Tata Motors introduces Nano with new features

The three variants of the Nano will continue to be available between Rs1.40 lakh and Rs1.96 lakh (ex-showroom, Delhi)

In a bid to boost sales, Tata Motors is giving its small car Nano a facelift, with a more powerful engine and new features, while keeping the prices same.
"Making the Tata Nano even more desirable, the car's 624cc engine has been made more powerful, delivering 38 PS of power (earlier 35 PS) and 51 Nm of torque (earlier 48 Nm)," the company said in a statement. Despite delivering more power, the car will become more fuel efficient. Nano will now give a mileage of 25.4 km per litre of petrol as certified by Automotive Research Association of India compared to 23.6 km a litre earlier, Tata Motors claimed.

Besides, the company said: "The high fuel efficiency, with a low kerb weight of 600 kg, ensures that the Tata Nano at 92.7 gram per kilometre has the lowest carbon dioxide emission among cars in India.” The earlier Nano had an emission record of 101 gram in every km.

Despite adding all these features, the company has not raised the prices of the car. The three variants of the Nano will continue to be available between Rs1.40 lakh and Rs1.96 lakh (ex-showroom, Delhi). According to Society of India Automobile Manufacturers, Nano's sales have declined by 17.85% during April-October period in this year at 33,245 units. The company had sold 40,467 units in the same period last year.

On Monday, Tata Motors was closed at Rs161.45 per share on the Bombay Stock Exchange, 5.2% down from the previous close.

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BlackBerry to offer free aptitude test application in India

Around 300 students from over 40 engineering and management colleges competed against each other using BlackBerry smartphones to answer the test

Canada-based smartphone maker Research In Motion will provide free aptitude test application on its BlackBerry phones for students in India in partnership with content providers Ipomo and mobile operator Vodafone.

"We are looking at the way a student can utilise his time for productive work on mobile phones. Hence, we have decided to give students Aptitude Competition for Excellence (ACE) applications free so that he can utilise his time to prepare for competitive exams," Hitesh Shah, director-commercial relationship India, Research In Motion told PTI.

The application and content of ACE has been designed by Ipomo for BlackBerry users, Shah said, adding that initially the content for the test will be available for select examination and grades. It will be expanded and updated gradually.
The three partners are running Aptitude Competition for Excellence (ACE 2011) program in Karnataka and will start it in Pune from January.

"We are going to organise another series of ACE in Pune from second week of January. After completing ACE test in Pune, we will provide access to application on pan-India level. We will not charge anything for the application and content," Shah said.

Today, the three partners jointly announced the first set-of ACE 2011 winners, one each from three different colleges from Bangalore and Mysore.

Around 300 students from over 40 engineering and management colleges competed against each other using BlackBerry smartphones to answer the test, Shah said.

Under the programme, the three partners will jointly provide scholarship worth Rs1 lakh to the winner, Rs50,000 and Rs25,000 to first runner-up and second runner-up.

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India to be 3rd largest market life insurance market by 2015: BRICdata

The report states that the market size of Indian life insurance industry is expected to touch $111.9 billion in 2015 from $66.5 billion in 2011

According to a research report by BRICdata, India is expected to emerge as the third-largest market for life insurance in the world by 2015, only after China and Japan. At present, India stands 12th among the top markets for life insurance.

The report states that the market size of Indian life insurance industry is expected to touch $111.9 billion in 2015 from $66.5 billion in 2011, registering a CAGR (compounded annual growth rate) of 14.1%. Also, the number of policies sold is expected to increase to 85.21 million in 2015 from 53.23 million in 2010.

The report cities, Insurance Regulatory and Development Authority’s proposal to increase the limit on foreign direct investment from 26% to 49% and improved efficiency of distribution channels in smaller cities as some of the major reasons that would enhance the growth of the industry.  

The individual life insurance segment, which comprised 74.8% of the total Indian life insurance industry in 2010, is expected to grow to 79.3% in 2015 on increased investment in individual life insurance products such as term and pension plans.

The unit-linked insurance plans (ULIPs) are expected to be fastest growing product category at CAGR of 21.2% during 2015. The report states that unit-linked pension and annuity products will offer a minimum guaranteed return of 4.5% per annum on maturity.

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