Finance

Tata Motors shows off first new cars in four years

New Delhi, Feb 04 (ANI): Tata Motors unveiled its first new models in four years, banking on two small cars to reverse the company's sliding passenger car sales in the face of growing foreign competition. In a bid to revive its fortunes, Tata is pinning its hopes for now on the all-new Bolt hatchback and Zest entry-level sedan to tap into the small car market that accounts for the bulk of passenger vehicle sales in India. Sales of Tata passenger vehicles in India fell an annual 37 percent in the first nine months of the fiscal year that ends in March, according to data from Society of Indian Automobile Manufacturers (SIAM).

Feb 4, 2014

Tata motors promises to improve safety measures after small cars fail crash tests

New Delhi, Feb 04 (ANI): Tata motors assured to work on the safety of its cars after certain popular small Indian cars fail first ever independent crash tests, revealing high risk of serious injuries in road accidents. A test conducted by GLOBAL NCAP, an independent UK based charity for consumer-orientated vehicle safety initiatives, showed disastrous results for some of the most popular running cars in India including Maruti Alto 800, Tata Nano, Ford Figo, Hyundai i10 and Volkswagen Polo. Following the reports, President of Tata Motors, Ranjit Yadav said that the company would meet the safety requirements of its cars as per global standards. The secretary general of Global NCAP, David Ward, said that it is important to give the consumer a safe car.

Feb 4, 2014

BSE closes points 319.18 down on Feb 3

New Delhi, Feb 3 (ANI): Trading at the Bombay Stock Exchange today closed 319.18 points down to stand at 20194.67. At the National Stock Exchange the Nifty closed 87.70 points down to stand at6001.80. Indraprastha Gas Ltd and Gujarat State Petronet were among the top gainers of Group A with an increase of 7.74% and 4.52% along with Lupin and Petronet LNG with an increase of 4.33% and 4.19% respectively, while the top losers of Group A include JSW Steel and Oberoi Realty with a decrease of 7.11% and 6.41% along with Jet Airways and Hindalco Industries with a decrease of 6.30% and 5.48% at the close of the markets. The Auto sector is down 223.96 points at 11,344.91 while the banking sector is down 157.83 points at 11,554.48 and the realty sector is down 25.32 points at 1,186.28. The Indian currency is down 0.08% at Rs 62.73 per dollar.

Feb 3, 2014

CNG price slashed by Rs. 15, piped gas by Rs. 5 in Delhi

New Delhi, Feb 3 (ANI): Oil Minister Veerappa Moily on Monday announced that CNG price will be reduced by about Rs 15 per kg and piped natural gas by about Rs 5 per cubic metres in Delhi. Speaking on the same Moily said that it is a move to benefit people and if the move helps in polls, it would be incidental.

Feb 3, 2014

BSE closes points 0.04 up on Jan 31

New Delhi, Jan 31 (ANI): Trading at the Bombay Stock Exchange today closed 0.04 points up to stand at 20498.29. At the National Stock Exchange the Nifty closed 13.20 points up to stand at 6086.90. Motherson Sumi and Suzlon Energy were among the top gainers of Group A with an increase of 12.28% and 9.92% along with CESC Ltd. and Indian Overseas Bank with an increase of 8.84% and 8.62% respectively, while the top losers of Group A include Essar Oil and National Alumini with a decrease of 8.38% and 5.68% along with Pipavav Defence & Offshore Engineering Company Ltd. and Jet Airways India with a decrease of 4.94% and 4.45% at the close of the markets. The Auto sector is down 36.44 points at 11,582.79 while the banking sector is up 95.07 points at 11,713.75 and the realty sector is up 18.61 points at 1,210.80. The Indian currency is down 0.08% at Rs 62.64 per dollar.

Jan 31, 2014

BSE closes points 140.41 down on Jan 30

New Delhi, Jan 30 (ANI): Trading at the Bombay Stock Exchange today closed 140.41 points down to stand at 20506.89. At the National Stock Exchange the Nifty closed 46.55 points down to stand at6073.70. Crompton Greaves and Oberoi Realty were among the top gainers of Group A with an increase of 9.48% and 6.66% along with Titan Company and IRB Infra with an increase of 3.94% and 3.73% respectively, while the top losers of Group A include Bank of India and United Spirits with a decrease of 10.06% and 7.19% along with HDIL and Godrej Industries Ltd with a decrease of 6.56% and 6.32% at the close of the markets. The Auto sector is up 47.02 points at 11,634.98 while the banking sector is down 309.01 points at 11,628.03 and the realty sector is down 26.70 points at 1,197.33. The Indian currency is down 0.57% at Rs 62.77 per dollar.

Jan 30, 2014

BSE closes points 140.41 down on Jan 30

Jan 30, 2014

BSE closes points 36.21 down on Jan 29

New Delhi, Jan 29 (ANI): Trading at the Bombay Stock Exchange today closed 36.21 points down to stand at 20647.30. At the National Stock Exchange the Nifty closed 6.00 points down to stand at6120.25. Maruti Suzuki and Adani Enterprises Ltd were among the top gainers of Group A with an increase of 7.11% and 6.09% along with HPCL and Indian Oil Corporation with an increase of 5.61% and 5.35% respectively, while the top losers of Group A include Indian Overseas Bank and Sobha Developers Ltd with a decrease of 5.83% and 5.34% along with Pipavav Defence and Financial Technology with a decrease of 4.97% and 4.19% at the close of the markets. The Auto sector is up 13.96 points at 11,587.96 while the banking sector is down 72.06 points at 11,948.42 and the realty sector is down 4.87 points at 1,226.36. The Indian currency is up 0.25% at Rs 62.36 per dollar.

Jan 29, 2014

Indian banks to wait before hiking loan rates post RBIs tightening

Mumbai, Jan 29 (ANI): Top Indian bankers said that they would wait to observe inflation and market trends further, before increasing the interest rates of loans to citizens for balancing funds due to the sudden hike in repo rate by the RBI. Reserve Bank of India (RBI), surprisingly raised interest rates for lending money to commercial banks on Tuesday to dampen inflation, saying it was now better prepared to deal with the risk of major capital outflows roiling emerging economies. The RBI, however, said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening. The hike in repo rate could have a direct impact on the lending rates of funds borrowed by the citizens from the commercial banks. Meanwhile, chief of Indian Banks’ Association, K.R. Kamath, said that banks would have to take a final call on the interest rates only after considering the burden on customers due to inflation.

Jan 29, 2014

BSE closes points 23.94 down on Jan 28

New Delhi, Jan 28 (ANI): Trading at the Bombay Stock Exchange today closed 23.94 points down to stand at 20683.51. At the National Stock Exchange the Nifty closed 9.60 points down to stand at6126.25. HDIL and Apollo Tyres were among the top gainers of Group A with an increase of 6.09% and 6.07% along with Future Retail and IPCA Lab with an increase of 4.26% and 3.89% respectively, while the top losers of Group A include Maruti Suzuki and IRB Infra with a decrease of 8.12% and 5.19% along with Suzlon Energy and Pipavav Defence with a decrease of 4.59% and 4.43% at the close of the markets. The Auto sector is up 18.64 points at 11,574.00 while the banking sector is down 36.58 points at 12,020.48 and the realty sector is up 13.17 points at 1,231.23. The Indian currency is up 0.67% at Rs 62.68 per dollar.

Jan 28, 2014

RBI hikes repo rate by 25 bps

New Delhi, Jan 28 (ANI): The Reserve Bank of India on Tuesday unexpectedly raised policy interest rate by 25 basis points. RBI Governor Raghuram Rajan however said that if consumer price inflation eases as projected it does not foresee further near-term tightening.

Jan 28, 2014

BSE closes points 389.88 down on Jan 27

New Delhi, Jan 27 (ANI): Trading at the Bombay Stock Exchange today closed 389.88 points down to stand at 20743.68. At the National Stock Exchange the Nifty closed 130.90 points down to stand at 6135.85. Glenmark Pharma and The Ramco Cements were among the top gainers of Group A with an increase of 5.49% and 3.54% along with Thermax and Hindustan Unilever with an increase of 2.60% and 2.46% respectively, while the top losers of Group A include Jaiprakash Associates and JP POWER with a decrease of 13.80% and 13.06% along with HDIL and GMR Infra with a decrease of 12.28% and 11.30% at the close of the markets. The Auto sector is down 397.76 points at 11,555.36 while the banking sector is down 499.10 points at 12,057.06 and the realty sector is down 89.11 points at 1,218.06. The Indian currency is down 0.72% at Rs 63.11 per dollar.

Jan 27, 2014

BSE closes points 240.10 down on Jan 24

New Delhi, Jan 24 (ANI): Trading at the Bombay Stock Exchange today closed 240.10 points down to stand at 21133.56. At the National Stock Exchange the Nifty closed 78.90 points up to stand at 6,266.75. Bharti Infratel and Mahindra and Mahindra Financial were among the top gainers of Group A with an increase of 2.50% and 2.40% along with Dabur India and Asian Paints Ltd. with an increase of 1.17% and 1.11% respectively, while the top losers of Group A include Ranbaxy Lab and Canara Bank with a decrease of 19.33% and 6.67% along with Biocon and Oriental Bank with a decrease of 5.61% and 5.48% at the close of the markets. The Auto sector is down 191.16 points at 11,953.12while the banking sector is down 240.70 points at 12,556.16 and the realty sector is down 43.02 points at 1,307.17. The Indian currency is up 0.28% at Rs 62.38per dollar.

Jan 24, 2014

Indian traders criticize Pakistan for halting cross-border trade

Poonch, Jan 23 (ANI): Indian traders criticised Pakistan authorities for halting cross-LoC (Line of Control) trade after the arrest of a Pakistani truck driver, who was arrested by the Indian security forces in connection with the smuggling of brown sugar last week.

Jan 23, 2014

BSE closes points 68.23 up on Jan 22

New Delhi, Jan 22 (ANI): Trading at the Bombay Stock Exchange today closed 68.23 points up to stand at 21319.35. At the National Stock Exchange the Nifty closed 19.80 points up to stand at 6,333.60.Jaypee Infratech Ltd and Torrent Power were among the top gainers of Group A with an increase of 5.18% and 3.58% along with Century Textiles and Bajaj Finserv Ltd. with an increase of 3.51% and 2.99% respectively, while the top losers of Group A include Mphasis and Mahindra and Mahindra Financial Services Ltd. with a decrease of 5.28% and 5.26% along with Dabur India and Berger Paints with a decrease of 4.06% and 3.04% at the close of the markets. The Auto sector is up 16.65 points at 12,256.39 while the banking sector is up 4.17 points at 12,773.68 and the realty sector is up 4.75 points at 1,348.40. The Indian currency is up 0.10% at Rs 61.82 per dollar.

Jan 22, 2014