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The prices for TVS Motor vehicles will not increase from next month. However, by April 2010, analysts believe that the consumer may have to spend more for TVS vehicles
India’s third largest two-wheeler maker TVS Motor Co Ltd has said that it is not going to increase prices despite rising steel costs. However, analysts believe that the company would increase prices from the next fiscal.
A senior official from TVS Motor said, “I don’t think that TVS Motors will increase the prices of its vehicles in January despite higher steel prices. However, the company may review prices in the next two-three months.”
Automakers are planning to go for price hikes in a phased manner—the first hike will be in January followed by another hike in April next year.
Analysts said that TVS Motor may not be affected by the current rise in steel prices because the company has contracts for steel supply till the first quarter of next year.
However, with the replacement of Bharat Stage Norms (BSN)-II by BSN-III in April 2010, the company may make the consumer spend more due to the improvement in its engines, the analyst said.
According to a PTI report, TVS Motor, which started exports of its three-wheelers a couple of months back, is also planning to venture into new markets like Bangladesh, Mexico, Peru and Guatemala.
"Our plan is to enter the diesel passenger market in the auto-rickshaw category of three-wheelers and we should be able to accomplish this within 18-24 months," HS Goindi, TVS Motor’s president for marketing told the media. The diesel three-wheeler will target the semi-urban and rural markets, he said, without disclosing details.
Mr Goindi said that the company had a presence in two-stroke and four-stroke engine segments in petrol, LPG and CNG variants.
According to data from the Society of Indian Automobile Manufacturers (SIAM), TVS Motor sold 11,36,344 units of two-wheelers in the domestic market in 2008-09.
The directors of the Securities and Exchange Board of India (SEBI) will meet under the chairmanship of Mohandas Pai (director of Infosys Technologies Ltd) to decide on the National Securities Depository Ltd (NSDL) issue after its controversial decision to declare two orders of the Mohan Gopal-V Leeladhar (both SEBI board members) committee as void or 'non est'.
In India, the spiritual route has always been an easy way to make money. Now, the Times Group wants to cash in on this trend by launching a weekly newspaper based on ‘The Speaking Tree’, a spiritual column that is published in the inside pages of the Times of India (TOI).
According to sources, Narayani Ganesh, a senior editor at TOI, will be editing the newspaper. Moneylife contacted the management of Bennett, Coleman & Co Ltd, the publishers of TOI, but they were not willing to comment on this development.
Spirituality is a booming business in India. The Times Group won’t be starved for content as there are enough spiritual and religious entities spread across the country which lean on the media for publicity.
Sources say that the TOI Crest edition, which was recently launched by the company, has not taken off. However, supplements which are clubbed along with TOI like Bombay Times or motoring magazine Zigwheels are doing good business, as they are propped up by expensive advertorials.
“Crest is now given away free at most Crossword outlets. This means that they (the Times Group) will eventually give it away free of cost as a weekend supplement (to TOI),” said PK Ravindranath, a senior journalist. “I read three issues of Crest very carefully and found that it is as good or as bad as TOI itself. It has shallow content and mostly paid advertorials,” he added.