TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.
The rupee will be a key determinant for stock markets.
Within days of announcing that he would step down as the chairman of Bajaj Auto, Rahul Bajaj on Thursday said he expects the family feud with younger brother Shishir to be settled by June this year.
Top corporate managers on Thursday expressed confidence that the Congress-led coalition, in case it forms the government at the Centre, would give a fillip to economic reforms.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
Rahul Bajaj, Chairman, Bajaj Auto Ltd, has been conferred with the Alumni Achievement Award by the Harvard Business School from where he obtained his MBA degree in 1964.
Bajaj Auto Ltd is foraying into commercial four-wheelers segment by launching small trucks in the next three-year period. The company is also planning to set up an assembly line for two-wheelers in Indonesia in a joint venture with a local company.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
Bajaj Auto's race to grab the numero uno position in the premium bike segment is going to be tough as Yamaha Motor India is gearing up for launches in April 2007.
With rains once again lashing Mumbai, the Sensex opened weak and is now down 20 points at 7616. Nifty is down 8 points at 2304.
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Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
After ruling the Indian scooter scenario for a long period, Kinetic Motors is changing gears. It now wants to foray into the much-hyped and highly competitive motorcycles segment.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Budget expectations and the subsequent fall in purchases resulted in a 4.23 per cent drop in passenger car sales during February, 2005
The markets opened firm with tech, bank and pharma scrips making steady gains.
Passenger car sales saw a modest single digit growth in the domestic market in January 2005 at 8.17 per cent even as motorcycles continued their strong run, witnessing a 22.8 per cent jump fuelled by higher demand for Hero Honda and Bajaj Auto bikes.
Bajaj Auto Ltd would spend Rs 150 crore for new products and capacity expansion, enabling it to surpass the 10-12% two-wheeler industry sales growth expected this year and set up an assembly plant in Indonesia, a top company official said.
India Inc on Tuesday welcomed the Centre's move to scrap the controversial Press Note 18 and said that it was an "irritant" which has been removed.
The key driver of this expansion will be not car-hailing but bike-taxi service. The company is willing to partner local players that have a similar offer and would like to come on their platform.
Bajaj Auto's Rahul Bajaj, Sunil Mittal of Bharti and Oil and Natural Gas Corp's Subir Raha are among the 20 finalists announced by Ernst and Young for the E&Y Entreprenuer of the Year award.
The 50-share NSE Nifty after moving between 10,374.30 and 10,307.30 settled flat at 10,348.75, up 6.45 points, or 0.06 per cent.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
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