Japanese auto major announced top level management changes in its Indian arm with Sandeep Singh, Deputy Managing Director slated to move for a new role in its Asia Pacific operations.
A weaker rupee against the US dollar and the Japanese yen along with margin sustenance pressures have forced companies to raise prices.
Japanese drug major Daiichi Sankyo on Saturday deferred its proposed open offer to acquire an additional 20 per cent stake in Ranbaxy Laboratories, citing a delay in approvals from market regulator Securities & Exchange Board of India.
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
Increased demand for the American unit from importers and banks, affecting the value of the rupee
The four minority domestic investors of Sony Entertainment Television (SET) India, the Indian arm of the Japanese major, have taken the company to court over disagreements concerning demands on them for more capital.
The rupee is expected to become more jittery and choppy in the near-term
The rupee had ended almost flat at 61.41 against the Greenback in the previous session on Wednesday on alternate bouts of buying and selling.
The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Lacklustre domestic equities alongside ongoing FCNR redemptions added pressure on the local currency
Sukanya Verma lists the movies she grabbed at MAMI this year.
This is the highest closing level since May 11, 2016 when the rupee had finished at 66.56
The rupee snapped its two-day winning run against the dollar.
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
Daiichi-Sankyo's $5.3 billion acquisition of India's biggest drugmaker will help the Japanese company compete in the US markets with rivals such as Mylan and Israel-based Teva Pharmaceuticals and climb to become the world's 15th largest pharmaceutical company. Thus it is an important move on the part of an original drug research company to attach generic business portfolio," noted Ranjit Shahani, the vice-chairman and managing director of Novartis India.
Robust foreign capital inflows into upbeat domestic equity markets on the back of better macro fundamentals helped the rupee to gain
A new solution to raise deal speed is expected to avoid hiccups in trading when launched on August 1
The rupee recovered 14 paise to 66.40 against the dollar in early trade on Monday.
While 22 per cent of the promoters' stake in Ranbaxy was sold through an off-market transaction, the remaining came from a preferential share allotment. Daiichi Sankyo had earlier picked up more than 20 per cent of Ranbaxy's shares through an open offer. Ranbaxy Chairman and Managing Director Malvinder Mohan Singh said the remaining 12-13 per cent promoter shareholding will change hands in the coming weeks, thereby taking Daiichi's share in Ranbaxy to over 60 per cent.
Dealers attributed the rupee's fall to fresh demand for the US currency from importers
The new deal will value Flipkart at close to $19 billion on the secondary market, a huge jump from Walmart's initial offer to investors.
Foreign fund inflows and a higher opening in the domestic equity market supported the domestic unit
High-end mid-sized sedans, comfy SUVs and entry-level luxury models steal their show.
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
This is its lowest level since August 30
Investors are keenly awaiting the announcement of the macroeconomic data-IIP and CPI due on Tuesday.
Nissan Motor Company, the Japanese automobile giant, has entered the Indian market with its first offering, the Nissan X-Trail. The SUV has been priced between Rs 19.80 lakh.
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
Month-end dollar demand affected the rupee
Japanese car maker Mitsubishi Motors Corporation has decided to manufacture its sports utility vehicle Outlander in India, through its Indian joint venture with Hindustan Motors, a C K Birla Group company. The Indian JV currently manufactures the Lancer range of sedans, sells Montero, a premium segment sedan, and imports completely built SUV Pajero. The company had earlier considered the option of importing Outlander as a fully-built unit for the Indian market.
The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year. The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year.
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
Eighty-eight per cent of Indian consumers are prepared to pay more for goods that are environment friendly against 82 per cent in China and 68 per cent in Japan, according to a study of consumers in India, China and Japan. Findings are part of a 10-market global study by international communication firm Edelman.
The rupee ended almost flat against the dollar.
The rupee on Monday plunged to a two-week low of 66.61 by falling 47 paise against the US dollar on heavy demand for the American currency from importers.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
In the next 2-3 years the company will pump in Rs 4,000 cr in product development, R&D and marketing infrastructure.
Japanese two-wheeler firm Yamaha today said it will introduce a new version of its super-bike YZF-R1 in the country next year, and a range of other models and variants from its stable to strengthen its position in India.
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