Toyota Kirloskar sold 3,943 units of the Etios and 4,328 units of the Liva last month
Car maker Toyota Kirloskar Motor reported an over two-fold increase in sales to 13,956 units in November, 2011, driven by robust demand for its latest 'Etios' and 'Liva' models.
The company had sold 5,242 units in the corresponding month last year, Toyota Kirloskar Motor (TKM) said in a statement. TKM, a joint venture between the world's largest car-maker Toyota and the Kirloskar Group, attributed the growth to healthy sales of its Etios sedan and small car Liva.
"We are very happy with the overwhelming response and confidence shown by our customers in the Etios and Etios Liva. The Etios series has sold a total of 8,271 units in November," TKM Deputy managing director (marketing) Sandeep Singh said.
The company sold 3,943 units of the Etios and 4,328 units of the Liva last month. It also sold 4,308 units of multi-utility vehicle Innova.
HSBC India scheme offers two options, one where the customer can make pre-payments subject to certain conditions and second wherein the customer chooses not to make pre-payments during the fixed rate period
HSBC India has launched a fixed rate product for home loans and loans against property. The scheme offers two options, one where the customer can make pre-payments subject to certain conditions and second wherein the customer chooses not to make pre-payments during the fixed rate period.
The new rate is available for one to five years period for home loans and five years for loan against property, with applicable rate beginning at 11.25% for a one-year tenor to 11.75% for a five-year home loan, the bank said in a statement.
There is 25 basis points discount for every tenor provided the borrower does not choose to pre-pay the loan, the statement added. Similarly, loan against property, which has a five-year tenor, the rate is 12.50% and 12.75% if pre-paid.
On expiry of the fixed rate period, the loan will switch to floating rate at a margin of 2% (for home loans) and 3.25% (for loans against property) over the prevailing base rate. "The second option has been specially introduced for customers who are aware that they are not likely to prepay the loan within the term of the fixed rate. In this case, they can avail of a 0.25 percentage points discount from the bank (on the fixed rate), thereby having the benefit of hedging their interest rate risks over the fixed rate tenure," the private lender said in a statement.
Factors like comforting inflation data and the government’s recent bold policy announcements are likely to act as a boost for the market. However, economic turmoil in the developed world is likely to act as a dampener, investment banking major Morgan Stanley said in its report
New Delhi: The Bombay Stock Exchange’s (BSE) Sensex index could surge by as much as 16% next year, but the rise will be marked by ‘volatility’, reports PTI quoting investment banking major Morgan Stanley.
“The probability-weighted outcome for the BSE Sensex is 18,741 for December 2012, 16% above the current level,” Morgan Stanley said.
The BSE benchmark Sensex has lost over 19% so far this year and closed at 16,542.62 points on 1st December. The Sensex is down by nearly 22% from an all-time high of 21,206.77 points scaled on 10 January 2008.
On the domestic front, factors like comforting inflation data and the government’s recent bold policy announcements are likely to act as a boost for the market. However, economic turmoil in the developed world is likely to act as a dampener.
“Inflation data is already moderating, setting the stage for monetary easing. The bad news on policy has stopped, although the volatility emanating from a weak developed world could keep pegging back Indian equities,” Morgan Stanley said.
As per the latest data, food inflation stood at a four-month low of 8% for the week ended 19th November.
Food inflation was in double digits for five consecutive weeks in October and early November.
“The positive side effect of any decline in inflation expectations will be a relative transfer of savings from gold to equities,” the report said.
Given the decline in seasonally-adjusted inflation, “The RBI (Reserve Bank of India) is set to change policy direction via the liquidity injection, CRR cuts and rate cuts path over the coming months,” it added.
However, excessive monetary easing in Europe or the US to address anaemic growth could trigger a rise in commodity prices, resulting in inflation across India all over again.
In addition, unrest in the Middle East has the potential to create pain via higher oil prices. A substantial depreciation in the rupee value poses the same risk to inflation, Morgan Stanley said.
On the policy front, recent action on FDI in pension funds and retail and power tariff revisions suggest that the bad news has stopped. However, multiple state elections in the coming months could imply continuing policy stalemates.
India is in a difficult position with respect to its fiscal deficit and the global crisis could cause the fiscal deficit to rise further, which in turn could pose a ‘problem’ for the market, the report said.
Moreover, India’s current account deficit and the way it is funded (largely by capital market flows) exposes India to a global financial crisis. This was the very reason for which the Indian equity market significantly underperformed in 2008-09 even though Indian corporate earnings outperformed the rest of the world.
The report, however, cautioned that a “significant global stimulus or a breakdown in capital markets would hurt India a la 2008.”