Sales grew smartly during the quarter but rising packaging and marketing costs hit UB’s profitability. Other income earned from deploying surplus funds came to its rescue.
Tata Motors is seeking to make use of JLR’s rising cash flows by leveraging its balance sheet, and refinance existing debt and potentially lower interest costs too.
State Bank of India’s reaction to the credit policy was swift, in a move which will see short term deposit rates spike and all loans will become expensive.
