Monday, December 20, 2010

Toyota to pay $32.4m in extra fines over recalls

Toyota to pay $32.4m in extra fines over recalls

Toyota to pay $32.4m in extra fines over recalls

Posted: 20 Dec 2010 08:45 PM PST

Toyota has agreed to pay 32.4 million dollars in fines over its handling of two auto recalls, bringing total penalties levied on the firm to 48.8 million this year, officials said Monday.

India buying back onions from Pakistan after exporting tonnes

Posted: 20 Dec 2010 08:34 PM PST

India exported thousands of tonnes of onion to Pakistan earlier this year when the latter was battling catastrophic floods. However, foreseeing a poor crop, India is now buying back onion from Pakistan through the land route.

Rights issue: EIH scrip up

Posted: 20 Dec 2010 04:29 PM PST

Following reports that Sebi has cleared the Rs 1,300-crore rights issue of Oberoi Group flagship EIH, the stock of the hotels major jumped by almost 6% on BSE to close at Rs 119.

JSW Steel leads race for Ispat

Posted: 20 Dec 2010 04:29 PM PST

Sajjan Jindal-led JSW Steel is said to have emerged the frontrunner to acquire a majority stake in the troubled Ispat Industries (IIL) in a deal valued at over Rs 2,000 crore.

Tata, RCOM told to hold 3G rollout

Posted: 20 Dec 2010 04:27 PM PST

The GenNext mobile services - 3G - which includes video calling facility may take sometime to hit market as government has asked leading telecom operators Tata Teleservices and RCom to stop it till they adhered to security norms for its legal interception.

Maruti's 'made in India' car to rev up by ’12

Posted: 20 Dec 2010 04:27 PM PST

The country's largest carmaker Maruti Suzuki India's (MSI) 'made in India' car will hit the roads by 2012 and the company is likely to finalize the design within the next six months.

Cash crunch hits Indian banking system

Posted: 20 Dec 2010 04:18 PM PST

Year 2010 is proving to be a year of fund crunch for the Indian banking system. If use of RBI's overnight funding window is an indicator of things, Monday saw banks use the repo route to raise a record Rs 1.59 lakh crore.

ONGC pips SBI as largest advance tax payer

Posted: 20 Dec 2010 04:14 PM PST

In what is a battle between public sector players for the top taxpayer's slot, flagship explorer ONGC has stolen a march over State Bank of India, the country's largest lender.

PM sees end-March inflation at 5.5%

Posted: 20 Dec 2010 02:43 PM PST

Stating that inflation remains a concern for the country, Prime Minister Manmohan Singh said on Monday the inflation rate would stabilise around 5.5% by March and the government would continue to make all out efforts to calm soaring prices.

Record Rs 48.7 lakh flyers in Nov sent fares soaring

Posted: 20 Dec 2010 01:56 PM PST

With people taking to the skies like never before, flights filled up like Jan Shatabdis — albeit at prices many times over even first-class Rajdhani fares. On average, planes flew with 78% to 91% of all seats sold out.

IndiGo is India's no. 3 airline

Posted: 20 Dec 2010 01:09 PM PST

Following Jet and Kingfisher, IndiGo has overtaken Air India-domestic — the first time a low-cost airline has overtaken the national carrier. IndiGo, the country's youngest LCC at four, carried 8.43 lakh passengers in November, against AI domestic's 8.36 lakh, making it India's third largest domestic airline in terms of market share.

IndiGo 3rd largest, topples AI (domestic)

Posted: 20 Dec 2010 01:09 PM PST

After its full-service peers Jet Airways and Kingfisher, Air India domestic (erstwhile Indian Airlines) has for the first time been overtaken by a low-cost carrier (LCC).

Ispat Ind rises over 10% on takeover reports

Posted: 20 Dec 2010 06:29 AM PST

Shares of Ispat Industries today surged by over 10% on the Bombay Stock Exchange, amid media reports that JSW Steel and others are vying to acquire stake in the company.

Govt suspends onion exports due to high prices

Posted: 20 Dec 2010 04:56 AM PST

The Union government of Monday decided to suspend the exports of onion till January 15 in the wake of skyrocketing prices. Onion prices have doubled to Rs 60-70 a kg in retail markets in Delhi.

Gujarat has potential to lead next wave of growth in IT: Som Mittal

Posted: 20 Dec 2010 04:17 AM PST

The IT apex trade body Nasscom on Monday said that Gujarat has the potential to lead next wave of growth in the IT/ITeS segment amidst the pack of 44 cities identified by it for future growth in business.

Sensex ends flat; Hero Honda, Maruti, TCS up

Posted: 20 Dec 2010 02:40 AM PST

Benchmarks failed to hold on to intraday gains and ended on a flat note as traders booked profits near resistance levels. Realty, banks and pharma were amongst the top sectoral underperformers while auto and technology stocks ended on a positive note.

Tata Chemicals' arm to acquire British Salt for थ्93m

Posted: 20 Dec 2010 01:45 AM PST

Tata Chemicals' wholly-owned UK arm, Bruner Mond, has inked a binding agreement to acquire a 100 per cent stake in British Salt for £93-million and hopes to close the deal by end-this month, a top company official said.

Sensex erases early losses, up 57pts

Posted: 20 Dec 2010 12:05 AM PST

Erasing early losses, the Bombay Stock Exchange benchmark Sensex gained over 57 points at midsession today on emergence of buying in bluechips, led by auto and information technology sectors.

PM sees end-March inflation at 5.5%

Posted: 19 Dec 2010 10:20 PM PST

India's annual headline inflation is expected to ease to 5.5 percent by end-March 2011, Prime Minister Manmohan Singh said on Monday.
Posted by Harshad at 9:35 PM

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