different Air India now. They went through a very tough integration (merger) process, but that is not unique to Air India as many other carriers went through a similar process.

"Now we see a different company, a different leadership, a strong management team. A lot of work has gone into bringing the airline around and into Star Alliance."

Star COO Jeffrey Goh said the Board would also launch the first mother hub of the airlines' grouping at the new Terminal-2 of London Heathrow Airport on June 23. It would become the hub of operations of 26 member airlines like United, Singapore Airlines, Air China, Air Canada, Swiss, Lufthansa and Turkish.

Asked whether the downgrade of Indian aviation safety parameters by the US Federal Aviation Administration would impact Air India's entry into the alliance, Schwab said, "It is a government to government decision. In our thinking, AI's flights to the US have not got affected, though its codeshare with US carriers will be limited (due to the downgrade) till Category-I (or the top FAA safety category) is restored."

However, the Star Alliance had conducted safety review of Air India and "we are happy with the results," he said. Regarding steps being taken by Air India to integrate with the alliance, he said the airline would tweak its schedules "to align their flight timings with those of the 13 Star members which currently fly into India."

A similar attempt would be made to provide seamless connectivity at foreign airports too by coordinating arrival and departure of flights with schedules of other member airlnes, the Star Alliance CEO said.

The Star membership is expected to result in several benefits for the airline and its passengers including a hike in Air India's share on the India-US route by about 20 percent from about 13 percent now within the first year itself.

The India-US route being a key market for Air India, the membership would mean that its passengers travelling to the US would have easier access to many more cities there as they would be able to seamlessly travel on other Star Alliance member airlines flights going to America.

On improving customer satisfaction, Air India CMD Rohit Nandan said, "We have asked IATA to undertake quarterly passenger satisfaction surveys and have undertaken a customer service improvement program with Star."

"The results are encouraging and we are focussing on few areas where the survey shows we need improvement. We have also started taking direct passenger surveys and get about 900 responses daily," he said.

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Honda Cars April sales up 30% to 11,040 units

"We have started the financial year 2014-15 on a positive note and would like thank our customers for the fantastic response to the all new Honda City," HCIL Senior Vice-President (Marketing and Sales) Jnaneswar Sen said.

Honda Cars India today reported 30 percent increase in domestic sales at 11,040 units in April. The company had sold 8,488 units in the same month of the previous year, Honda Cars India Ltd (HCIL) said in a statement.

During April, the company sold 578 units of its small car Brio, 3,355 units of sedan Amaze and 7,044 units of the premium sedan City.

Besides, the company sold 63 units of sports utility vehicle CRV.

In addition, the company exported a total of 402 units during the month.

"We have started the financial year 2014-15 on a positive note and would like thank our customers for the fantastic response to the all new Honda City," HCIL Senior Vice-President (Marketing and Sales) Jnaneswar Sen said.

Also read:  Maruti Suzuki, Hyundai, Honda, Renault to hike car prices

Honda Siel stock price

On April 30, 2014, Honda Siel Power Products closed at Rs 598.25, down Rs 18.05, or 2.93 percent. The 52-week high of the share was Rs 688.75 and the 52-week low was Rs 295.20.

The company's trailing 12-month (TTM) EPS was at Rs 17.16 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 34.86. The latest book value of the company is Rs 276.12 per share. At current value, the price-to-book value of the company is 2.17.

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MM tractor sales down 11 % in April

Domestic tractor sales in April 2014 stood at 19,895 units, against 22,196 units during April 2013, down 10 percent, it added. Exports during the month stood at 836 units as compared to 1,006 units in April last year, down 17 percent.

Mahindra and Mahindra  today reported 11 percent decline in total tractor sales at 20,731 units in April. The company had sold 23,202 units in the same month last year, Mahindra & Mahindra said in a statement.

Domestic tractor sales in April 2014 stood at 19,895 units, against 22,196 units during April 2013, down 10 percent, it added.

Also read: M&M sales decline 12% to 36,274 units in April 

Exports during the month stood at 836 units as compared to 1,006 units in April last year, down 17 percent.

Commenting on the monthly performance, Mahindra & Mahindra Chief Executive (Farm Equipment and Two Wheeler Division) Rajesh Jejurikar said, "Unseasonal rains and hail during March in some parts of the country has impacted sentiment leading to lower sales of tractors in April. We do hope that the onset of monsoon brings cheer to farmers and the agriculture industry alike."

M&M stock price

On April 30, 2014, Mahindra and Mahindra closed at Rs 1072.15, up Rs 7.15, or 0.67 percent. The 52-week high of the share was Rs 1091.00 and the 52-week low was Rs 741.50.

The company's trailing 12-month (TTM) EPS was at Rs 60.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.61. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 4.50.

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Checkout: Real estate frenzy in Lucknow

This election season the team of Prime Property travelled Lucknow, which is one of the most keenly watched election battlefields in the crucial state of Uttar Pradesh. From a real estate angle, construction too is taking place at a frenzied pace with high rise apartments changing the city's skyline.

The team also tracked Chembur, a town in Mumbai whichis emerging as a new realty hotspot.

Talking about lucknow, which is the heart of Uttar Pradesh, the state that has a whopping 80 seats on offer and is going to be the karmabhoomi for BJP leader Rajnath Singh this election. Singh dumped Ghaziabad hoping to find safety in a city that has been a BJP stronghold. So, with political parties promising to modernise the city and the state we decided to travel to the city to assess if the realty index is in sync with the political climate.

The city of splendour, Lucknow has emerged as a major realty hotspot. With rating agency CRISIL ranking it as one of the top ten fastest growing cities for real estate and a drive through the city is a testament of that. It is hard not to get overwhelmed by the frenzied pace of construction and the high rise apartment buildings dotting the skyline standing out.

Lucknow isn't like most tier 2 cities. It has kept its tehzeeb and Awadh Heritage intact. Famous for its kebabs, biryani, zardozi and chicken work Lucknow in more recent times has emerged as a serious contender in attracting IT investments. Tata Consultancy Services ( TCS ) has a large campus in the city. Vodafone and Reliance also have big call centres. Besides that a 100 acre IT city near the international airport is on the anvil which will also house an IIT and a cancer hospital. However, like the rest of UP, industry fears a backlash in Lucknow when a new political regime comes to power in the state. Growing crime in the state is another concern. Experts say a strong MP can help Lucknow attract more investments.

Now, coming to the property market, there is a huge gap between demand and supply. Experts say there is a demand for almost 25000-30,000 units every year whereas the supply is almost half of that. Sensing an opportunity the country's big builders like DLF, AnsalApi, Omaxe and Emaar MGF have all moved in.

There are buildings coming up in the outskirts of Lucknow on two sides of the 22km long road, the Amar Shaheed Path, connecting the international airport to the City Centre. More than 10,000 units are being built on either side of this highway, which also connects the five most prominent districts for new real estate investments. Here property prices are almost 40 percent lower than the City Centre.

We drive down on Amar Shaheed Path from the City Centre towards the airport. First up is Sultanpur Road that has already established itself as a prime realty hotspot. AnsalApi is the biggest player here with its 3500 acre integrated township, the Sushant Golf City. AnsalApi is selling 1bhk to 4bhk options for Rs 3000-4500 a square foot. It is also betting big on penthouses and villas but these are far more expensive with a price tag of Rs 3-5 crore.

Brokerage firm commonfloor.com tells Prime Property, Sultanpur Road's prospects remain good, despite recording a 40 percent price appreciation over the last two years. This is mainly on account of an upcoming 60 acre IT city in Gajaria Farms.

The next locality to catch our eye was Gomti Nagar Extension. Here you will probably find the maximum number of options for affordable housing. 2 and 3bhk's are available for Rs 2000-3500 a square foot. Emaar MGF from Delhi has launched the 100 acre Gomti Green here. The company is offering a 2bhk at Rs 2700 a square foot as well as 4bhk luxury apartments for a jaw-dropping Rs 25,000 a square foot.

However, if you want to spend that kind of money, also consider options in the commercial hub of Lucknow i.e. Hazratganj. Premium flats are available here for Rs 40 lakh to Rs 1 crore.

The trend of high rise apartments in Lucknow began in Gomti Nagar. DLF and Omaxe both have projects here.

Upcoming infrastructure will be a booster shot for Lucknow's property market. The city's first metro is being built at an approximate cost of Rs 12,500 crore, incidentally by Sreedharan, the man behind the Delhi metro.

Commonfloor.com tells Prime Property, that Lucknow like many other cities has been suffering from a lull in the run-up to elections. Sales have fallen 30-40 percent in the last 3-4 months. The festive season of navratras in the first week of April was also disappointing. Commonfloor advices, now is the time to buy this as developers are willing to negotiate the final price and throw in freebies.

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