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LIC Housing Finance net up 14%
LIC Housing Finance (LICHF) reported a 14 per cent rise in net profit to Rs 153.58 crore for the quarter ended December 2009 compared with Rs 134.33 crore in the year-ago quarter.

British banks to see recovery falter: survey
British banks fear their fragile recovery will grind to a halt over the next few months, according to a survey by employers" organisation the Confederation of British Industry (CBI).

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Airtel not affected by global slowdown
Telecom company Airtel today said it is not affected by the global slowdown as the sector still had growth prospects and that the recessionary trends are showing signs of ending in many countries.
Public Relations

Ashok Leyland working on better bus platform

Ashok Leyland is working on a new bus platform, which “will offer a higher level of comfort and safety in public transportation”, says R Seshasayee, managing director. Its portfolio includes high-floor buses comprising the Viking & Cheetah series, vestibule and double-decker buses, semi-low-floor buses, and airport transfer air-conditioned coaches. Seshasayee was speaking on the sidelines of the launch of the company’s U-Truck series. - "We expect 15-20% of mkt in 5 years" - Auto firms lead investments in TN - Ashok Leyland to roll out 25 products in 18 months - Mahindra to trump Ace with Maxximo - CV sales likely to rise in coming months - ONGC, partners to invest over Rs 46,000 cr in Iran Ashok Leyland, which entered into a 50:50 joint venture with US-based John Deere Construction & Forestry Company in 2008, will commence the manufacture of backhoes, wheel loaders and excavators in January 2011 for both the domestic and export market. “We have identified the land for this joint venture close to Chennai,” says Seshasayee. On the company’s foray into light commercial vehicles (LCVs) through a joint venture with Nissan, Seshasayee says the LCVs will be rolled out both from Leyland’s plant at Hosur and from Nissan Renault’s upcoming plant on the outskirts of Chennai, which constitute the first phase. “In the second phase, we would roll out LCVs from the JV’s new plant, which is also located close to Chennai.” It is a 51:49 JV, named Ashok Leyland and Nissan Vehicles Pvt Ltd. On branding, Seshasayee said there will be no dual branding. “LCVs carrying the Ashok Leyland brand will be positioned as value propositions, while those badged as Nissan will be positioned in the premium segment. On the distribution aspect, there could be shared dealerships. The LCVs will be available in the commercial market from 2011.


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