From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards. ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.
The regulator has made it mandatory for insurers to have a minimum percentage of motor third-party business underwritten.
Stung by its indifferent show in India, the Detroit giant is overhauling the entire line-up of cars.
Maharashtra's Labour Minister Dilip Walse-Patil has sought a written submission from the General Motors' (GM) Employees Union and the management of the company detailing its stance on the issue of plant closure. The labour minister asked the warring sides for submission at a hearing on Tuesday. Both sides have been given a week's time to reply.
Schemes like the Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items.
The components would cater to GM facilities worldwide, said Karl Slym, president and managing director, GM India.
The major highlight of this New BS IV model will be the 2.0L 4-cylinder TCDI diesel engine.
Talks between Piaggio Vehicles, the Indian subsidiary of Piaggio & C.s.p.a of Italy, and General Motors for engine sourcing fell through.
Undeterred by global credit freeze, India maintains a bullish outlook on attracting foreign direct investment which may be governed by easier rules, a top government official said.
The sources said the talks are focused on sorting out certain issues relating to cost component, weapons package and technology sharing.
Business is growing fast and continues to draw investment, but making big bucks in a country smitten with small cars won't be easy.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
Led by the country's largest car maker Maruti Suzuki, Ford India, General Motors and Toyota Kirloskar logged overall growth in sales volumes.
General Motors (GM) India Limited plans to export Beat, its compact car to Europe and countries in the Asia Pacific region, from January 2011.
General Motors Corporation, the world's biggest automaker, has identified countries in the Asia-Pacific, including India, as one of its future growth markets.
Makers of cars and bikes posted missed results for August amid high inflation rate hike worries.
The proposal for listing public general insurers had come up in 2007.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
"We have so far invested $1 billion in India and there is no question of puting a cap on it", Karl Slym, president and managing director of India operations, told reporters in Bangalore after unveiling the SUV Chevrolet Captiva Automatic, a premium Sports Utility Vehicle and small car Spark Muzic Special Edition.
General Motors HAS appointed Arvind Saxena, former Managing Director of Volkswagen Passenger Cars India, as the President & Managing Director of its Indian unit.
'The plan is to secure nod of the Union Cabinet and other relevant regulatory approvals within the next three months,' a senior finance ministry official said, requesting anonymity.
The limited edition Aveo comes at a premium of Rs 54,000 over the existing base price of Rs 5.95 lakh. The new variant would be powered by a 1.4 litre petrol engine and has been introduced to commemorate GM Corp's centenary celebrations, GM India said in a statement.
According to the Auto Component Manufacturers Association, the apex body of component makers in India, global sourcing of components from the country will double from $2.95 billion to $5.9 billion in 2008-09, and is slated to hit $20 billion in seven years.
Hurdles such as approvals for repair and fixed rates can make the process time-consuming.
What worked for Hyundai in India when so many other auto manufacturers have had to eat humble pie? Pavan Lall finds out.
General Motors, the US auto major, plans to double the level of sourcing of automotive components from India to $1 billion (Rs 4,500 crore) annually in the next two years. For the year 2010, the company has placed $550 million worth of orders to its Indian vendors.
As other global car makers struggle in India to keep sales consistent, the Korean player has made a heady combination out of design, launches and localisation.
My candidate for the best general of the last century hailed from a little, poor colonised Asian nation whose impact on world affairs rarely amounted to much, notes Shankar Acharya.
What was being hailed as innovation in Indian industry not so long ago was nothing but cutting corners and skipping processes.
The move comes close on the heels of growth in developed auto markets such as the US and Europe dipping in the red. Analysts say that global auto companies are now focusing on developing new models for emerging markets like India, their with main focus on containing costs. The cost of development in India is considered to be the lowest in the world.
General Motors also plans to increase sourcing from India over the next 4-5 years to $1 billion annually.
The DG said that the previous government was wary of constructing roads near the Line of Actual Control.
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
Leading manufacturers, including Maruti Suzuki, Hyundai and General Motors, are planning to raise prices of each of their models starting from the last week of this month or early next month.
Seven auto companies lost share in the current year because of different reasons.
The dealers operating in the space have jumped nearly three times over the past two years.
General Motors has said that it will launch a second small car in India in the next two years as it looks at emerging markets to make up for sluggish sales in the US. A late entrant in the country's small car market, GM sells the Chevrolet Spark at around Rs 300,000.
Today, GMI has a brand new car factory, an existing one that runs on three shifts to produce 65,000 cars, two new small cars, a successful utility vehicle. . . looks like GMI is getting serious about India.
'Though one cannot paint the entire microcap basket with the same brush, investors need to be careful now as to what they're buying.'
