Sunday, July 3, 2011

Fitch revises GDP growth to 7.7% for '11

Fitch revises GDP growth to 7.7% for '11

Fitch revises GDP growth to 7.7% for '11

Posted: 03 Jul 2011 01:14 PM PDT

As the stern anti-inflationary stance of RBI crimps growth and demand, ratings agency Fitch has lowered its growth forecast for the domestic economy in 2011 to 7.7% from 8.3%.

Global CV big guns set to scorch Indian roads

Posted: 03 Jul 2011 01:07 PM PDT

The Indian commercial vehicle industry is revving up for some fast-paced action. Long dominated by Tata Motors and Ashok Leyland, the market is set to witness a cut-throat competition as global players make a beeline to get a slice of one of the world's fastest-growing economies that is also seeing a surge in road infrastructure development.

Carlyle to sell 65% stake in Chennai publishing BPO Newgen

Posted: 03 Jul 2011 01:05 PM PDT

PE giant Carlyle Group is selling 65% stake in Chennai-based publishing BPO Newgen Knowledge Works to a group of investors led by Franklin Templeton. Carlyle is offloading controlling shares it acquired seven years ago in one of the first private equity buyouts in the country.

Macquarie SBI infra fund qualifies for road projects

Posted: 03 Jul 2011 01:00 PM PDT

Macquarie SBI Infrastructure Investment Pte Ltd, the $3-billion (Rs 13,500 crore) fund focused on the core sector, is finally moving. The fund—the brainchild of former State Bank of India chairman Om Prakash Bhatt—has qualified to participate in the construction of any highway project that costs up to Rs 9,200 crore.

Oil supply to India will continue: Iran

Posted: 03 Jul 2011 12:58 PM PDT

Iran's oil exports to India are continuing with no plans to halt supplies after a warning to the neighboring country over delays in paying for imported crude, an Iranian oil ministry official said.

Kumar Birla plans Madura stake sale

Posted: 03 Jul 2011 12:33 PM PDT

Kumar Mangalam Birla is mulling a value unlocking move in his privately held group company Madura Fashion & Lifestyle, formerly Madura Garments, after private equity funds approached with stake buy offers, sources directly involved with the matter said.

Online retail industry to touch Rs 7,000 crore by 2015

Posted: 02 Jul 2011 10:44 PM PDT

The online retail industry in India is likely to be worth Rs 7,000-crore by 2015 due to easy availability of broadband services and increasing internet penetration, according to industry body ASSOCHAM.

SBI MF scheme opens tomorrow

Posted: 02 Jul 2011 10:24 PM PDT

Country's sixth largest asset manager SBI Mutual Fund's new fund offer promising regular income on a minimum investment of Rs 5,000 will open on Monday.

Maruti Suzuki donates engines to edu institutions

Posted: 02 Jul 2011 10:18 PM PDT

The country's largest car-maker Maruti Suzuki has, for the first time, presented its engine and powertrain for educational institutions valued at Rs 1.5 crore in order to tap the skills of automobile engineering students.
Posted by Harshad at 9:49 PM

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