Connect with us

Business

Mercedes Benz registers its best half-yearly sales figures

Agencies

Published

🕒

on

IST

New Delhi: Maintaining its numero uno position among luxury car makers in India, Mercedes Benz on Friday announced that the company had sold 8061 units between January and July of this year – the highest ever for it in the country.
The German auto company in a press release announced that its half-yearly sales had grown by 12.4% between January and July of this year as against figures from the same period last year. While the SUV portfolio of the company powered the growth at 15.9%, sedans too fared reasonably well in the half-yearly figures – at a growth of 15.2%. Here, the E-Class continues to be the benchmark while seven new products launched this year have further helped Mercedes to consolidate its position at the top.
According to Roland Folger, Managing Director and CEO, Mercedes-Benz India, it is not just about launching new products but after-sales services that have continued to bolster sales. “Mercedes-Benz continues to retain the top customer billing in the luxury car segment, growing 12.4% in the first six months of 2018,” he said. “We attribute this growth momentum to our customer-centric measures coupled with an unmatched product and customer service offensive.
In recent times, Mercedes has focussed on expanding its customer base to the young which too may have helped in notching up sales numbers. The launch of high-performance AMG models, according to company officials, also show that India is a serious market for Mercedes.


Advertisement
Loading...

Business

MPC to meet six times during 2019-20: RBI

Agencies

Published

on

Mumbai: The Monetary Policy Committee (MPC), which decides on key interest rates, will meet six times during the next financial year, the Reserve Bank of India (RBI) said.

The first meeting of the six-member MPC to decide on the first bi-monthly monetary policy statement for 2019-20 will be held from April 2 to 4.

The policy will be announced on April 4. Headed by RBI Governor Shaktikanta Das, the committee also includes two representatives from the central bank and three external members.

 

The external members are Indian Statistical Institute professor Chetan Ghate, Delhi School of Economics Director Pami Dua and Indian Institute of Management-Ahmedabad professor Ravindra H Dholakia.

According to the schedule provided by the RBI, the second meeting of the MPC in the next fiscal will be held on June 3, 4 and 6; third meeting (August 5-7); fourth meeting (October 1, 3 and 4); fifth meeting (December 3-5) and sixth meeting (February 4-6, 2020).

Continue Reading

Business

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

Agencies

Published

on

New Delhi: The country’s largest lender State Bank of India (SBI) said it has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds.

“The Committee of Directors for Capital Raising at its meeting held today on 22 March 2019 deliberated and accorded approval to allot 12,513 non-convertible, taxable, perpetual, subordinated, unsecured Basel lll-compliant additional tier-I bonds, for inclusion in additional tier-I capital of the bank…aggregating to Rs 1,251.30 crore,” SBI said in a regulatory filing.

The bonds with a face value of Rs 10 lakh each bears a coupon rate of 9.45 per cent per anum payable annually with call option after 5 years or any anniversary date thereafter, it said. The bonds were subscribed on Friday, it added.

 

State Bank of India (SBI) also said the central board of the bank at its meeting held has accorded its approval for extension of validity period for raising equity capital of up to Rs 20,000 crore from market by way of follow-on public offer, qualified institutional placement, preferential allotment, rights issue or any other mode or a combination of these till March 31, 2020.

Continue Reading

Business

Sebi fines 4 entities Rs 27 lakh for fraudulent trading in BSE stock options

Agencies

Published

on

New Delhi: Markets regulator Sebi imposed a total penalty of Rs 27 lakh on four entities for indulging in fraudulent trade in illiquid stock options segment of BSE.

Umapati Oil Mill and Ginning Factory, Yudhbir Chhibbar, Kasturbhai Mayabhai Pvt Ltd and Vimladevi Shyamsunder Khetan are the four entities, according to Sebi’s separate orders.

fter observing a large-scale reversal of trades in the BSE’s illiquid stock options segment, Sebi conducted a probe from April 2014 to September 2015.

 

Following the probe, the regulator found that the trades executed by the entities were not genuine as they were reversed within few seconds with same counter parties with significant difference in price, resulting in profit to the entities.

Securities and Exchange Board of India (Sebi) said it was a deliberate attempt to deal in such a fashion and not a mere coincidence.

The trades executed by the entities were not genuine and created an appearance of artificial trading volumes, thereby violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations, Sebi noted.

Accordingly, a fine of Rs 8.7 lakh and Rs 8.4 lakh were imposed on Yudhbir Chhibbar and Vimladevi, respectively while a penalty of Rs 5 lakh each was levied on Umapati Oil Mill and Kasturbhai Mayabhai Pvt Ltd, totalling Rs 27.1 lakh.

In a separate order, Sebi imposed a total fine of Rs 6 lakh on four promoters of Artech Power Products for delayed disclosures to exchanges regarding their change in the shareholding in the company.

Ranjith Vijayan, I V Vijayan, Repsy Vijayan and Resmi Vijayan are the four promoters, according to Sebi’s order.

The promoters have deprived the vital information to the public by non-disclosure /delayed disclosure as mandated by the Takeover Regulations, Sebi noted.

Continue Reading

Latest News

Subscribe to The Kashmir Monitor via Email

Enter your email address to subscribe to The Kashmir Monitor and receive notifications of new stories by email.

Join 1,000,969 other subscribers

Archives

March 2019
M T W T F S S
« Feb    
 123
45678910
11121314151617
18192021222324
25262728293031
Advertisement