Thursday, July 29, 2021

Dealer Viability Is The Biggest Concern Of Auto Dealers Across All Segments Of The Industry

* Kia in 4W Mass, BMW & Mercedes in 4W Luxury, HMSI in 2-Wheeler, Bajaj in 3-Wheeler and VECV-Eicher in Commercial Vehicles hold Pole positions 

Federation of Automobile Dealers Associations (FADA), the apex national body of Automobile Retail in India today announced the outcome of Dealer Satisfaction Study 2021 results which was undertaken in association with PremonAsia, a consumer-insight led consulting & advisory firm based out of Singapore. 

Commenting on the release of the study, FADA President, Mr. Vinkesh Gulati said, “FADA’s Dealer Satisfaction Study 2021 was initiated to examine the health of the relationship between Auto Dealers and their OEMs. The survey was undertaken to reflect the prevailing issues faced by the Auto Retail Sector at large, thus making it the true Voice of the Dealers. OEMs need to be cognizant of the evolving dealer expectations. While issues of concern such as dealership viability, support on sales and after-sales, openness to dealer inputs in decision making and designing long term policies are fundamental needs, there are clear signs that dealers expect their respective OEMs to go beyond. For example, there is a need to have technology solutions and analytics to intelligently mine transaction data for business gains. Also, creating a digital platform to measure the effectiveness of marketing expenditure is reflective of a changing mindset.” 

FADA Secretary & Chairman DSS-21, Mr C S Vigneshwar said, “I am thrilled to say that FADA took more than 2,000 samples, the highest ever number which has been used for such a study in India. The survey being filled entirely by the Dealer Principals, or their CEOs is a testimony of its accuracy and coverage of all aspects of dealerships in detail. DSS 2021 also has an equal distribution of samples from all 4 zones coupled with the right urban and rural mix. I am thankful to the entire dealership fraternity for devoting a sizable time. I am also grateful to all OEMs who persuaded their dealers to do the needful.” 

PremonAsia Founder and CEO, Mr Rajeev Lochan said, “The industry average satisfaction score of 657 indicates that OEMs have a significant headroom to improve in meeting the needs of their channel partners, particularly for the 2-wheeler and commercial vehicle segments. Kia Motors’ performance is commendable with segment and industry leading ratings across all the factors. Not only are Kia’s dealers satisfied on most of the hygiene needs, but they are also truly delighted with the product and their business viability.” 

At the Overall Industry Level, Dealers attach high importance of 27% on Business Viability, making it a highly critical aspect where OEMs need to exhibit greater sensitivity, particularly since the current satisfaction level on this factor is weak.  

On the positive side, dealers feel that products, both in terms of quality and range by and large meets the expectations of end customers’ current needs though its evolution in the future will require more frequent refresh. While Dealers of mass market PV remained most satisfied with an average of 720 on a scale of 1,000, 3-Wheeler segment scored the lowest, 610 on a scale of 1,000 amongst all segments.  

In 4-Wheeler Mass Market Segment, while Dealers raised their concerns about OEMs not being receptive to their inputs for keeping viable and long term policy in mind, they also said that OEMs provide adequate training for frontline sales & service staff thus keeping the end customer satisfied. 

In 4-Wheeler Luxury Segment, the study found that training cost sharing arrangement by the OEMs was unsatisfactory and OEMs ability to fulfil vehicle order in correct specifications and quantity coupled with non-flexibility to choose workshop equipment’s were cause of major concerns. The study also found that extended warranty policy & customer handling process were at satisfactory levels. 

In 2-Wheeler Segment, the biggest concern which the study highlighted was OEMs were not open to Dealer inputs in terms of improving dealership cost structure from viability and policy point of view. Similarly, there was no support from OEMs on buy back of dead stocks of parts. On the positive side, the study found that OEMs were fair in acceptance and rejection of warranty claims. 

The study for Commercial Vehicle Segment showed that while OEMs need to handhold dealers in improving sales efficiency & controlling cost of sales, they were quite happy about the overall product range and quality of fully built vehicles. Dealers were also satisfied as they could directly communicate with OEMs senior leadership team for discussing business viability and long term policies. 

Dvara KGFS Strengthens Its Digital Platform For Rural Customers

Dvara Kshetriya Gramin Financial Services Pvt Ltd (Dvara KGFS), an NBFC operating in remote rural areas of India, has announced the acquisition of ‘TransactNow’ digital platform from Transact Nexus Tech Private Limited, an early phase tech start up providing digital financial services to the unbanked & underserved population of India through an acquihire mode.  With this, Dvara KGFS is starting a new Channel – KGFS Digital which will foray into the agent driven business model providing a vast array of financial services to rural customers through Agent Touch Points located in close proximity to the villages in line with the Omni-Channel Strategy envisaged by Dvara KGFS.  

The Covid-19 pandemic has played a major role in Dvara KGFS’s operations to adapt and evolve digital technology based on its observations in customer behavioural patterns. As per IMAI, India has more rural internet users than urban users and thus this upgradation is to ensure that banking process are made easy and simple for the people in the rural areas with technology.  

Dvara KGFS intends to on-board over 40,000 retail agents across the operating districts in the next 3 years who would be using its agent app KGFS Mitra, to  offer a wide array of services  including Mobile & DTH Recharge, payment of Water, Electricity & LPG Bills, Bus & Train Ticket Booking, Domestic Money Transfer Cash withdrawals  & Balance Enquiry using AEPS (Aadhar Enabled Payment System) and many more apart from customer being able to avail & service Dvara KGFS offerings- loan, savings, insurance & investment products through these Digital Agents. The Digital Agents are typically small kirana store owners located in the middle of the village & this solution would act as an additional income source to these small retailers. The application will soon be added with features to accept digital payments using UPI & Aadhar Pay so that merchants are able accept all their payments through digital mode.  

Mr. Joby C O, CEO, Dvara KGFS comments, “We are excited about the acquisition of TransactNow. The team and technology will help us to scale up our Digital channel - a network of agents offering all our products with great amount of transaction convenience to customers in the close proximity of their village. We are hoping that this initiative would help customers avoid travel during the pandemic and avail all financial services in their village. KGFS Digital, the new channel led by Mr. Sathishkumar, will start scaling up the agent network very soon.” 

Commenting on the development, Mr. LVLN Murty, Deputy CEO, Dvara KGFS said, “We are happy to see the kirana store owners become our digital agents for the same. They have eased out operations by helping us with the execution at the ground level & becoming our extended hands at the village level and we are able to truly provide door step services to our customers. The response at which rural people are adapting to these digital transformations is commendable and this progress gives us hope that even the rural India is heading towards a technology driven section of the society.” 

Mr. Sathiskumar, CEO, Transact Nexus Tech Pvt Ltd commented, “There is a huge potential for financial services in rural India which remains untapped because of the reach. We decided to help Dvara KGFS to tap that by developing a software which will help the rural population carry out all their financial transactions on digital mode through the agent network. Dvara KGFS’s great rural reach will help millions of people to carry out financial transactions now digitally in close proximity through the agent network.”  

Mahindra Manulife Mutual Fund Launches ‘Mahindra Manulife Flexi Cap Yojana,’ For Investors Seeking Long-Term Capital Appreciation

*   Selection of around 500+ investible ideas from the domestic stock-scape studied by team of  analysts

*    Active allocation across market capitalization based on  macro-economic indicators, policy environment, valuations,  market conditions

*   Bottom up stock selection across market caps. Active portfolio management for suitable weights and appropriate  entry/exit levels

Mahindra Manulife Investment Management Private Limited, a 51:49 joint venture of Mahindra & Mahindra Financial Services Limited (MMFSL) and Manulife Investment Management (Singapore) Pte. Ltd. (‘Manulife Singapore’) launches ‘Mahindra Manulife Flexi cap Yojana,’ an open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. The scheme is suitable for investors who are looking for long term capital appreciation by investing in a diversified portfolio of equity and equity -related securities across market capitalization.

Mahindra Manulife Flexi cap Yojana (‘Scheme’) will have portfolio allocation based on top-down approach and bottom-up stock selection. The fund will have flexibility to invest in opportunities across market capitalization, and aim to construct the portfolio with a mix of core investment opportunities (medium to long term compounding stories), and tactical investment opportunities (for eg. cyclical sector, commodities cycle, etc.). The flexi cap fund will have minimum 65% investment in equity and equity related instruments.

Mr. Ashutosh Bishnoi, MD and CEO, Mahindra Manulife Investment Management Private Limited, said “Indian equity markets have sustained their rally upwards notwithstanding the fierce second wave of covid-19 pandemic. The benchmark indices have almost doubled since the declaration of nationwide lockdown at the end of March 2020. However, it’s very likely that equity markets may remain volatile owing to various uncertainties prevailing across global economies. The flexi cap funds are capable of delivering steady returns across market cycles, and are appreciated for their diversified approach that ensures balance between risk and return. The flexibility to switch, if and when needed to mid and small-caps, which are better positioned to capture any potential upside from expected economic recovery make these funds well acclaimed.”

The New Fund Offer opens on July 30, 2021 and closes on August 13, 2021. The scheme will reopen for continuous sale and repurchase from 25th August, 2021.

Mahindra Manulife Flexi cap Yojana would invest 65% in equity and equity related securities, and will have an option to invest upto 35% in debt and money market securities including tri-party repo, reverse repo, and upto 10% in units issued by REITs & InvITs.

Mr. Krishna Sanghavi, Chief Investment Officer – Equity, Mahindra Manulife Investment Management Private Limited said “The Mahindra Manulife Flexi cap Yojana is ideal for investors looking for an agile diversified fund. The fund will have robust GCMV process, an internal investment framework used for determining fair valuation of stocks which further helps in estimating valuation gaps (fair valuation vis a vis market price), if any. Opportunities are identified based on the identification of Catalysts that helps in bridging the valuation gaps by re-rating of the stocks.”

This product is suitable for investors who are seeking:

·         Long term capital appreciation

·         Investment in diversified portfolio of equity & equity related instruments across market capitalization.

* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Strong Financial Performance For Union Bank of India In Quarter Ended June 30, 2021

The Board of Directors of Union Bank of India today approved the accounts of the Bank for the Quarter ended June 30, 2021. 

Key Highlights in Q1FY22 

Strong Financial Performance: 

Operating Profit and Net Profit of the Bank improved by 31.45% and 254.93% respectively on YoY basis during Q1FY22. Net interest income of Bank grew by 9.53% on YoY basis during Q1FY22. 

2.    Bank continues to demonstrate a strong liability franchise 

The CASA deposits have increased by 11.23% YoY. We now have a total deposits base at Rs.9,08,528 Crores as at the end of Q1FY22. CASA ratio improved to 36.39% from 33.30% on YoY basis. 

3.    Credit in Retail, Agri and MSME (RAM) segments grown by 8.92% on YoY basis 

Bank registered 10.61% growth in Retail, 12.70% growth in Agriculture and 3.33% growth  in MSME advances on YoY basis. RAM advances as % of Domestic Advances improved by 451 bps on YoY basis to 56.08%. 

4.    Reduction in NPA:- 

Gross NPA (%) reduced by 135 bps on YoY basis to 13.60% and Net NPA(%) reduced by 28 bps on YoY basis to 4.69% as on 30.06.2021. Credit Cost reduced by 135 bps QoQ for Q1FY22. 

5.    Cost to Income ratio of the Bank improved by 320 bps on YoY basis 

Cost to Income ratio of the Bank improved by 320 bps on YoY basis from 48.71% during Q1FY21 to 46.51% during Q1FY22. 

6.    Improved capital ratios 

CRAR improved from 11.62% as on 30.06.2020 to 13.32% as on 30.06.2021. CET1 ratio improved to 9.77% as on 30.06.2021 from 8.40% as on 30.06.2020. 

Tech Mahindra Revenues And EBIT Beats Estimates In Apr-Jun ’21 Quarter Results

 Actual vs. expectations

Revenues and EBITM both were ahead of our and consensus estimates.

Likely stock reaction


Key positives – Broad based growth, strong deal intake (USD815mn), EBITM beat.

Result Summary

·         TechM reported revenues of USD1.38bn, up 4.1%/14.6% QoQ/YoY (CC 3.9%/10.8% QoQ/YoY), ahead of our expectations of USD1.36bn. Revenues from Communications and Enterprise segments grew 2.9% QoQ CC and 4.5% QoQ CC respectively.

·         EBITM fell 80bps sequentially to 15.2% and came 120bps ahead of our expectations on account of lower depreciation and SG&A costs.

·         Adj. Profits at Rs13.85bn (25.1% QoQ, 39.2% YoY) was 18% ahead of our estimates on account of revenue and EBIT beat, higher other income and lower taxes.

·         Net new deal intake was robust at USD815mn (Communications – USD352mn and Enterprise – USD 463mn).

Relative performance compared to Tier-1 cos in Jun’21:

·         Revenue growth - TCS US$ 6.15bn, 2.4% CC QoQ; Infosys US$3.78bn, 4.8% CC QoQ; Wipro US$2.4bn, 12% QoQ CC (organic 4.9%); HCLT US$2.72bn, 0.7% QoQ CC.

·         EBITM - TCS Adj. EBITM fell 130bps QoQ to 25.5%; Infosys Adj EBITM declined 80bps QoQ to 23.7%, Wipro IT services EBITM declined 320bps QoQ to 17.8%; HCLT adjusted EBITM declined 80bps QoQ to 19.6%.

Growth by Verticals

·         Telecom: 12.6%YoY ( V/s -0.2% YoY in Mar’21 quarter)

·         Manufacturing: 12.2%YoY ( V/s -5.2% YoY in Mar’21 quarter)

·         Retail, transport & logisitcs:  16.4%YoY  ( V/s 6.2% YoY in Mar’21 quarter)

·         Technology, media & entertainment: 22.7% YoY( V/s 27.8% YoY in Mar’21 quarter)

·         Banking, financial services & insurance: 19.7% YoY (V/s 10.3% YoY in Mar’21 quarter)

·         Others: 11.1% YoY (V/s -3.4% YoY in Mar’21 quarter)

Growth by Geographies

·         US: 8.4%YoY ( V/s -2.1% YoY in Mar’21 quarter)

·         Europe: 20.5%YoY ( V/s 2.7% YoY in Mar’21 quarter)

·         ROW: 20.7% YoY( V/s 11.5% YoY in Mar’21 quarter)

Manpower details

Total Headcount: 126,263 up 4.3% QoQ

LTM Attrition: 17%, V/s 13% in Mar’21 quarter and 12% in Dec’20 quarter.

Manipal Institute Of Virology, Kasturba Medical College Created Awareness On World Hepatitis Day – Attended Over 300 Participants

Manipal Institute of Virology (MIV) organized an online international webinar on World Hepatitis Day, in the honour of Dr. Baruch Blumberg, a Nobel Laureate, well known for his exceptional work on the discovery of Hepatitis B virus and vaccine, jointly with Department of Gastroenterology and Hepatology, and Department of Immunohematology and Blood Transfusion of Kasturba Medical College (KMC), Manipal on 28th July and the webinar was attended by more than 300 participants across the globe.

 The webinar featured expert talks from scientists across the globe. Dr. Sharath Kumar Rao, Dean and Professor, KMC, MAHE, Manipal stated that “this day marks the celebration of the progress made against hepatitis”. The Chief Guest of the webinar, Lt. Gen. (Dr.) M.D. Venkatesh, Vice-Chancellor, MAHE inaugurated the session and addressed the participants emphasizing this year’s theme, “Hepatitis Can't-Wait!”. He also mentioned the importance of awareness programs and webinars in sending a message against Hepatitis during this pandemic period and the global objective of eliminating Hepatitis by 2030. 

Dr. Chiranjay Mukhopadhyay, Director, MIV gave a brief overview of the achievements of MIV and KMC in quality research. He also spoke about the challenges faced during the COVID-19 pandemic, the lack of quality-assured serological tests, the dearth of low-cost virological in-vitro diagnostics, and limited facilities for testing hepatitis.

 Dr. Shiran Shetty, Professor, and Head of, Department of Gastroenterology, KMC, MAHE, Manipal intrigued the crowd with ‘Case capsules on Hepatitis-B related liver diseases. Dr. Shetty enlightened the participants about the mitigation of Hepatitis A and D viral infections with equitable emphasis on sanitation practices. He explained the phases of chronic Hepatitis B infections, the complications like cirrhosis associated with chronic HCV infections, and the dynamicity of hepatotropic infections. He spoke about how surveillance and monitoring are indispensable for keeping these infections in check. 

Dr. Pradip Devhare, Assistant Professor, MIV, MAHE, Manipal, presented an elaborative overview about ‘COVID-19 and Liver disease’. He started off by giving statistical data showing liver disease causes 2 million deaths/year worldwide, out of which 1 million deaths are due to liver cirrhosis and the remaining deaths are due to viral hepatitis and hepatocellular carcinoma. India accounts for 1/5th (18.3%) of all cirrhosis deaths globally. Chronic injury to the liver may be due to viral infection, alcohol consumption, obesity, drug-induced injuries, etc. He discussed the hepato-tropism of SARS-CoV-2 and the potential mechanisms of COVID-19 associated liver injury based on clinical and experimental data. 

Dr. Devhare presented some case studies where the mortality rates of COVID-19 infected patients with Chronic Liver Disease (CLD) were compared with that of patients without CLD. Case reports where Hepatitis B virus reactivation was observed after the administration of immunomodulatory drugs were also discussed. He expressed concern that due to the pandemic and lockdown restrictions the surveillance of CLD patients has been reduced and that the efficacy of COVID-19 vaccines must be studied in patients with CLDs. He concluded that “according to mathematical models, a 1-year delay of Hepatitis C treatment administration may yield a mortality up to 44,800 because of hepatocellular carcinoma and 72,300 liver-related deaths”. 

Dr. Shyamasundaran Kottilil, Professor of Medicine and Co-director, Institute of Human Virology (IHV), University of Maryland, Baltimore, MD, USA, presented a detailed ‘Historical perspective of Hepatitis C Virus (HCV)’, with milestones such as the first description of non-A and non B hepatitis in 1975, followed by the first confirmation of transmissible agent in non-A, non-B hepatitis in 1978; the first report of treatment with interferon-α in 1986; discovery, identification and isolation of HCV and antibody in 1989 by Alter and Houghton; cloning of infectious HCV in 1997; to the awarding of Nobel prize to Harvey Alter, Michael Houghton and Charles Rice in 2020 for their work on Hepatitis C. Dr. Kottilil explained the progression of HCV in hepatocytes, its mechanism of escaping the immune system, and how it exists as quasispecies.

 “Hepatitis C is a major prevalent disease and 1% of the global population is at risk. It is the major cause for liver transplant in patients”, quoted Dr. Kottilil. He emphasized that “Hepatitis C is curable and can be treated even after reinfection by Directly Activating Antivirals (DAA) for viral clearance”. The highly interactive webinar was concluded by Dr. Piya Paul Mudgal, Associate Professor, MIV, MAHE, Manipal which was attended by 300 participants across the globe.

The New OPPO Reno6 5G Goes On Sale: India’s First Phone With MediaTek 900 Chipset


·   Comes with OPPO’s exclusive Reno Glow design and five-layer gradient process which gives it a shimmery look

·    The device boats of Industry-first cinematic Bokeh Flare Portrait Video, AI Highlight Video, OPPO's exclusive Reno Glow design, ColorOS 11.3, 4300mAh battery with 65W SuperVOOC 2.0

·    OPPO Reno6 5G will be available today onward, at a retail price of INR 29,990

After the successful launch of the Reno6 Pro 5G and the Reno6 5G on 14th  July, OPPO, the leading global smart device brand, announces the sale of OPPO Reno6 5G, starting today on Flipkart and mainline retailers.

In line with Reno’s legacy of industry-first customer-centric technology innovations, the OPPO Reno6 5G is an all-rounder superphone that features India’s first MediaTek Dimensity 900 chipset with 8GB RAM, 128GB ROM and support for internal RAM expansion by OPPO.

Bundled with some exciting offers the OPPO Reno6 5G will come in two dazzling colour variants Aurora and Stellar Black. The OPPO Reno6 5G will be available for INR 29,990 on Flipkart along with attractive offers, with the first sale starting today.

The Reno6 5G is a must-buy for video creators this season, packing in the industry-first Bokeh Flare Portrait Video, a cinematic Bokeh Flare Effect that captures professional-grade videos, along with superlative imaging capabilities and editing tools that makes the phone your own mini personal studio.

The new Reno flagship features OPPO’s exclusive Reno Glow design and five-layer gradient process which gives it a stunning shimmery look. The unique AG glass process makes the smartphone fingerprint-resistant while providing a matt in-hand feel. The Aurora colour of the phone boasts a diamond spectrum design that reflects different colours when viewed from different angles. The sleek and stunning performance powerhouse is just 7.59mm thin and weighs only 182g while including 65W SuperVOOC 2.0, which can charge its powerful 4300mAh battery to 100% in about 28 minutes.

The smartphone comes with OPPO’s ColorOS 11.3, equipped with productivity-improving features such as the System Booster, Freeform Screenshots along with some other key features for a seamless experience.  The phone is also equipped with a built-in app, O Relax, containing a suite of soothing sounds to calm your mind.


The new OPPO Reno6 5G will be available with attractive schemes and offers. Cashback up to ₹3000 on HDFC Bank, ICICI Bank, and Kotak Bank on Credit Cards/ Debit Cards EMI Transactions valid till 31st July, 2021. Customers can also avail 15% instant cashback when they make payments through Paytm. Attractive cashback up to ₹3000 is also on offer from Bajaj Finserv first time with OPPO, while a single EMI Cashback is available from IDFC First Bank. Besides, Zero Down payment and Long Tenure EMI schemes are also available from all the leading financers. Loyal OPPO users can also avail of an Exchange bonus—up to INR 3000 valid till July 31st, 2021—with the purchase of Reno6 series along with Complete Damage Protection for 180 days.

OPPO Premium services including 80% assured payback other attractive offers for loyal OPPO customers. For detailed information, visit the official website or nearest store.

Total Pageviews