L&T execution picks up; HDFC disbursements healthy
LARSEN & TOUBRO Q2
Net sales: Rs93.4 billion (expected range Rs84.9 billion-Rs95.6 billion)
Net profit: Rs6.94 billion (expected range Rs6.2 billion-Rs8.1 billion)
NII: Rs10.85 billion (expected range Rs9.7 billion-Rs13.2 billion)
Net profit: Rs8.07 billion (expected range Rs7.6 billion-Rs8.1 billion)
(This article is based on secondary research. The report is for information only. None of the stock information, data and company information presented herein constitutes a recommendation or solicitation of any offer to buy or sell any securities. Investors must do their own research and due diligence before acting on any security. Some of the opinions expressed in this article are the author's own and may not necessarily represent those of Moneylife).
The advertising for this car has annoyed us through the print media. And now the TV commercial is trying to make you laugh. What will they unleash on us next?
As if tormenting us with that irritating ‘speaking gizmo’ placed inside the newspaper pages wasn’t bad enough, the Volkswagen suits have unleashed a TV campaign for their new sedan Vento, that makes you want to laugh out loud. For all the wrong reasons. It’s so silly, kids in junior class would come out with better stuff if assigned the creative duties for the brand.
To bring out the passion the Volkswagen engineers feel when putting together this gaadi, the creative route taken is employees sobbing hysterically when the car makes it way out of the factory/showroom!
Just as desi moms weep when the daughter’s doli is being carted away by the baraatis. 'Tears of Perfection' is what they call it.
So the TVC features a plant, where engineers, staffers and other admin chaps weep when it’s time to see-off their beloved Vento. One particularly emotional dude even chases the car on its way out (not kidding). By the way, this would worry me a lot as a customer. I would think there’s fire emanating from the car, and would probably get a stroke, but I digress.
Now, I quite understand why the Volkswagen brand manager chose not to take the rational route. That approach for cars has been done to death. There’s also the possibility that for an entry-level sedan like Vento, there aren’t too many stunning features to harp on. In that context, the emotional route does make sense. So no issues on that score. The problem lies with the extremely stupid rendition of the strategy. Engineers weeping like babies to see the car go is hilarious but for the wrong reasons. It’s like a bad slapstick comedy scene from the sixties cinema. Reminds you of the antics of yesteryear comedians like Rajendranath. The only thing missing is one of the sobbing engineers slipping over a banana peel.
The Vento is an expensive car. It probably costs upward of Rs7 lakh. It’s crazy to dish out such puerile stuff for a product that customers would evaluate a hundred times before closing a deal. This brand needed a deep, powerful emotional idea if the route had to work.
Well, only time will tell how Volkswagen Vento fares in the Indian market place. Right now we know just one thing about the car’s advertising: It first annoys you through the print. And then makes you laugh through the TV. I shudder to imagine what next.
Global cues point out to a cautious opening for the local market today. Markets in the US ended with losses of around 1.5% on concerns that banks will have to buy back bad mortgages and on the sudden increase in interest rates announced by China yesterday. Markets in Asia were wary that the sudden hike in interest rates by China might curb demand, thus denting the pace of economic recovery in the region. The SGX Nifty was down 7.50 points at 6,018 compared to its previous close of 6,025.
The Indian market opened in the green on Tuesday and touched the day’s high in initial trade on supportive global cues. The indices soon witnessed a sharp fall to enter the negative zone and were seen hovering on both sides of the neutral line. However, buying in middle-rung stocks improved sentiments in post-noon trade with the indices nearly touching the day’s highs. Profit booking surfaced once again dragging the sharply indices lower to end the session down nearly 1%.
The Sensex closed 185.76 points (0.92%) down at 19,983, below the psychological level of 20,000. The Nifty settled above the crucial 6,000-mark at 6,027, down 48.65 points (0.80%).
Wall Street closed sharply lower overnight on concerns that banks will be forced to buy back bad mortgages. The worries came after reports that a group of institutional investors and the Federal Reserve Bank of New York were suing the Charlotte, NC, a lender, over mortgage securities. Besides, the sudden increase in interest rates by the Chinese government on Tuesday also weighed down on the investors.
The Dow tumbled 165.07 points (1.48%) to 10,978. The S&P 500 shed 18.81 points (1.59%) to 1,166. The Nasdaq lost 43.71 points (1.76%) to 2,437.
Markets in Asia were trading lower after the Chinese government on Tuesday incorporated a sudden increase in interest rates, igniting fresh concerns about the pace of the economic recovery in the region. Chinese inflation data, due to be released later this week, is likely to rise, according to analysts’ estimates.
The Shanghai Composite tanked 1.44%, Hang Seng tumbled 1.66%, KLSE Composite was down 0.33%, Nikkei 225 shrank 2.18%, Straits Times declined 1%, Seoul Composite was down 0.03% and Taiwan Weighted lost 0.01% in early trade. The SGX Nifty was down 7.50 points at 6,018 compared to its previous close of 6,025.
Net direct tax collections during the period April-September 2010 stood at Rs1,81,758 crore, up from Rs1,52,625 crore in the same period last fiscal, registering a growth of 19.09% in the first half of the current fiscal against the budgeted annual growth target of 13.67%, according to an official statement from the government.
As per the data released by the Central Board of Direct Taxes, direct taxes recorded its highest growth of 26.12% at Rs81,647 crore in the month of September 2010.