Tata Steel was the biggest gainer in the Sensex pack, rallying 5.78 per cent; followed by Yes Bank, NTPC, L&T, Axis Bank, SBI, M&M, HDFC twins, Vedanta, HUL, PowerGrid, ICICI Bank, Kotak Bank, HCL, TCS and ITC, gaining up to 3.79 per cent.
General Motors HAS appointed Arvind Saxena, former Managing Director of Volkswagen Passenger Cars India, as the President & Managing Director of its Indian unit.
Ride-hailing firms claim penetration is still low and there is a huge upside to grow the market and make owning a car pass.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
Although most companies had geared for increased production at their plants, most say the surge in demand was unexpected, partly driven by yesteryear purchases which had been postponed earlier due to lack of funds.
Bajaj Auto's ultra low-cost car project may have a bumpy ride ahead, with partner Renault India still to take a final call on branding and marketing the vehicle.
The Sensex was mainly dragged by Tata Motors, ICICI Bank, Bharti Airtel and Reliance Industries -- shedding as much as 4.60 per cent.
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
In the Sensex pack, Tata Motors was the biggest loser, shedding 3.29 per cent, followed by ICICI Bank, IndusInd Bank, Infosys, HCL Tech, Axis Bank, TCS, HUL, Asian Paints, Sun Pharma, SBI, Tata Steel and NTPC, which dropped up to 3.23 per cent.
Amid an uproar over corruption in Parliament, leading industrialist Rahul Bajaj on Tuesday hit out at large corporate houses that pay bribes to get jobs done and claimed he never did it.
Markets
In a first at the National Institute of Design (NID), academic profiles were offered to the graduating batch of young designers during placements this year.
These companies had threatened to leave Maharashtra and invest in other states when the state government had brought amendments to the Maharashtra VAT Act with effect from April 1, 2011, and made net sales the basis for VAT set-off claims.
Auto companies in the state are likely to go on an expansion drive buoyed by better-than anticipated sales over the past few quarters.
The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines. The violations varied from opening branch offices without seeking the regulator's permission to violation of advertisement guidelines and non-fulfilment of social sector obligations.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
Bajaj Auto will be launching the Kawasaki Ninja 650R on the June 8. So what is the Ninja 650R all about? Find out.
In the Sensex pack, Vedanta took the biggest hit (5.55 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, which lost up to 4.50 per cent.
It is confidential for Bajaj, Nissan and Renault and so, I will not speak much about it." The total cost of this project is Rs 2,000 crore (Rs 20 billion).
In the Sensex pack, Vedanta rallied 3.20 per cent, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent.
The bad news is that the company has reported an output constraint at its plants because some component vendors were unable to keep pace with the faster production cycle.
After many attempts, Bajaj finally has a bike to counter Hero Honda in the 100cc segment.
In 2008, the companies had planned a tripartite joint venture entity that would build and sell a $3,000 (about Rs 1.4 lakh) competitor to Tata Motors' Nano, the world's cheapest car. Bajaj was to have a 50 per cent stake, with Renault and Nissan having 25 per cent each.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
The first of these bikes would be launched in the European market by the end of this year, followed by the India launch during the first half of next year.
Led by market leader Hero Honda, two-wheeler manufacturers posted an impressive growth in sales during the month of November on the back of favourable bank lending rates and a good response to new launches. Heavy promotional campaigns and sales offers by most companies also aided demand.
The Supreme Court on Monday allowed Chennai-based two-wheeler company TVS Motor Company Ltd to manufacture TVS Flame, a 125-cc bike sporting twin-spark plugs, the technology for which Bajaj Auto allegedly holds the patent rights.
Bajaj Auto Managing Director Rajiv Bajaj said the company has, in partnership with Renault-Nissan, developed India's most fuel efficient and least-polluting car engine.
The partners have, thus, solved the tricky issue of pricing, which has been widely speculated as the reason for the delay in the project announced in 2008.
In the Sensex pack, Bharti Airtel was the top performer, surging 4.61%. Other gainers included ICICI Bank, IndusInd Bank, L&T, Sun Pharma, RIL, HDFC duo, Tata Motors and M&M -- climbing up to 3.69%.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
Japanese auto major Nissan Motor Co plans to launch a $3,000 car (about Rs 134,000) in 2012 in India to challenge Tata Nano, the world's cheapest passenger car.
For the first time in more than 25 years, Japans Kawasaki Heavy Industries will introduce a high-powered motorcycle in the Indian market with the help of its Indian partner and long-time collaborator, Bajaj Auto.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
Nissan also has a car-manufacturing tie-up with its global alliance partner Renault.
Japanese carmaker Nissan on Tuesday said it is in talks with Hinduja flagship company Ashok Leyland for developing a small car for the global market that could be priced around $4500-5000.
Check out the 12 contestants of the new reality show on TV -- Pulsar MTV Stunt Mania.
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