28 & 29 July 2013

Higher dues demand strange: Maruti

Maruti Suzuki, leader of the domestic car industry, has described demands of additional compensation for the 600-odd acres in Manesar , where the company has a car factory, as "unreasonable and strange".

Kenichi Ayukawa, the new MD and CEO of Maruti Suzuki, said enhanced payment demands after almost a decade of the company's presence in the area only makes India a bad investment destination as far as corporates are concerned.

Wipro shares jump over 9% on smart Q1 results

Shares of Wipro, the country's third- largest software exporter, on Monday surged over 9% after the IT major reported an 11% rise in June quarter profit and said it was upbeat about demand for its outsourcing services.

Cheering the smart quarterly numbers which were declared post market hours on Friday, shares of Wipro opened the day on a positive note and further jumped 9% to Rs 417.50 on the BSE.

The scrip was the top gainer at the BSE benchmark Sensex during the morning session.

New investments in India's manufacturing sector virtually on hold: Survey

New investments in the country's manufacturing sector are virtually on hold, with half of the companies indicating that they have no plans for major investments in the fiscal year 2013-14, says a survey.

According to a survey jointly conducted by PwC and Ficci titled - "India Manufacturing Barometer", sluggish economic growth and deceleration in production have made manufacturing companies tread cautiously.

"In an environment of sluggish economic growth, it is not surprising that the mood exhibited by companies is cautious," PwC India Leader Industrial Products Bimal Tanna said.

Hindustan Motors ready with BS-IV compliant Ambassadors

Hindustan Motors has finally bounced back by rolling out its BS IV complaint 1.5-litre diesel Ambassador, three years past deadline.

While sale of Bharat Stage III cars was banned in 17 cities - including Kolkata - from April 1, 2010, HM continued to manufacture and sell BS III yellow taxis in the replacement market following a special notification from the government. That honeymoon was about to end with the government terminating the BS III-extension favour to HM and allowing other manufacturers, including Maruti Suzuki and Mahindra & Mahindra, to supply cabs.

No proof against Gurunath, Kundra, says BCCI probe panel

Exactly 58 days after he "stepped aside" as BCCI president, the decks have been cleared for N Srinivasan's return to the helm of the richest cricket body in the world.

A report submitted by a two-member panel that probed allegations of betting and spot-fixing against Srinivasan's son-in-law Gurunath Meiyappan, India Cements Ltd (owner of Chennai Super Kings) and Jaipur IPL Pvt Ltd (owner of Rajasthan Royals), found no direct evidence of wrongdoing on the part of any party. The panel consisted of two former judges of the Tamil Nadu high court, Jayaram Chouta and R Balasubramanian.

Ind vs Zim: India beat Zimbabwe by 7 wickets to take unassailable 3-0 lead

A disciplined India notched up a convincing seven-wicket victory over Zimbabwe in the third one-day international to secure an unassailable 3-0 lead in the five-match series on Sunday.