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Bajaj Auto hits new high in an otherwise weak market
Posted on 30th November 2017
Bajaj Auto hit a new high of Rs 3,372, up 1.7% on the BSE in intra-day trade in an otherwise weak market. At 10:18 AM; the stock was the top gainer among the Sensex, up 1% at Rs 3,354. On comparison, the S&P BSE Sensex was down 0.69% at 33,371.

In past three months, Bajaj Auto has outperformed the market by gaining 22% against 5.5% rise in the benchmark index.

Motilal Oswal Securities maintain ‘buy’ rating on the stock with target price of Rs 4,197 as the brokerage firm believes Bajaj Auto back on recovery path as volume growth coupled with improving mix to drive margin expansion.

“We believe Bajaj Auto is back on the growth path, driven by regulatory changes in key domestic passenger three wheeler states providing strong medium term growth visibility, filling up of product gaps in domestic motorcycle portfolio helping to regain lost market share, stability in key export markets and ramp-up in new markets driving export sales. We expect volume CAGR of around 10% over FY17-20,” the brokerage firm said in recent report.

The worst of volumes and margins are behind. Volumes should revive in domestic as well as export markets from 2HFY18. Given increase in cash levels, we believe there is scope for increase in payout, which could act as a re-rating trigger, added report.

Meanwhile, according to CNBC TV18 report Bajaj Auto’s quadricycle may hit Indian roads in a couple of months. The road transport ministry is likely to release a final notification allowing the production of quadricycles in India by January next year.

Related Companies: Bajaj Auto Limited   

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Nokia to cut jobs in multiple countries after Alcatel-Lucent deal, 5G shift
Posted on 16th January 2019
Finnish telecommunication giant Nokia on Tuesday announced its plans to cut jobs, media reported.

Nokia gave 350 as a layoff target in Finland, and said the figures in France and Germany would be higher, but did not specify.


Govt won't share limited Iran oil with private refiners: Sources
Posted on 16th January 2019
India will not share the limited supply of Iranian crude allowed under a U.S. waiver from sanctions with private refiners, according to people with knowledge of the matter. That is a departure from the earlier practice of splitting exempted volumes.

The government has asked its four state refiners led by Indian Oil Corp. to share the entire 9 millions barrels of Iranian oil available every month under a 180-day waiver from U.S. sanctions, the people said, asking not to be identified.


Indiabulls Integrated up 5% as arm gets preliminary nod from IRDAI
Posted on 16th January 2019
Shares of Indiabulls Integrated have locked in the upper circuit of 5 per cent at Rs 332 apiece on the BSE after the company announced that Indiabulls Life Insurance Company got the preliminary nod from Insurance Regulatory and Development Authority of India (IRDAI).

“The Company’s wholly owned subsidiary, ‘Indiabulls Life Insurance Company Limited’ has received regulatory R1 acceptance from Insurance Regulatory and Development Authority of India (IRDAI) for its proposed life insurance business,” Indiabulls Integrated Services said in a regulatory filing.


Rupee opens flat at 71.06 against US dollar
Posted on 16th January 2019
The rupee opened 1 paisa lower at 71.06 against US dollar on Wednesday. In the previous session, the domestic unit declined 13 paise to close at one-month low of 71.05 amid strengthening greenback and surging crude oil prices.

It was the third straight session of loss for the rupee. The domestic currency on Monday plunged by 43 paise to close at nearly one-month low of 70.92 against the US dollar.


India Oil demand rises from 4-year low as cash ban impact fades
Posted on 12th January 2019
India’s oil demand growth in 2018 rebounded from the slowest pace in four years as the country recovered from the shock of a cash ban and the roll out of a national sales tax.

The nation’s consumption of petroleum products rose 4.1 percent to about 210 million tons, the Oil Ministry’s Petroleum Planning and Analysis Cell said Friday. Growth improved from the preceding year’s 2.7 percent expansion, the slowest pace since 2013, as consumption was severely affected by a cash ban that crippled economic activity.


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