Tata Motors aims to raise addressable market to 90% Posted on 27th December 2018 |
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| Riding on the success of vehicles such as Nexon and Tiago, Tata Motors has lined up plans to increase its total addressable market to 90% by 2020, as part of its efforts to further expand network and grab more market share from close competitors. Total addressable market (TAM) is the overall revenue opportunity available for a specific product or service, taking into account the expansion scenarios. The company, which currently has a TAM of around 70%, is betting on its two new platforms — Alfarc and Omegarc — which will deliver 7-8 products/variants ensuring greater coverage and sizeable economies of scale. “We will continue to strive towards driving volumes and increase our market share as part of our ongoing turnaround journey,” said Mayank Pareek, president for Passenger Vehicles, Tata Motors. Addressing more markets comes with a plan of increasing number of dealerships at untouched locations. It has currently activated 27 dealerships in its top 20 serviceable markets with another 17 more under activation. Seven new dealerships were added each in Kerala and Maharashtra along with six new ones in Rajasthan in a day. These additions have helped the firm to expand to an additional 90 cities this year. Of any competition until 2015, Tata Motors considers 2018 as a turning point in the history of its passenger vehicle business with consecutive growth for 35 months and clocking the highest sales figures in 63 months in January 2018. Revitalised with the success of Tiago, Tigor and Nexon primarily, Pareek says remarkable improvement in brand perception in 2018, owing to forward-looking market strategy left the close competition significantly behind, in an apparent hint to Maruti Suzuki Vitara Brezza. Not only the products, the aggressive marketing strategy reaped benefits for the company, be it strategic digital campaigns or signing up Hrithik Roshan as the brand ambassador for Tigor. The firm is banking on sales enhancement, cost reduction and operational efficiencies to capture a larger pie of the domestic market next year. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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