HMSI sets target to sell 45 lakh units in FY'15
Honda Motorcycle & Scooter India has set an ambitious target to sell 45 lakh units in the country this fiscal as it gears up to introduce two new motorcycles, and hopes to cash in on the recently launched scooter - Activa 125.
It is also planning to open 1,000 more outlets taking the total to 3,800 by the end of the 2014-15 fiscal. "HMSI has set the challenging target of 45 lakh unit sales in FY 2014-15. I am confident that propelled by three new launches including the Activa 125 and aggressive network expansion, Honda will meet expectations of its valued customers in India," HMSI President & CEO Keita Muramatsu said in a statement.
BoB net up 12.5% on non-core income, better asset quality
State-run Bank of Baroda on Tuesday reported a 12.5 per cent rise in March quarter net profit at Rs 1,157.3 crore, boosted by an improvement in asset quality and non-interest income.Net interest income (NII) growth was 11 per cent at Rs 3,124.3 crore, while the core non-interest income was up 15 per cent at Rs 602 crore.Chairman and Managing Director S S Mundra said a push in cost of funds limited the NII growth in the reporting quarter. He, however, did not comment when asked if the bank was mulling any hike in lending rates.
Fresh slippages declined for the fourth consecutive quarter, resulting in an improvement in gross non-performing assets ratio to 2.94 per cent from 3.32 per cent a year ago.
Maruti Alto crosses 25 lakh unit sales mark in domestic market
The country's largest carmaker Maruti Suzuki India on Tuesday said its compact car Alto has become the second model from the company's portfolio to cross the 25 lakh unit sales mark in the domestic market.
The Alto has entered the 25 lakh club, where the only other car is the Maruti 800, Maruti Suzuki India (MSI) said in a statement. "launched in 2000, the Alto has attained the 25 lakh milestone in less than 14 years, the fastest by any brand; we are overwhelmed and humbled by its popularity," MSI Vice President (Marketing) Manohar Bhat said.
India expected to see weak economic growth: OECD
India, China and other major emerging economies are expected to see weak growth even as momentum remains stable in the developed world, Paris-based think tank OECD said on Tuesday.Besides India and China, the Organisation for Economic Cooperation and Development (OECD) has projected weak growth for Brazil and Russia as well.The estimates are based on Composite leading Indicators (ClIs) which are designed to anticipate turning points in economic activity."ClIs point to growth below trend in Brazil, China and India, and to growth losing momentum in Russia," the think tank said in a statement.