Toyota Kirloskar’s sales at 10,762 units in October 2011

Toyota Kirloskar’s growth in sales is mainly driven by Toyota’s latest entrants Etios and Etios Liva , which sold 3,405 and 2,454 units respectively

Toyota Kirloskar Motor (TKM) registered a growth of 63% in the month of October 2011, when compared to the same period last year. The company sold 10,762 units in October 2011 as compared to 6,602 units in October 2010.
The growth in sales is mainly driven by Toyota’s latest entrants Etios and Etios Liva , which sold 3,405 and 2,454 units respectively.

The Innova, Corolla Altis and Fortuner sold 3411, 700 and 763 units respectively.

“The production in October has been low due to the festive holidays. However, we have registered a growth in sales last month. The Etios continues to drive the sales growth,” said Sandeep Singh, deputy managing director-marketing, TKM.
The company registered a cumulative growth of 68%. It sold 1,06,246 units from January 2011 to October 2011 when compared to 63,158 units in the same period last year.

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Fuel retailers pushing for Rs1.82 per litre hike in petrol price

HPCL director (finance) B Mukherjee said that with crude hovering at $108 per barrel in the overseas markets and the rupee depreciating to 49 per dollar in the last three months, the desired increase in retail price of petrol works out to Rs1.82 per litre

New Delhi: State-owned oil companies are pressing for a Rs1.82 per litre increase in petrol prices because of rupee depreciation and hardening of crude oil prices, reports PTI.

Public sector oil firms had in September raised petrol prices by Rs5 per litre.

“From today, there are some losses on petrol. To cover them, we may have to increase prices,” HPCL director (finance) B Mukherjee told reporters here.

He said that crude oil is hovering at around $108 per barrel in international markets, while the rupee has depreciated from 46.50 a dollar three months ago to over 49 per dollar now, increasing the cost of oil imports.

Mukherjee said the loss on petrol is currently Rs1.50 per litre and after including local levies, the desired increase in retail prices is Rs1.82 per litre.

“We are in discussion with other oil companies on raising prices. Let’s say, we are toying with the idea,’ he said, refusing to say when the country’s fuel prices would be raised.

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IndusInd Bank appoints Arun Khurana as the new head of global markets group

Arun Khurana will be responsible for scaling-up the global markets business operations of the Bank to meet the Bank’s growth ambitions

IndusInd Bank has announced the appointment of Arun Khurana as the new head of global markets group. He brings with him many years of diverse business exposure across various markets and geographies.

Khurana was earlier with the Royal Bank of Scotland (RBS), Singapore as the regional head corporate solutions for the Asia Pacific region. He also had a very successful stint with RBS-India as head of global markets. In IndusInd Bank he would be responsible for scaling-up the global markets business operations of the Bank to meet the Bank’s growth ambitions and also bring in best–in-class business practices.

Romesh Sobti, managing director & CEO, IndusInd Bank said, “Arun’s considerable experience will help us strengthen and grow the Global Markets Business. His track record of playing an advisory role to several European and American Corporates will help the Bank to expand its presence in the international market. We are pleased to have Arun Khurana on board.”

Khurana takes over from Moses Harding, who has successfully led the global markets group for several years and has transformed the Group into a critical revenue driver. Harding will take up a new assignment as ‘Head-ALCO and Economic & Market Research’. This position also reports in to the CEO of the Bank.

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