Author: CP

We have just received reports that Bajaj Auto’s vehicle sales slipped 0.50% to to 278,176 units in October 2007 over for October 2006. Motorcycle sales slipped 1.10% to 248,307 in October 2007 over October 2006.

It sold 63,000 units of its new XCD 125 cc bike since launch in early September 2007. Sales of its three-wheelers fell 2% to 28,001 units while exports rose 38% to 55,572 units in October 2007 over October 2006.

Year-to-date, Bajaj Auto’s total sales were down 11% at 1,463,860 units while bike sales fell 12% to 1,273,865 units.

We have been reported that the committee of Yes Bank has approved a proposal from Orient Global Tamarind Fund (Orient Global Tamarind), an international investor for private placement upto 1,47,00,000 equity shares of Rs 10 by way of preferential issue at Rs 225 per equity share.

Further, the bank decided to convene extra ordinary general meeting on 04 December 2007.

Maruti Suzuki India (MSI) registered impressive growth of 15% to 69415 units in month of Oct ’07 backed by steady growth volumes in both domestic and exports sales. Its domestic sales for Oct ’07 increased by 15% to 64258 units compared to 55894 units in Oct ’06. Upside came largely from the higher sales volume registered by A2 segment that consists of models such as Alto, Wagon R, Zen and Swift. Its exports in Oct ’07 increased by 21% to 5157 units.

Segment wise, A2, A3 and multiutiliy vehicle (MUV) continued to report healthy growth while C segment (Omni & Versa) attained marginal growth and A1’s (M800) declined. A2 achieved healthy growth of 21% to 47077 units while A3 (Esteem, Baleno and SX4) grew by 55% to 4177 units. MUV consisting of Gypsy and Grand vitara surged by 184% to 417 units. On the other hand C segment grew marginally by 5% to 8110 units. A1 that consists of M800 crashed by 30% to 4477 units.

Bharti Airtel Ltd has trading in red despite very good quarterly results announced yesterday. TEC, the technical arm of the Department of Telecommunications (DoT), is planning to recommend a steep increase in spectrum usage charges for GSM mobile service providers that seek additional spectrum beyond 6.2 MHz.

Bharti Airtel is seeking more bandwidth to offer better mobile-phone services.

TEC has also recommended increasing the minimum number of subscribers required for operators to qualify for additional spectrum.