Honda to enter 100 cc bike segment

Following its exit from Hero Honda, Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) on Monday said it would launch a range of motorcycles, including that in the mass segment of 100cc, to grab leadership position in the Indian two-wheeler market. HMSI also unveiled its global ‘road-sport' bike ‘CBR 250R', which will be launched next month.

Mass models

“Our target in the next decade is to be No.1 in India. For the first time, we will introduce a mass segment motorcycle in the 100cc category…it is the first priority for us,” HMSI President and CEO Shinji Aoyama told journalists here. “We have not been entering the mass segment because of existence of Hero Honda (its erstwhile joint venture partner). But now for a while, we will concentrate on introducing mass models. We will introduce the 100cc bike in next year...it is currently under development,” he said.

New CEO

HMSI will be strengthening its R&D in India and start developing specific products for the country, besides considering setting up a third plant. “We will start operating our second plant at Tapukara in Rajasthan by July-August, which will take our total annual production to 22-lakh units,” said Mr. Aoyama, who will be leaving India after a four-year stint to join the parent Honda Motor Co. He will be succeeded by Keita Muramatsu on April 1.

Sales target

Mr. Aoyama said HMSI was expecting to sell a total of 16.5-lakh units in 2010-11, a jump of 30 per cent over the last fiscal, while it was aiming for an increase of over 27 per cent in its sales to 21-lakh units in 2011-12. The Indian two-wheeler market is likely to be 1.2 crore units in this fiscal.

Referring to HMSI's global ‘road-sport' bike ‘CBR 250R', which will be launched next month, he said it would mark the company's entry in the high performance 250cc segment.

The bike will available in two versions — standard variant priced at Rs.1.43-lakh and C-ABS variant priced at Rs.1.68-lakh.

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Rupee gains 3 paise against U.S. dollar in early trade

The Indian rupee strengthened by 3 paise to Rs. 44.98 per dollar at the Interbank Foreign Exchange on Tuesday, supported by a higher opening in the stock market and dollar weakness against other currencies.

The rupee had appreciated by 12 paise to close at over a week’s high of Rs. 45.01/02 against the U.S. currency in Monday’s trade on sustained dollar-selling by exporters and banks.

Forex dealers said dollar weakness against the euro and other currencies and a higher opening in the stock market kept the rupee sentiment firm, but surging global crude oil prices limited the rise.

The Bombay Stock Exchange Sensex was up by 100.78 points, or 0.57 per cent, at 17,939.83 in opening trade Tuesday.

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Sensex opens 100 points higher on fresh buying

The Bombay Stock Exchange benchmark Sensex recovered by over 100 points in opening trade on Tuesday after three straight days of losses, in tandem with a firming trend on other Asian bourses.

The 30-share barometer, which lost over 520 points in the previous three sessions, rose by 100.78 points, or 0.56 per cent, to 17,939.83 in opening trade on Tuesday, with stocks of IT, auto, realty and capital goods companies supporting the recovery.

In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 30.60 points, or 0.57 per cent, to 5,395.35 points.

Brokers said reports of a firming trend on Japan’s Tokyo Stock Exchange and other Asian bourses following overnight gains in the U.S. market buoyed the sentiment at home, though surging global crude oil prices restricted the gains.

The Tokyo Stock Exchange’s Nikkei rallied by 3.61 per cent, while Hong Kong’s Hang Seng gained 0.28 per cent in morning trade Tuesday. The U.S. Dow Jones Industrial Average ended 1.50 per cent higher in Monday’s trade.

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Sensex opens 129 points higher

The Bombay Stock Exchange benchmark Sensex opened nearly 129 points higher Monday on emergence of buying in fundamentally strong shares at lower levels, driven by a firming trend on other Asian bourses.

However, a spike in global oil prices after Western forces launched airstrikes on Libyan targets capped the gains.

The 30-share barometer, which lost nearly over 480 points in the previous two sessions, rose by 128.92 points, or 0.72 per cent, to 18,007.73 in the first few minutes of trade on Monday.

In a similar fashion, the wide-based National Stock Exchange Nifty index rose by 39.60 points, or 0.73 per cent, to 5,413.30.

Brokers said investors indulged in selective buying of select available at attractive rates after the two-session losing streak.

Stocks of metals, consumer durables, auto and power firms were trading in the positive zone, helping the Sensex to trade higher, but state-run oil companies faced selling pressure as rising crude oil prices increased their financial burden on fuel subsidies.

In the Asian region, Hong Kong’s Hang Seng index rose by 1.30 per cent in morning trade Monday, while the U.S. Dow Jones Industrial Average ended 0.71 per cent higher in the previous session on Friday.

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Japan: Nissan to resume production at 5 plants Monday

TOKYO: Nissan Motor said it will resume limited operations at five of its plants in Japan on Monday, with vehicle production expected to start later in the week.

Japan is reeling from a humanitarian and nuclear crisis after a massive earthquake and tsunami. The country is a key supplier to the global auto and technology industries.

Nissan said in a statement it would resume production of repair parts and parts for overseas manufacturing at its Oppama, Tochigi, Yokohama, Kyushu and Nissan Shatai plants.

Vehicle production is planned to start on Thursday and will continue while supplies last, it said.

Restoration of its Iwaki engine plant, in northern Japan, is expected to take longer than the other plants, it said.

Nissan makes about 22 percent of its vehicles in Japan. Goldman Sachs has estimated the profit impact for stopping production to be about 2 billion yen a day for Nissan.

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Woman, grandson found at earthquake-wrecked home

An 80-year-old woman and her teenage grandson were rescued on Sunday in north-eastern Japan when the youth was able to pull himself out of their flattened two-storey house nine days after the devastating earthquake and tsunami.

Jin Abe, 16, was seen calling out for help from the roof of the collapsed home in the hard-hit city of Ishinomaki, according to the Miyagi Prefectural Police. Like other homes in north-eastern Japan, they had lost electricity and telephone service in the March 11 earthquake.

He led them inside to his 80-year-old grandmother, Sumi Abe. Both were conscious but weak, and had survived on the food they had in their refrigerator, said Shizuo Kawamura of the Ishinomaki police department.

The woman could not get out of the house because she has trouble walking, and the teenager, who was suffering from a low body temperature, had been unable until Sunday to pull himself from the wreckage, Kawamura told The Associated Press by telephone.

They were found by local police who realized they couldn’t get the woman out of the collapsed house and had to call other rescuers, he said.

National broadcaster NHK showed video of the stunned but coherent woman being placed on a stretcher. She was able to give her name and told rescuers she had been in the house since it collapsed in the quake. When asked if she was hurt, she said no.

The police said they were trying to learn if there had been other relatives living in the house and their whereabouts.

NHK showed them being taken by helicopter to a hospital.

Kawamura said that while the rescue was a reason for joy, the police had “too many other victims to find to take the time to celebrate.”

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Van Heusen keen to diversify into non-apparel segment

Van Heusen, a part of Madura Fashion & Lifestyle, the branded apparel business of the Aditya Birla Group, is targeting the non-apparel space as a future growth engine.

Van Heusen is a leading premium lifestyle brand straddling the premium apparel range with a turnover of Rs.650 crore and it is now planning to increase its presence in the premium non-apparel space currently dominated by multinational brands.

From a small presence in men's ties and belts, the company's non-apparel business plan includes an entry into men's footwear, eyewear, watches and luggage. It will also enter the women's shoes and bags segment.

Good demand

Speaking to this correspondent, Ajay Ramachandran, Brand Head, Van Heusen, said, “we see a good demand for these products and over the next five years, expect the non-apparel business to contribute around 10 per cent of our targeted Rs.2,000-crore turnover.” These products will come under the Van Heusen brand umbrella although the company has yet to decide on the business model — “either the licensing or the ‘buy-and-sell' model,” said Mr. Ramachandran, adding that the company was targeting a turnover of Rs.850 crore in 2011.

It recently made a foray into new categories of apparel with Van Heusen ‘Sport' offering smart casuals, ‘V Dot' targeting the youth and Van Heusen Women — all of these have been successful.

Van Heusen's branded apparel business has been growing at 60 per cent while the apparel industry clocked 15 per cent. While about 65 per cent of the business has come from existing outlets, the balance has come from newly-opened outlets. It has around 1,000 outlets with about 65 per cent being multi-brand outlets, 120 exclusive outlets, 100 department stores, 80 Planet Fashion stores and 50 value stores.

Retail store presence

Mr. Ramachandran said that going forward the focus would be on increasing retail store presence and about 60 per cent of upcoming stores would be exclusive stores. “We invested around Rs.30 crore to date in our stores and almost all are doing well. There has been a lot of interest from franchises willing to run Van Heusen stores. Our future investment will come down drastically as a result of this.” In terms of product mix, shirts, trousers and suits account for 90 per cent of the business and 75 per cent of these are made in its own units in Bangalore, the balance being made by vendors in Bangalore and Mumbai. Knits, sweaters and jackets account for the remaining 10 per cent of the business and these are made by vendors in Tiruppur, Ludhiana and China.

Commenting on the budget proposal to bring branded readymade garments and made-ups under the mandatory excise duty of 10 per cent, Mr. Ramachandran said, “coupled with the 130 per cent rise in raw material cost over the last six months, the excise duty will result in a mark-up of 20-25 per cent to the customer as the industry anyway operates on wafer-thin margins. We will evaluate other manufacturing options like Bangladesh or Sri Lanka as they attract only countervailing duty.”

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Tata Motors To Raise Prices As Input Costs Jump

Tata Motors said on Friday it would increase prices on some of its passenger and utility vehicles due to mounting input costs.

The increase in prices will be effective April 1, the company said in a statement.

"Despite continuous cost control initiatives, the company is being forced to take these increases on account of (a) steep rise in input costs," the company said.

The price increase in passenger cars will be in the range of Rs 7,000 ($155) to 15,000, or about 2 per cent. Utility vehicles prices would go up by between Rs 13,000 and 36,000, the company said.

Car sales in India hit a record high in February, driven by a burgeoning middle class and easier access to loans, but a hike in interest rates and a jump in input costs due to higher global commodity prices remain concerns for the sector.

Earlier this week, the company said its global vehicle sales rose 14 percent in February to 102,411 units.

Tata Motors, part of India's salt-to-software conglomerate Tata group, manufactures commercial and utility vehicles, and cars including the Nano, touted as the world's cheapest car.

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Centrotherm launches Indian subsidiary

Centrotherm Photovoltaics AG, a supplier of process technology and equipment for the production of solar silicon, solar cells and solar modules, which are used in solar power generation, announced the launch on Friday of its Indian subsidiary that is to be based in Bangalore.

Kai Vogt, Director, International Business Development, Centrotherm, told this correspondent that although investor interest in solar power generation was growing, “India has a lot of catching up to do when compared with countries like China, South Korea and Taiwan, where solar power generation capacity has been growing at a scorching pace in recent years.” Mr. Vogt said that the installed capacity in India would be about 100 MW, as compared to 5-6 giga watts in China. He said the Indian subsidiary would not establish manufacturing capacities immediately, but would provide service, strengthen sales and help customers in “inducting the latest technologies.”

Arguing that the cost of photovoltaic (PV) modules is critical, Mr. Vogt claimed Centrotherm's technology offered a solar to electrical energy conversion efficiency of about 18.5 per cent, which he said “is the highest in the business.” “Mind you, a every percentage point improvement in efficiency translates into a six percentage point reduction in costs, which is extremely critical for the adoption of solar power,” he said. “We hope to achieve an efficiency rate of 20 per cent by the end of 2012,” he said. Last year, the company, based in Germany, invested 50 million euro in R&D out of total revenues of 600 million euro, he said. The disaster at the nuclear facility in Fukushima in Japan had caused governments all over the world to “reconsider the nuclear option, which places greater responsibility on solar power to mitigate the effects of global warming,' Mr. Vogt said.

Kolan Saravanan, General Manager of the Indian subsidiary, Centrotherm Photovoltaics India Pvt. Ltd., said the subsidies provided to solar power in Germany had been responsible for its growth in the last few years. “Already, in many places solar power is just as expensive as peak load tariffs from traditional sources of electrical power, he claimed. “The solar cell manufacturing capacity in India is now about 500 MW, and is expected to reach about 800 MW by the end of 2011,” Mr. Saravanan said. The National Solar Mission has targeted a capacity of 20 GW by 2022, he said. “Our efforts in India must be seen in the context of the mission's mandate that crystalline solar cells destined for the domestic market must also be manufactured locally,” he said.

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‘Supermoon’ to be visible on Saturday

An exceptional celestial treat is in store for sky gazers as ‘supermoon’, the biggest and brightest full moon of the year which will be closest to Earth in 18 years, will be seen in the night sky on Saturday.

“The ‘supermoon’ will be closest to the Earth in 18 years tomorrow and will appear to be the biggest and brightest of 2011, Director of Science Popularisation Association of Communicators and Educators (SPACE) C.B. Devgun said on Friday.

Saturday’s full moon will be around 10 per cent bigger and 30 per cent brighter as compared to other full moons during the year, he said.

The term ‘Supermoon’ was first coined by Astrologer Richard Nolle in 1979. According to him, it is a situation when the moon is slightly closer to the Earth in its orbit than average, which is 90 per cent or more of its closest orbit, and the moon is a full or new moon.

On Saturday, the moon will be only 3,56,577 km away from the Earth, the closest while at the full moon phase in 18 years.

Earlier, there were supermoons in 1955, 1974, 1992 and 2005.

Regular situations of full moons coinciding with the moon’s closest point to Earth in fact happen after about every one year, one month and 18 days when it is about 3,63,104 km away from the Earth, Mr. Devgun said.

“This is because the moon’s orbit is an ellipse with one side 50,000 km closer to Earth than the other. In the language of astronomy, the two extremes are called ‘apogee’ (far away) and ‘perigee’ (nearby),” Mr. Devgun said.

At the closest, our natural satellite moon lies roughly 3,56,630 km from the Earth compared to its average distance of 3,84,800 km from the planet.

“The moon will not only shine brighter but will also appear bigger as compared to other full moons during the year,” he said.

The full moon will be at its best at around 3:30 a.m. R.C. Kapoor, a retired professor of Indian Institute of Astrophysics said.

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Vodafone still believes no tax to pay

NEW DELHI: Vodafone on Friday said it continues to believe that it had no tax liability over its 2007 purchase of Hutchison Whampoa Ltd's mobile business in India.

Vodafone, which has been fighting a $2.5 billion tax bill in India over the deal, said its position had not changed with regard to the tax case.

"Every adviser we have consulted, both during the transaction and since, is in unanimous agreement that no tax liability should arise," Vodafone said in a statement, which it said was in response to media reports that said the company had hinted at paying the tax.

India's Supreme Court will hear the tax case on July 19 and Vodafone said it would continue to "defend its position vigorously."

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GAIL, RIL in swap deal for LNG

Seeking to end the power woes of Andhra Pradesh and ensuring smooth supply to power plants in the State, GAIL (India) on Thursday entered into a deal with Reliance Industries Ltd. (RIL) for swapping natural gas with imported LNG (liquefied natural gas).

An agreement to this effect was signed on Thursday by GAIL, RIL and power producers in Andhra Pradesh in the presence of Union Petroleum and Natural Gas Minister Jaipal Reddy and representatives of the two companies. Petroleum Secretary S. Sundareshan was present during the signing ceremony. Under the swapping arrangement, GAIL would divert from RIL's eastern offshore KG-D6 fields 2.594 million cubic metres a day of natural gas, which is now being supplied to consumers in western and northern parts of the country, to power plants in Andhra Pradesh, officials said.

The consumers, whose KG-D6 gas allocation would be cut, would be supplied imported LNG but at $4.205 per million British thermal unit (mBtu), the price at which they now get RIL gas.

Power plants in Andhra Pradesh would pay the actual imported cost of LNG, which may be over $10 per mBtu. GAIL at present sells rich-gas, containing LPG, sourced from domestic fields and imported LNG to industries. This is considered an economic waste as the user industries burn the fuel without extracting LPG. The company now wants to first extract LPG at its LPG extraction plants and then sell the gas to industries.

GAIL will use the allocation of 2.594 mscmd from Reliance's Bay of Bengal fields for power plants in Andhra Pradesh and an equivalent volume would be sold to consumers in West and North, they added. KG-D6 gas is now transported from Kakinada on the Andhra Pradesh coast through a 1,395-km long pipeline to Bharuch in Gujarat and then through Hazira-Vijaipur-Jagdishpur and Dahej-Vijaipur pipeline to consumers.

Officials said customers in Andhra Pradesh would enter into contracts for purchase of re-gassified LNG from the LNG terminals at Dahej or Hazira in Gujarat. These consumers would pay the cost of RLNG and the marketing margin. RIL now produces about 51 mscmd of gas from the KG-D6 fields.

Of this, 14 mscmd of gas is sold to fertilizer plants, 24 mscmd to power plants and the remaining 13 mscmd to other sectors such as sponge iron plants, LPG, city gas distribution, petrochemical plants and refineries.

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Tata Motors to hike prices of passenger vehicles

Tata Motors on Friday said it will hike the prices of its passenger vehicles, excluding the Nano, by up to Rs. 36,000 from April 1, to offset rising input costs.

“Despite continuous cost control initiatives, the company is being forced to take these increases on account of steep rise in input costs,” Tata Motors said in a statement.

Under the revised price, the Indica will be costlier by Rs. 7,000-Rs. 9,000, Vista and Indigo CS by Rs. 8,000-Rs. 11,000 and Manza by Rs. 10,000- Rs. 15,000.

The Nano will, however, not be revised.

In the utility vehicles segment, depending upon the model, Sumo prices will go up by Rs. 13,000- Rs. 15,000, Grande by Rs. 16,000- Rs. 19,000, Safari by Rs. 18,000- Rs. 29,000, Aria by Rs. 30,000- Rs. 36,000 and Venture by Rs. 9,000-Rs. 12,000.

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Reliance Infra gets $1.6 bn power plant order

MUMBAI: Reliance Infrastructure said on Thursday it has secured an order worth Rs 7200 crore ($1.6 billion) to build a 2,400 megawatt power plant in south India for group firm Reliance Power .

Both companies are controlled by Indian billionaire Anil Ambani.

Reliance Power is setting up the gas-based power plant at Samalkot in Andhra Pradesh state, with generation expected by end-2011.

With this contract, Reliance Infrastructure said its engineering, procurement and construction (EPC) order backlog stood at Rs 30,700 crore.

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HCL Infosystems bags Rs 300 cr deal from Indian Air Force

NEW DELHI: IT hardware firm HCL Infosystems today said it has bagged an order from the Indian Air Force to deploy Wideband CDMA-based portable wireless network at a cost of over Rs 300 crore.

The WCDMA network will provide backbone connectivity and ensure video interactivity for video calls, cross connectivity with other communication platform like IP-based communication within the Air Force Network, HCL Infosystems said in a statement.

The WCDMA network will be integrated with the Air Force Network (AFNET), which has been deployed earlier by HCL Infosystems.

"This being one of the key wins under our Defence System Integration Practice, further highlights the company's vast understanding in various industry verticals," HCL Infosystems Executive Vice President Rothin Bhattacharyya said.

The 3G network will also have transportable mobile base stations for establishing communication with higher echelons even from remote locations in the country, it added.

HCL Infosystems will implement the whole project on turnkey basis.

Shares of HCL Infosystems closed at Rs 101.25 a piece, down marginally from its previous close on the Bombay STock Exchange.

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Videocon d2h presentsHD DVR with 3D

Videocon d2h, the DTH arm of Videocon group, has launched on Tuesday, its high definition-digital video recorder (DVR) with 3D. This would act as a bridge between the 3D television and the 3D channel feed, according to Saurabh Dhoot, Director, Videocon group.

Anil Khera, CEO, said the DTH service would set a new precedent in the DTH market and would enable customers to move from cable to DTH.

Videocon d2h has the maximum number of 288 channels and services with a strong regional content for its specific audiences, according to a release.

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Sensex opens 150 points down on rate hike fears, weak Asian cues

Bombay Stock Exchange index Sensex fell by nearly 150 points in opening trade today on selling by funds ahead of the RBI monetary policy amid weak trend on Asian bourses.

The 30-share index of the BSE that gained 191.05 points in the previous session, fell by 149.64 points, or 0.81 per cent to 18,209.05, with banking, auto, realty and IT stocks leading the fall.

In a similar fashion, the broad-based National Stock Exchange index Nifty lost 57.25 points, or 1.03 per cent to 5,453.90 points in the first few minutes of the trade.

Brokers said besides a weakening trend on Asian bourses following overnight losses at the U.S. market, off-loading of positions by speculators on fears that the RBI may announce a hike in key rates in its monetary policy review later today further dampened the sentiments.

Meanwhile, Key Asian indices - Hong Kong’s Hang Seng and Japan’s Nikkei - were trading in red by 2.18 per cent and 2.09 per cent, respectively, in the morning trade today. The U.S. Dow Jones Industrial Average closed 2.04 per cent down yesterday.

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Maruti Suzuki rolls out ten-millionth car

Maruti Suzuki India on Tuesday rolled out ten millionth car. The historic ten-millionth car, a metallic breeze blue coloured WagonR VXi (Chassis No 243899) rolled out from the company's Gurgaon plant.

With this landmark achievement, Maruti Suzuki becomes the only Indian car company that makes its entry into the select club of automobile manufacturers across the globe which have crossed this milestone, says a release.

On the occasion, Shinzo Nakanishi, Managing Director and CEO, Maruti Suzuki India said, “As we reach this historic landmark, we thank our founding partners who laid a solid foundation of values and practices. We thank our customers who have brought us this far. The commitment of employees and continued strong support of business associates has played a critical role all through the journey.

“Their enthusiasm and commitment is especially reflected in manufacturing around 5 million units just in the last six years. Today is a day of pride for the full Maruti Suzuki family.”

Maruti Suzuki currently offers a wide range of 16 passenger vehicle models in India. The company is the largest car maker with over 45 per cent share in the passenger vehicle market. With two manufacturing facilities and a combined manufacturing capacity of one million cars a year, Maruti Suzuki currently produces over 1.2 million units annually.

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Sensex up 191 points on easing oil prices, growth expectations

The BSE Sensex on Wednesday recovered 191 points as funds bought blue-chips on easing crude oil prices and higher advance tax payments indicating strong corporate earnings, amid a firm trend in global stock markets.

The Bombay Stock Exchange benchmark index Sensex, which lost 272 points yesterday, bounced back 191.05 points to close the day at 18,358.69, riding on realty and banking stocks.

Similarly, the broad-based National Stock Exchange index Nifty rose by 61.50 points to 5,511.15 as investors focused on attractive valuations in frontline stocks.

Brokers said buying was confined to fundamentally strong stocks available at attractive low levels as investors felt that strong advance tax payments for the fourth quarter of this fiscal indicated that India Inc earnings were on track.

They said easing crude oil prices reduced concerns of any steep hike in key rates by RBI, which is slated to hold monetary policy review tomorrow.

A firming trend in the Asian region and higher opening in Europe further fuelled the trading sentiment.

Brokers said however that the political tensions in the Middle East and quake-tsunami hit Japan’s continuing battle against radiation leaks at nuclear reactors, have capped the gains to some extent.

The MSCI Asia Pacific Index rose 2.2 per cent, after losing more than 10 per cent from a January 19 peak. The price of oil fell 1 per cent to a two-week low in New York.

In the 30-BSE index components, 24 stocks closed higher while all the sectoral indices led by banks, realty and consumer durables ended in the positive zone.

The realty sector index gained the most by rising 2.47 per cent to 2,104.51 and banking index by 2.15 per cent to 12,438.34 on hopes of only a moderate hike in RBI rates.

The two most-heaviest stocks, with their 23 per cent weightage on the Sensex, Reliance Industries and Infosys Technologies rose smartly on emergence of investment buying.

RIL rose by Rs 8.30 to Rs 1,044.60 and Infosys by Rs. 5.80 to Rs. 3,035.50.

As the buying activity picked up in low valuation stocks, midcap index rose by 1.37 per cent to 6,556.45 and smallcap index by 1.26 per cent to 7,889.62.

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Rupee gains 5 paise against U.S. dollar in early trade

The Indian Rupee strengthened by 5 paise to Rs. 45.20 per dollar at the Interbank Foreign Exchange today, supported by a higher opening in the stock market and dollar’s weakness against other Asian currencies.

The rupee had depreciated by 19 paise to close at Rs. 45.25/26 against the US currency in yesterday’s trade on renewed dollar demand from banks and importers despite a weak dollar overseas.

Forex dealers said dollar’s weakness against other Asian currencies and a higher opening in the stock market helped the rupee gain some strength.

Meanwhile, the Bombay Stock Exchange Sensex was up by 200.42 points or 1.10 per cent at 18,368.06 level in opening trade today.

Keywords: rupee, forex, dollar

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