The company is planning to target its ‘Twister’ towards the college-going youth while the “Dream Yuga” is aimed at those who are conscious of fuel consumption and for day-to-day commuting purposes
Chennai Honda Motorcycles and Scooters India (HMSI) is planning to tap the rural markets with the launch of its mass segment bike "Dream Yuga", reports PTI quoting a top company official.
Besides, the company planned to ramp up production at its second manufacturing plant at Tapukara in Rajasthan next month in a move to reduce the waiting period of all its products.
"We have planned to set up more touch points (retail sales and service points) in the coming months. Right now, our plan is to add 500 touch points across the country, by the end of this financial year. So, it will be 1,500 to 2000 units," HMSI vice-president and operating head (sales and marketing) Yadvinder Singh Guleria told PTI.
"Of the 500 touch points, more than 50% will be in rural areas," he said indicating their focus would be more in semi-urban and rural areas.
Noting that the 110cc segment has been witnessing huge competition, he said they would position their other variant 'Twister' motorcycle targeting the young college students, while "Dream Yuga" for those who are conscious of fuel consumption and for day-to-day commuting purposes.
HMSI offers Twister, Dream Yuga, CB Shine, CB Unicorn, CB Unicorn Dazzler, CBR250R, CBR 150R, Honda Activa and Dio.
On their plans to increase production, MR Guleria said, "We will be ramping up production in our second manufacturing plant next month. Once that happens, we will be able to reduce the waiting period for all our products."
Currently, there is a two-three month waiting period for most of the motorcycles which would be reduced to 7-10 days in view of the increase in production at the Rs460 crore second plant, inaugurated last year, Mr Guleria said.
The plant's capacity would increase to 14 lakh per annum with the expansion.
To a query on whether the sales of company's premium 250cc bike "CBR250" was affected due to the recent launch of 150cc, he said "there is some cannibalisation due to that... Yes, there is a slowdown (in sales of 250 cc motorcycles)".
HMSI have planned to sell 27.5 lakh units during this financial year. Of this, three lakh would constitute "Dream Yuga"range of motorcycles.
Mr Guleria was here to launch "Dream Yuga" priced (ex-showroom Chennai) between Rs47,561 for the base model and Rs51,500 for the top variant.
RIL has bought back 3,18,08,300 shares at Rs 713.67 per share deploying Rs2,270.05 crore as on 26th June
Mumbai: Reliance Industries Ltd (RIL) has bought back 3,18,08,300 shares at an average price of Rs 713.67 per share deploying Rs2,270.05 crore as on 26th June, the company said in a statement today.
RIL's board had approved buyback of up to 12 crore shares or 7.22% on 20th January 20 2012.
The company's board had fixed the buyback price at Rs870 per share and the maximum payout at Rs10,440 crore. The buyback opened on 1 February 2012 and the closing date for the buyback is 19 January 2013.
While ordering the bank to cut its promoter stake by 20% by March 2018, the apex bank has indicated that it will take a view on further dilution to 10% over two years after that date
Mumbai: The Reserve Bank (RBI) has asked Uday Kotak-led Kotak Mahindra Bank to more than halve promoters' holding to 20% by March, 2018 from the present 45.21%, reports PTI.
"The RBI has advised the bank that the promoters' shareholding, now at 45.21%, be brought down to 20% by 31 March 2018," a bank statement said here.
Additionally, the RBI has also indicated that it will take a view on further dilution to 10% over two years after that date, it said.
The Mumbai-headquartered private sector lender will also have to comply with any new prescription on promoter's holding slated to come up in the new bank guidelines, the statement said.
Kotak Mahindra Bank scrip shed 1.26% to close at Rs572.40 apiece on the BSE, while the 30-share Sensex gained 0.36%.