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Thursday, October 11, 2018

MFs pump over Rs 11,600-cr in equities in Sept; FPIs in sell-off mode
Mutual fund houses have made investments of over Rs 11,600 crore in domestic equities in September despite volatility in stock markets, even as foreign investors pulled out a massive Rs 10,825 crore. The sell-off by foreign portfolio investors (FPIs) from the Indian equity markets has provided an opportunity to mutual fund managers, experts believe. According to the latest data available with the markets regulator Sebi and depositories, fund managers lapped up shares to the tune of Rs 11,638 crore last month. On the other hand, FPIs pulled out Rs 10,825 crore from equities. Investment in domestic equities by fund managers could be largely attributed to retail investors who continue to invest through systematic investment plan (SIP).

Bandhan Bank Q2 net jumps 47.28% to Rs 487.65 cr
Bandhan Bank yesterday posted a 47.28% jump in net profit to Rs 487.65 crore for the quarter ended September 30, 2018. The Kolkata-based lender had reported net profit of Rs 331.09 crore in the corresponding quarter a year ago. Total income of the bank for the quarter under review stood at Rs 1,836.07 crore, up 36.73%, against Rs 1,342.76 crore as on September 30, 2017, Bandhan Bank said in a regulatory filing. Bandhan Bank's gross non-performing assets (NPA) stood at 1.29% in the second quarter of this fiscal compared with gross NPA of 1.43% reported in September 30, 2017.

Screwdriver plans expansion
‘Screwdriver’, a media company venture, a non- profitable organisation under the name of "By Prack the Crack", is planning expansion by launching its latest Navratri Release. According to Prakash Shivdasani, Founder of  Screwdriver Media Company, the main intent of these ventures is to trigger an awareness & pride about Indian culture along with promoting our rich Indian traditions & heritage, goodness in self & society through true-life stories/preachings of great people and the need to re-evaluate & revive values and ethics in a fast-paced, mechanical era we have started getting addicted to. Screwdriver aims to promote the above through short films/documentaries/ music videos/musical plays & concerts.

OYO reignites the “City Vibes”
OYO, South Asia’s largest and world’s fastest growing hotel chain, has announced the rollout of a nationwide campaign “City Vibes”, starting with Bengaluru. As a part of this campaign, OYO will use veteran street artist Kafeel Ahmed Ansari’s (Painter Kafeel) rendition of “Bengaluru the Bengaluru Way,” featuring top hotspots of the city on the facades of  100+ OYO hotels in Bengaluru. Commenting on the drive christened as ‘’City Vibes’’, Burhanuddin Pithawala, VP - Conversions, said ‘’Recently, we conducted a survey amongst a select group of our guests in Bengaluru, where 53% of them felt that a good-looking and well-painted exterior is an important factor while booking a hotel. With this in mind, we chose to design a colourful facade depicting the top hotspots of Bengaluru.”

'Rural households present big opportunity for consumer firms'
Rural households, accounting for 68% of the country's population, present a very promising opportunity for companies operating in the consumer segment, a report said. These companies have multiple opportunities to conduct business in the country on the backdrop of a growing economy and favourable factors driving consumerism in India, the joint report by Deloitte and FICCI titled 'Consumer LEADS' said. "Rural households contribute to approximately 50% of the GDP, 40% FMCG sales, 50% two-wheeler sales, 30% four-wheeler, and 45% telecom contribution," the report said.

Tata Motors drives in new Tigor at Rs 5.20 lakh
Tata Motors yesterday launched an updated version of its compact sedan Tigor, priced between Rs 5.20 lakh and Rs 7.38 lakh (ex-showroom). "The compact sedan segment has been an important space for customers seeking premium-ness at best value coupled with bold and attractive looks," Tata Motors CEO and MD Guenter Butschek said.

KP Energy migrates to BSE Main Board
Gujarat based KP Energy Ltd., announced its successful migration from BSE SME Exchange to Main Board of BSE, yesterday. The company has posted net profit of Rs.7.06 cr for the 6 months period ended Sept 30, 2018 as against Rs.1.01 cr for the 6 months period ended Sept 30, 2017. A significant increase in the profits by 599.01%. The company listed on BSE SME on Septr 25, 2016 has a market cap of 261.15 cr as on October 10, 2018. Speaking on the occasion, Farukbhai Patel, MD, KP Energy Ltd, said, “We are glad to announce KP Energy’s migration from BSE SME platform to BSE Main Board Platform. It is a delight to have completed this milestone in approximate 2.5 years of listing of our stock on BSE SME.” KP Energy Ltd set a benchmark in the wind power industry by winning GUVNL bidding with Rs. 2.43/ kWh in Dec 2017.

M&M to offer vehicles on lease for up to Rs 32,999 per month
Homegrown auto maker Mahindra & Mahindra yesterday launched a new vehicle acquisition scheme that allows customers to lease vehicles for a period of up to five years. The lease option scheme will be available on Mahindra's  personal portfolio of vehicles such as the entry level sports utility vehicle (SUV) KUV100, compact sports utility vehicle TUV300, mid-sized SUV Scorpio, multi-purpose vehicle Marazzo and premium sports utility vehicle XUV500.

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