Business News
Sensex rangebound; Tata Power, Reliance Infra up
A benchmark index for Indian equities markets witnessed a rangebound session Friday after a sharp post-budget rally.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened sharply higher at 18,622.70 points, pared the gains in the afternoon and was trading at…
Milk, vegetables, meat prices keep food inflation high
Despite prices of vegetables, milk, eggs, meat and poultry remaining high, India’s annual food inflation declined to 10.39 percent for the week ended Feb 19, from 11.49 percent for the week earlier, official data showed Thursday.Limited data on the wholesale price index released by…
Bajaj Auto sales jump 22 percent in February
Two and three-wheeler maker Bajaj Auto Monday reported 22 percent rise in its sales at 326,874 units in February against 266,678 units in the like period of the previous year.The company’s motorcycle sales jumped 22 percent for the period at 286,657 units, compared to…
Tata Pixel showcased at Geneva Motor Show
Indian automobile giant Tata Motors Tuesday showcased the Pixel – its new city car for the European market based on the its compact model Nano – at the 81st Geneva Motor Show, a statement said.Tata Pixel is just over three metres in length and…
Hero Honda’s February sales up 23 percent
Two-wheeler major Hero Honda Motors Monday reported an increase of more than 23 percent in its sales figure for February, which stood at 4,72,055 units over 382,096 units in the corresponding month last year.“Our performance throughout this fiscal has been very consistent and the…
Indian economy grows 8.2 percent in third quarter
The day Finance Minister Pranab Mukherjee projected an 8.6 percent growth for the current fiscal, official figures Monday showed the economy grew 8.2 percent in the third quarter of current fiscal, slower than an average of 8.9 percent in the first two quarters.Quarterly gross…
Aircel targets 2G client base for 3G service
Mobile telephony provider Aircel, which plans to roll out its 3G services across 13 circles by March, expects a sizeable chunk of its existing client base to opt for the new service, a top company official said.Launching the service here Tuesday, Chief Operating Officer…
Diesel price may be freed if inflation falls
India is likely to deregulate diesel prices once general inflation level falls to 6 percent, C. Rangarajan, chairman of the economic advisory council to the prime minister, said Monday.“I think 6 percent inflation is a good level to deregulate diesel price,” Rangarajan told reporters…
Gold consumption up by 66 percent in 2010
World Gold Council’s Indian chapter Friday reported that the country consumed 66 percent more of the precious metal in 2010 as compared to the previous year — a total of 963.1 tonnes valued at Rs.1,733.3 billion (about $38.4 billion).WGC said the growth was primarily…
Reliance Communications Q3 net profit up 7.7 percent
Leading telecom service provider Reliance Communications Monday reported a 7.7 percent rise in its net profit at Rs.480 crore ($107 million) for the quarter ended Dec 31 as compared to the previous quarter.The company, part of the Anil Dhirubhai Ambani Group, also saw its…
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