Paisawaisa - Press Release and News Highlights

Early morning flying start for Sensex, Nifty

Wed, 17 Mar 2010 09:19:20 UTC

Unlike Monday morning, Indian indices opened on a positive note and is looking very much on the right track for the day.

The Sensex is trading at 17485, up by 102 points. On the other hand, the Nifty is up by 30 points, trading at 5228. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 0.8 percent and 0.5 percent, respectively.

Earlier, US markets ended the day on a higher note.

Indian indices trading on a strong note on Tuesday afternoon

Tue, 16 Mar 2010 02:27:53 UTC

On Tuesday afternoon, Indian indices were trading on a strong note when reports last came.

The Sensex is trading at 17291, up by 126 points. On the other hand, the Nifty is up by 38 points, trading at 5167. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 0.53 percent and 1.08 percent, respectively.

Indian indices update!!

Tue, 16 Mar 2010 09:36:12 UTC

Indian ADRs close mixed on Monday

Monday turned out to be a bag of mixed emotions for Indian ADRs space. Except the IT pack, rest others ended in red.

In the Banking space, the HDFC Bank (-0.91%) and the ICICI Bank (-2.15%), both closed down.

In the Telecom space, Tata Communication (-0.56%) and MTNL (-0.31%), also closed down.

In the IT space, Infosys (0.66%), Satyam Computers (0.19%), Wipro (1.57%) and Patni Computers (0.92%), all gained.

Last but not the least, speaking of other sectors, Sterlite Industries (-0.61%) and Tata Motors (0.11%) ended the day in red. Meanwhile, Dr. Reddy's Labs (2.02%) closed up.

Asian markets update!!

Tue, 16 Mar 2010 09:22:32 UTC

Asian markets trading with modest gains

When the reports last came, most of the Asian markets had bounced back after going through an initial low phase.

The Nikkei 225 Average was up by 24 points, trading at 2670.

The Straits Times was trading up by 8 points, at 2882.

The Shanghai Composite was trading up by 7 points, at 2984.

Last but not the least, the Hang Seng was up by 57 points, trading at 21136.

Quiet start for Indian indices on Tuesday morning

Tue, 16 Mar 2010 09:16:19 UTC

It was another quiet start to the day for Indian indices. Tuesday morning saw market trading on a slightly positive note due to similar global cues.

The Sensex is trading at 17191, up by 26 points. On the other hand, the Nifty is up by 11 points, trading at 5140. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 0.3 percent and 0.4 percent, respectively.

Meanwhile, the US markets finished the day with meagre gains.

Knight Riders beat Royal Challengers Bangalore

Mon, 15 Mar 2010 06:27:33 UTC

Shahrukh Khan owned Kolkata Knight Riders has showcased an all-rounder performance to score a convincing seven-wicket victory over Bangalore Royal Challengers in the Indian Premier League at the Eden Gardens.

After restricting Royal Challengers to 135 for seven, Knight Riders reached the target with four balls to spare, with openers Manoj Tiwari (50) and Brad Hodge (50) sharing a 101-run stand. It has been a promising start for the Knight Riders, who finished at the bottom of the table last year. They have now beaten defending Champions Deccan Chargers and runners-up Royal Challengers in successive matches.

In their first match against Deccan Chargers in Mumbai, Knight Riders had to fight back to win a close encounter. But in front of the huge local support, Knight Riders were clinical in their performance in last match. Knight Riders captain Sourav Ganguly's decision to put the opposition to bat was backed by the bowlers as they never allowed a partnership to flourish.

Sri Lankan Angelo Mathews took four wickets, giving away just 19 runs while left-arm spinner Murali Kartik took two for 22. Jacques Kallis, opening the batting for Royal Challengers, made an unbeaten 65 off 52 balls with even fours and a six. But with no support from the other end, they were quickly reduced to 35 for four. Rahul Dravid (21) and Robin Uthappa (20) gave Kallis company for some time but both gave their wickets to Mathews.

Knight Riders made a good start to the chase with Hodge and Tiwary taking it away from the Royal Challengers. The two combined to score 101 off 11.4 overs before Ganguly struck a 22-ball 23. Tiwary took the attack to the opposition, hitting six fours and two sixes. Hodge played the role of a second fiddle, taking 45 balls for his half century that came with seven fours. Though the match was stretched till the last over, the Knight Riders were in no real danger and comfortably crossed the victory line.

TCS signs 5-year deal with Malaysia Airlines

Mon, 15 Mar 2010 05:38:23 UTC

NEW DELHI: The country's largest software exporter Tata Consultancy Services (TCS) today inked a five-year deal with Malaysia Airlines (MA) for
an undisclosed amount.

Bentley introduces new model Mulsanne at priced Rs.2.9 crore

Mon, 15 Mar 2010 05:34:37 UTC

UK based Carmaker Bentley has launched its grand tourer Mulsanne in India. Company is also planning to launch two more models in the country. The Mulsanne is priced at a whopping Rs.2.9 crore.

According to Chris Buxton, Regional Director ( the Middle East, Africa and India) Bentley, global production of the car will begin in the year and It hopes to deliver Mulsanne to Indian customers by October or November. The super luxury car maker will produce 600 units annually for the global demand, although it is not decided how many will be assigned for India.

Generally, super-luxury handcrafted car makers assign a specific numbers of cars to each region due to limited capacity. Mulsanne will be available in 625 colours and trims and can be personalized as per customer choice. Each car takes 660 hours to be built compared with 5-6 hours for a normal car.

The luxury car maker is powered by 6.8 litre twin-turbo V8 engine. It includes features like iPod, MP3 connectivity, Bluetooth and a SIM card reader. Besides, Mulsanne, the company also plans to introduce the GTC Supersport, which was launched at the Geneva Auto Expo recently. Talking about the growth of the super luxury segment, Mr. Buxton told that in 2008-09, the segment saw a downturn but they expect it to show growth this year. On an average, company sell about 25-50 cars depending on the economic climate but volumes increasing in India.

Chris Buxton added that company has debuted this year in the Indian market for Bentley car connoisseurs. India has a very strong and vibrant economy. They are very hopeful about the future prospects of its business here. Mulsanne is a super luxury car which is customized according to the user's needs. The car has a 6.8-litre twin turbo V8 engine, which can produce 512bhp with 1,200 Nm torque.

According to Buxton, it takes almost 650 hours to make a Bentley super-luxury car and it is “truly handmade”. Bentley has already unveiled this model in the global market. He mentioned that US is its biggest market and have already unveiled its new model there and in Europe. After here, it will unveil it in few more Asian countries, including China. Buxton added that Bentley had sold around 5000 cars globally last year.

He told that its sales in India is between 25 and 30 cars only. But there is a huge potential and they expect its sales to go-up. The China market is almost 10 times bigger for Bentley than India.

Indian indices close Monday on a flat note

Mon, 15 Mar 2010 05:03:40 UTC

Negative global cues played a spoilsport, causing market to end the day on a flat note.

The Sensex ended the day at 17165, down by 1 points. On the other hand, the Nifty closed the down by 8 points, trading at 5129. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap finished the day down by 0.43 percent and 0.83 percent, respectively.

Indian indices walking on tight rope

Mon, 15 Mar 2010 02:40:03 UTC

Indian indices are trading on a flat note when reports last came. The Sensex is trading at 17190, up by 23 points. On the other hand, the Nifty is down by meagre 1 point, trading at 5135. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were down by 0.54 percent and 0.59 percent, respectively.

Dream on cricket bed Linens from Kurl-on Ltd

Mon, 15 Mar 2010 10:46:55 UTC

Revamp your bedroom with the new range of cricket bed linens

Mumbai, 15th March, 2010: The most popular sport in India is undoubtedly cricket; call it religion, love or life. The Gentleman's game is a binding factor and a passion amongst Indians. To commemorate this fervour, Kurl-on brings cricket enthusiasts its new range of bed linens that compliments the cricket mania in India.

The new Kurl-on collection exhibits the essence of cricket and is characterised by very unique and distinctive designs adding the sporty look to the collection. The designs comprise of cricket accessories like bats, balls, stumps, gloves etc. The collection will be available at all Kurl-on outlets.

The ‘Cricket Series’ bed linens will be available with all Kurl-on dealers and at exclusive outlets in six different colours and designs at Rs. 1450 for a double bed sheet. During this IPL season, Kurl-on offers its customers two pillow covers and two cushion covers in the same pack without any extra charges.

Speaking at the launch Mr. G. Sivaram, Director (Marketing & Sales) Kurlon Ltd, said, “Indian Cricket is at an all time high with the IPL Season 3 coming back into the country. We saw this as an opportunity and introduced the Cricket series which brings together a blend of the world’s finest material combined with the culture and ethos of the cricket aficionado. I am sure that cricket fans in India would love the unique collection from Kurl-on. We will continue to bring fresh, new concepts and designs for our customers making their homes look more beautiful".

Kurl-on has been at the forefront of experimentation by offering new products to its consumers each time. They have a tried and tested track record of creating new market segments (kids, lifestyle, healthcare, teens etc) in various product categories in the Home furnishing segment, living up to their innovative and pioneering image.

Every little boy to a grand pa in India eats, breaths and speaks cricket. Even the female audience are great followers of the game. So, why not sleep on Cricket linens? Kurl-on’s latest range of bed sheets for Cricket lovers allows you to embrace cricket while you are asleep. You can drape your bed with cool and funky prints of cricketing symbols.

Tatas may invest Rs 13,000 cr on wind, solar power by 2017

Mon, 15 Mar 2010 10:09:09 UTC

NEW DELHI: Aiming to produce 25 per cent power from green sources by 2017, Tata Power plans to increase its wind and solar energy generation
capacity to 2,000 MW and 250 MW respectively, which could entail an investment of over Rs 13,000 crore.

Asian markets update!!

Mon, 15 Mar 2010 09:31:29 UTC

Asian markets trading on a low note

When reports last came, most of the Asian markets were trading on low note.

The Hang Seng was down by 139 points, at 21071.

The Shanghai Composite was trading at 2992, down by 20 points.

The Straits Times was trading at 2883, down by meagre 2 points.

Last but not the least, the Nikkei 225 was trading at 10733, down by 18 points.

Indian indices off to a quiet start on Monday morning

Mon, 15 Mar 2010 09:25:28 UTC

It was a quiet start to day's (and week's) trade proceedings on Monday morning. The Sensex is trading at 17122, down by 44 points. On the other hand, the Nifty is down by 16 points, trading at 5121. Speaking of the second-rung stock segment, the CNX Midcap was down by 0.3 percent while the BSE Smallcap was up by 0.1 percent.

Earlier, US markets closed flat on Friday.

Nissan rolls out first Thai-promoted “eco-car”

Fri, 12 Mar 2010 05:14:17 UTC

Nissan rolls out its much-awaited, low cost compact car. With an aim to become a major force in the fast-growing segment with a global sales target of 1 million units a year by 2013. Nissan executives told that the company would produce 90,000 hatchback car, at its suburban Bangkok plant in the year starting April 1, of which 70,000 would be for export.

The 1,200-cc engine compact, called March in Thailand, China and Japan, and Micra in India, Europe and other markets, is being sold in a price range of 3,75,000-5,37,000 baht ($11,500-$16,500) about 20 percent cheaper than similar cars from rivals.

Chief Operating Officer Toshiyuki Shiga told that at the global launch that the compact would be sold in more than 160 countries, with Thailand one of four main manufacturing and export hubs along with China, India and Mexico. He expected production in China to begin in the second half of this year, but declined to provide other details, including its pricing in key Asian markets. Shiga didn't told that when his firm would introduce the vehicle in India, where Nissan is looking to take on market leaders Maruti Suzuki India and Hyundai Motor Co.

Production of the March model would nearly double Nissan's Thai car output to 2,00,000 units a year. According to the Chief Executive Carlo Ghosn, the Micra/March is the Japanese car maker's most important model in years, the culmination of extensive experimenting with new materials and component designs for production in low-cost countries.
Nissan is the first of six global car makers to obtain generous Thai government incentives to produce small vehicles under the country's “eco-car projects”. Other companies licensed to compete with Nissan in the same segment are Toyata Motor, Honda Motor, Suzuki Motor and India's Tata Motors.

As per the state-run board of Investment, eco-cars must meet safety, low fuel consumption and “EURO 4” emission standards. The BOI offers these companies corporate tax exemption for at least five years on the terms that their production reaches 100,000 a year within the first five years of operation. It mentioned that the licensed car manufacturers would enjoy cuts of up to 90 percent in import tariffs for foreign car parts and material used for producing the vehicles. The parts entitled to low tariffs must not yet be produced by local producers.

Honda introduces new Accord variant

Fri, 12 Mar 2010 02:32:52 UTC

Leading car maker Hondsa Siel launched its latest version of flagship sedan Accord 3.5L V6 that comes with an electric sunroof and additional luxury features such as ambient light, footlight and two sets of keyless entry for added convenience to customers. The new Accord is priced at Rs.26.15-lakh, while the base model is available at Rs.18.52 lakh. In addition, Honda Accord 3.5 litre V6 and Honda Accord 2.4L now have a provision for mobile phone with Bluetooth interface.

Accord's V6 3.5 litre i-VTEC engine with 275 PS makes it the most powerful Accord ever built and provides driving performance on a par with luxury vehicles from higher segments. The V6 3.5 litre i-VTEC engine features an advanced variable cylinder management (VCM) system for better efficiency and power.

Indian indices trading on a flat note

Fri, 12 Mar 2010 02:29:22 UTC

Indian market is presently, trading on a flat note. The Sensex is trading at 17141, down by 27 points. On the other hand, the Nifty is down by meagre 3 points, trading at 5130. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were down by 0.28 percent and 0.18 percent, respectively.

Maruti Suzuki to supply 35,000 units of A-Star to Nissan in 2010-11

Fri, 12 Mar 2010 02:08:28 UTC

NEW DELHI: The country's largest carmaker, Maruti Suzuki India, today said that Japanese auto giant Nissan has placed orders for 35,000 units of
its small car A- Star for 2010-11 to sell in the European market.

Sun Pharma unit Caraco launches anti-cancer drug in US

Fri, 12 Mar 2010 02:06:16 UTC

MUMBAI: Caraco Pharmaceutical Laboratories Ltd, a unit of Sun Pharmaceutical Industries Ltd, said late on Thursday it has launched the generic version of anti-cancer drug oxaliplatin in injection form in the US.

'Infosys may have seen 4,000 staff exits in February'

Fri, 12 Mar 2010 02:04:26 UTC

Brokerage firm CLSA said over 4,000 employees may have resigned from Infosys in February alone, largely driven by an uptick in business
environment that has created a huge demand for talent, after a lull. The normal attrition numbers in India’s second-largest software exporter is around 1,200 employees a month.

Toyata to hire 1,200 employees in FY 2010

Thu, 11 Mar 2010 06:05:13 UTC

Toyata Motor Corp plans to recruit 1,200 people for the 2010 business year starting in April, but will not hire clerical staff due to uncertain economic conditions. The figure represents a drop of more than 12 percent from fiscal 2009, when Toyata recruited 1,376 people including clerical staff.

The planned recruitment is comparable with the level seen in fiscal 1994 after the collapse of the bubble economy, although conditions differ slightly each year depending on recruitment of mid-career employees.

The Japanese auto giant is expecting to return to profit in the current financial year ending in March after logging a huge loss in the previous year, but it plans to stem personnel costs in the face of declining sales amid massive global recalls of its vehicles.

The conservative recruitment plan of one of Japan's largest manufacturers could impact other companies and exacerbate the already adverse conditions in the domestic job market. In fiscal 2009, Toyata recruited 143 clerical peronnel, mainly graduates of two-year universities and professional school courses. For the next fiscal year, it is planning to hire a total of 460 administrative and engineering staff, falling below the 516 people recruited in fiscal 2009. It will recruit 240 people to enroll at a Toyata training academy for technical skills, topping the 213 people enrolled in fiscal 2009.

Sony introduces new motion-controlled gaming system

Thu, 11 Mar 2010 02:44:02 UTC

Sony Corp has introduced its new motion-controlled video game system, pitching it to both casual and hard-core gamers alike, as the company looks to ride one of the hottest trends in gaming. The new system will help Sony keep pace with rivals Nintendo Co. Ltd, which pioneered gesture-based gaming, and Microsoft Corp, which is launching its system later this year. Sony's new PlayStation “Move” controller is used with its Eye gaming webcam, translating users' motions into actions within games on the Playstation 3 console.

Move, which resembles a TV remote with a colorful ball stuck on the end, will be available as part of a package this fall for less than $100. Nintendo's Wii-Kicked off the the craze for motion-controlled gaming, making the console and active games such as “Wi-Fit” and “Wii Sports Resort” into huge hits with casual gamers.

Microsoft has already unveiled the Natal body-gesturing gaming system for its Xbox 360 console, which the company plans to have in stores for the holidays. As per the company, Move is especially precise, with every twitch and punch registering accurately in games ranging from casual titles for kids to fighting and swashbuckling swordplay games.

Although the company hopes to lure in casual gamers who have favored the Wii. The sheer accuracy of its motion-based gaming means it will also appeal to more hard-core gamers, generally younger men, who are the backbone of the $50 billion gaming industry.

Indian indices in red zone

Thu, 11 Mar 2010 02:23:16 UTC

Indian indices are still trading flat when reports last came. The Sensex is trading at 17122, up by 24 points. On the other hand, the Nifty is up by 9 points, trading at 5124. Speaking of the second-rung stock segment, the CNX Midcap was down by 0.45 percent while the BSE Smallcap was up by 0.02 percent.

Ford plans to introduce more global products in India

Thu, 11 Mar 2010 12:34:03 UTC

US automaker Ford is planning to launch more global products in the Indian market. Ford India's Managing Director and President Michael Boneham told that the company is planning to bring more global products into the Indian market. They will look at options for Indian customers needs out of its global stable.
Boneham added that they are planning to launch a new car every 12-18 months, which would include small and medium-sized cars in India.

Ford being a marginal player in India for well over a decade, US car major Ford has made a serious pitch for a larger share by launching Ford Figo, its first true B-segment hatch in India. Aggressively priced, the new entry-level Figo Duratec LXI, equipped with a 1.2 litre petrol engine, will be priced at Rs.3.66 lakh. Pricing of the EXI model will start at Rs.4-lakh for petrol and Rs.4.95-lakh for diesel variants.

Ford Asia's Pacific and Africa's President, Joe Hinrichs told that from the beginning, Company wants to offer all the features of a B-segment car at a sub-B price. It got succeeded in form of Figo. Hinrichs added that Figo is completely made in India. The fact that they have been able to price the car so competitively is because they have 85 percent localization on the product, so they have been able to cut costs drastically. Figo is an important product for the company as it was its first entry into the B-segment category and its success would pave the way for other products lined up for the Indian market.

The company now plans to export a significant number of the Figo to Asia-Pacific and African countries in 2010. The all-new Ford Figo, a modified hatchback version of its sedan Fiesta will also be exported to South Africa. The company has drawn up aggressive plans to grow its sales network in the country. Its dealership network of 167 outlets in 97 cities will be increased to 200 outlets by the year-end. Ford will manufacture the car at its Chennai plant, where it will also make engines for the model. The company has made an investment of $500-million in the Chennai unit which manufactures other Ford models for India too and has a total production capacity of 2,00,000 units a year and an annual engine manufacturing capacity of 2,50,000 units.

High UK exposure may pose risk for TCS

Thu, 11 Mar 2010 10:06:39 UTC

MUMBAI/BANGALORE: With the UK government's contracts worth over $1 billion in the pipeline, Tata Consultancy Services (TCS) is exposed to
substantial risks of project delays and anti-offshoring sentiments, according to local experts and rivals. Such projects also bring along single-digit margins and could impact profitability, unless there is significant work delivered from offshore.

Indian ADRs update!!

Thu, 11 Mar 2010 09:55:59 UTC

Indian ADRs close on a high note

Overall, Indian ADRs ended the day of Wednesday on a high note.

In the banking space, both, the HDFC Bank (4.62%) and the ICICI Bank (0.15%) ended up.

In the IT space, both, the Infosys and the Satyam Computers surged up by 0.55 percent, respectively. On the other hand, both, the Wipro (-0.17%) and Patni Computers (-1.11%) closed down.

In the telecom space, MTNL (3.1%) shot up while Tata Communication stayed unchanged at $12.85.

In other sectors, Tata Motors (0.7%), Sterlite Industries (0.46%) and Dr. Reddy's Labs (0.54%), all ended up.

Asian markets alert!!

Thu, 11 Mar 2010 09:47:29 UTC

Asian markets trading on a firm note

When reports last arrived, Asian markets were trading on a firm note.

The Hang Seng was trading up by 84 points, at 21293.

The Straits Times was up by 3 points, trading at 2865.

The Nikkei was up by 88 points, trading at 10652.

Last but not the least, the Shanghai Composite was up by 19 points, trading at 3068.

Once again a flat start to the day for Indian indices

Thu, 11 Mar 2010 09:36:59 UTC

Once again, it was a disappointing start to day's trade proceedings. The market started the day on a flat note. The Sensex is trading at 17073, down by 25 points. On the other hand, the Nifty is down by 11 points, trading at 5105. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 0.1 percent and 0.2 percent, respectively.

Meanwhile, US markets finished the day on a flat note.

Rcom introduces application for social networking sites

Tue, 09 Mar 2010 05:43:39 UTC

Telecom major Reliance Communications (Rcom) launched a new service VAS application “Socially”, which will allow users to follow social network sites like Facebook, Twitter and Linkedin.
Available through Rworld, the new application is designed to enable users follow their friends and update personal status on these networking sites through a single application.

The 3G-ready application also shows up-to-date social information of the caller during an incoming call and collates significant events across social networks and push them as alerts on select smartphones Rcom Head (VAS) Krishna Durbha told that with this service, Rcom has made the phone address book far more powerful and linked it to social networking sites like Facebook, Twitter and Linkedin. In future, the use will also be extended to voice calls.

The application brings a host of other features such as alerts of friends' activities on the idle phone screen. Antarix Networks Founder Nagesh Rao told that they are delighted to partner with Rcom to launch this 3G social service. Its vision for 'Socially' is to provide a social operating system layer on top of mobile phones, embedding social info into the address book, calls, idle screen.

Sensex, Nifty treading in red zone

Tue, 09 Mar 2010 02:26:29 UTC

After a weak start to the day, Indian indices have failed to make a comeback of any sort thanks to weak global cues that have been playing a spoilsport. Meanwhile, European markets have opened on a flat note.

The Sensex is trading at 17088, down by 14 points. On the other hand, the Nifty is down by 17 points, trading at 5107. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were down by 0.16 percent and 0.17 percent, respectively.

Ford rolls out Figo

Tue, 09 Mar 2010 02:23:17 UTC

US based car maker Ford rolls out its much anticipated global small car 'Figo' in the Indian market. The automaker company tagged its price in the range of Rs.3.5 lakh to Rs.4.48 lakh. The company told that it will be exporting the car from India to various markets across the globe, with South Africa being the initial target.

According to the Ford India Executive Director (Marketing, sales and Service) Nigel Wark, for years, they have seen as offering only premium priced products in India, and that has kept them as a small player operating in onl y 20 percent of the market. With Figo, customers will see a premium product offered to the mainstream market at an affordable price.

The car would be available with a 1.2 litre petrol and a 1.4 litre diesel engines. While the entry-level version of the petrol variant will come at Rs.3.5 lakh. The diesel one is priced at Rs.4.48 lakh. The company claimed that the car would give a mileage of 15.6 kilometre and 20 kilometre in every litre in the petrol and diesel versions, respectively. The company is also looking at making India an export hub for the small car.
Ford India Managing Director Michael Boneham told that they are preparing for export and South Africa will be the first maker where Figo will go out of India. They will be adding more markets to Figo's list later. The Figo would be produced at Ford India's Chennai plant which has an annual capacity of two lakh units.

The Figo would be produced at Ford India's Chennai Plant which has an annual capacity of two lakh units. The automobile company told that other variants of the petrol engine are slated to be produced at the plant for eventual use in the global markets. Ford Motor Company President and CEO Alan Mulally told that the company started work on the small car in 2007 and the global unveiling of the Figo was done in September last year during the India visit of Ford Motor. Mulally added that they will become a significant player in the compact car segment with this car. He had further added that its plan for India involves accelerating development of fuel efficient small cars. The small car market in India will double in the next one decade.

Currently, small cars account for over 72 per cent of the 1.22 million units sold in India.

Daimler plans to sell Tata Motors stake

Tue, 09 Mar 2010 01:40:16 UTC

German auto major Daimler, which has 5-34% stake in Indian automobile giant Tata Motors, is soon expected to sell its entire stake which consists of nearly 2.56 crore shares. At the current market price, Daimler's stake is valued at about Rs.2,050 crore (nearly $450 million).

However, institutional broking course told that Daimler is planning to sell the shares at some discount to the current market price. Market sources pegged the price discount between 4-7% I.e. in a range of Rs.737 and Rs.761 per share. At the upper end of the price band, the total deal could be worth nearly Rs.1,950 crore (about $427 million). Citigroup was handling the issue. A Daimler official declined to comment on t he reported share sale and a Tata Motors spokeswoman did not offer any comment.

As per institutional dealers, in several such recent deals, this would also take the block deal route on the bourses. This is because deals done through the bourses qualify for capital gains tax while off-market deals lead to substantial tax outgo for the seller. Over the last few months, among the notable block deals, huge chunks of Reliance Industries stocks, from its treasury, were sold through the block deal route. A substantial chunk of DLF's promoters holding were also offloaded through block deals. In both instances, all buyers were institutional investors.

As of December 2009, Damler held 5-34% of Tata Motors ordinary shares, making it the third largest shareholder in the company. The promoters now hold nearly 25% while Life Insurance Corporation has 11.2% in the company. Over the last six trading sessions, I.e. since the budget proposals were announced, the Tata Motors stock has risen 19%. While budget proposals relating to the automobile sector were according to investor expectations, the same day the company had also announced its consolidated financial numbers which showed substantial improvements in its Jaguar and Land Rover Unit.

India-South Africa finish 3-3 in World Cup tie

Tue, 09 Mar 2010 10:22:24 UTC

NEW DELHI: India and South Africa finished 3-3 in the last Pool B match of the Hockey World Cup here
Monday.

Cell communication towers must be quake-proof: DoT

Tue, 09 Mar 2010 10:20:41 UTC

MUMBAI: In a bid to ensure that essential services like telecommunication do not break down during natural calamities, the Department of
Telecommunication (DoT) has brought out a draft policy on mobile towers and has asked cellular service providers to adhere to certain norms while constructing new towers. Saying that the towers would have to be earthquake resistant, DoT has specified that the design, fabrication and use of material should conform to the standards set by Bureau of Indian Standards (BIS).

Honda launches select Jazz edition priced at Rs 7.21 lakh

Tue, 09 Mar 2010 10:07:49 UTC

NEW DELHI: Car maker Honda Siel Cars India on Monday launched a select edition of its small car Jazz priced at Rs 7.21 lakh (ex-showroom,
Delhi).

Indian ADRs update!!

Tue, 09 Mar 2010 09:38:50 UTC

Monday turns out to be a mixed bag for Indian ADRs

Indian ADRs ended mixed on Monday.

In the telecom space, Tata Communication (-0.54%) and MTNL (-0.31%), ended down.

In the banking space, both, the ICICI Bank (-0.51%) and the HDFC Bank (-0.17%) closed in red.

In the IT space, Satyam Computers (0.35%), Wipro (1.11%), Patni Computers (3.18%) and Infosys (0.52%), all ended on a positive note.

In other sectors news, Sterlite Industries (-0.11%) and Tata Motors (-3.02%), closed down while Dr. Reddy's Labs (0.82%) ended up.

Asian markets update!!

Tue, 09 Mar 2010 09:32:08 UTC

Asian markets trading on a weak note

When reports last arrived, Asian markets were trading on a weak note.

The Hang Seng was trading down by 43 points, at 21154.

The Straits Times was trading on a flat note at 2837.

The Nikkei dropped down by 42 points, trading at 10544.

Last but not the least, the Shanghai Composite was trading down by 19 points, at 3034.

Indian indices off to a flat start

Tue, 09 Mar 2010 09:26:21 UTC

Indian indices started the day on a flat note on Tuesday morning. The Sensex is trading at 17116, up by 13 points. On the other hand, the Nifty is trading down by 7 points, at 5117. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were trading up by 0.02 percent and 0.1 percent, respectively.

In other news, US markets finished the day on a flat note.

“The Hurt Locker “ shines at 82nd Academy awards

Mon, 08 Mar 2010 01:46:11 UTC

This Women's day is more special for the Katherine Bigelow who bags first woman to win best director trophy at the 82nd Academy awards for her film “ The Hurt Locker”. Her movie was nominated in 9 categories and took home 6 awards including best picture and best film editing. Avatar couldn't able to bing its box office charm into the Kodak Theater and took home three awards including best visual effects and best Art direction. The battle between Katherine Bigelow and her ex-husband James Cameron came to an end, as Katherine Bigelow outsmart James Cameron in the best director category. Here is the list of Oscar award winners in different categories:-

Best Director: Katherine Bigelow for her film "The Hurt Locker".

Best Actress: Sandra Bullock won her first Academy award for her role of a feisty foster mother, who changes the life of a troubled African-American teenager in 'The Blind Side', based on a true story.

Best Actor: Jeff Bridge for "Crazy Heart".

Best Foreign Language Film: “The Secret in their eyes” (Argentinean film) bagged Oscar for the best foreign language film.

Best Film Editing: "The Hurt Locker" also bagged award for film editing.

Best Documentary Feature: "The Cove", a movie about the systematic slaughter of dolphins in Japan bagged the award in this category.

Best visual Effects: Oscar for best visual effects went to “Avatar”.

Best original Score: Oscar went to Michael Giacchino for "Up" in this category.

Best Cinematography: Mauro Fiore is the winner of best cinematography' for “Avatar” .

Best Sound Mixing: Ray Beckett and Ottosson bagged the golden statuette for “The Hurt Locker”

Best Sound Editing: "The Hurt Locker" won award for the best editing.

Best Costume Design: Oscar for Best Costume Design went to Sandy Powell for "The Young Victoria". This is her third Oscar earlier ones were for 'Aviator' and 'Shakespeare in Love'.

Best Art Direction: Oscar for best art direction went to "Avatar".

Best Supporting actress: Mo’Nique won the best supporting actress Oscar for the role in "Precious".

Best Adapted Screenplay : "Precious" bagged the Oscar for best adapted screenplay. Precious is based on the novel "Push" by Sapphire.

Best Makeup: Oscar for Best Makeup went to "Star Trek".

Best Short Film: Joachim Back and Tivi Magnusson bagged the Oscar for 'The New Tenants' (Live Action)

Best short Documentary Film: Award in this category went to "Music by Prudence".

Best Animated Short Film: Oscar went to “Logorama” in this category.

Best Original Screenplay: Mark Boal for "The Hurt Locker”.

Best Original Song: Oscar went to to Ryan Bingham and T Bone Burnett for "The Weary Kind" (Theme from Crazy Heart).

Aditya Birla Retail aims to become $ 2.5-bn entity by 2017-18

Mon, 08 Mar 2010 10:13:34 UTC

MUMBAI: Aditya Birla Retail Limited (ABRL), the retail arm of the Aditya Birla Group, aims to be an USD 2.5-billion entity by 2017-18, a top
company official said.

Infosys, Genpact, PepsiCo, ICICI to start paying bonuses

Mon, 08 Mar 2010 10:00:13 UTC

NEW DELHI: A passel of companies in sectors as diverse as IT and banking & financial services are bracing to give bonuses as they look to retain and woo key talent, buoyed by the prospect of promising days ahead.

Suzuki raises Maruti stake, fuels talks of full control

Mon, 08 Mar 2010 09:57:59 UTC

NEW DELHI: Suzuki Motor Corp has raised its stake in Maruti Suzuki to 55%, triggering speculation about the Japanese firm’s intentions for its
Indian subsidiary and whether the move is part of a larger plan to take full control of the country’s top carmaker.

Sensex, Nifty in a tight spot on Thursday post-afternoon session

Thu, 04 Mar 2010 02:21:25 UTC

Thanks to weak opening of European markets, Indian indices too has been trading in red for a while now. Although, both of them made a marginal recovery in recent hours but that has gone unnoticed.

The Sensex is trading at 16979, down by 21 points. On the other hand, the Nifty is down by 9 points, trading at 5079. Speaking of the second-rung stock segment, both, the CNX Midcap and the BSE Smallcap were up by 0.42 percent and 0.48 percent, respectively.

Plasma Screens get a tech savvy addition of 85” from Panasonic

Thu, 04 Mar 2010 10:55:34 UTC

New Delhi, Feb, 2010: Adding on a new variant to the camp of Large Plasma screens, Panasonic has launched an exceptional 85” FHD plasma display, in the capital today, that’s brilliantly packaged with a modern day and unconventional technology, well structured in a beautiful cosmetic casing.

The new Panasonic 85” FHD Plasma display panel is embedded with the Neo PDP technology, which is potent of achieving the electroluminescent efficiency that has never been promised before, by the earlier models. The 99 mm thin, plasma panel is a modern creation that integrates the best mix of the leading age technology, empowering the moving picture performance, while packaging it in the interests of the energy savers, to offer an unparalleled reel view experience. What further adds on to the engineered beauty of this product is its lowdown of utility features, which can be accredited to the innovative efforts of its R&D team.

This plasma variant has the ability to be upgraded at any given point of time and comes with Triple function slots, which allow terminal boards to be swapped according to the video source, while catering to the distinguished needs of the consumers, spanned across the different roles and genres. In addition, a customer can also connect his laptop with it, upon the insertion of a wireless presentation board and can further use the displays as a touch panel after an infrared panel attachment. Also with features like portrait zoom, external control inputs like RS 232 and Lan Port and flexible set up of the display panel, not only create exceptional window displays but also optimize the content display.
The high visibility of this ultra-large screen, equivalent to four 42 inch screens, makes it ideal for public facilites for eye-catching large digital Signage use.

At the launch, Mr. Vineet Mahajan , Head –Sales( Professional Display) at Panasonic said : “The new 85 inch plasma display panel is embedded with a superb and advanced Neo PDP technology that’s capable of transporting the viewers from real to the full of action reel life and with its launch today, we definitely expect it to drive us a definite majority of revenue.The New 85 inch Plasma Display will also be a major boon for professional System/ audio video Integrators for professional applications like Video conferencing, Digital Signage, Video wall and Customised Home theatre Etc.”

The Panasonic’s FHD Plasma Display TH – 85PF12 comes with a service life of 1,00,000 hours and is priced at an equally astonishing price of Rs.20 lakhs. Recalling Panasonic’s last year’s launch of world’s largest Plasma display of 103 inch, we wish the brand the same success to encore.

Indian ADRs update!!

Thu, 04 Mar 2010 09:38:54 UTC

Indian ADRs close mixed on Wednesday

Overall, it was a mixed end to day's trade proceedings on Wednesday.

In the telecom space, Tata Communication (-0.32%) ended down while MTNL (1.58%) closed up.

In the banking space, HDFC Bank (-0.3%) finished the day on a low note while the ICICI Bank (1.93%) closed up.

In the IT space, Wipro (-1.14%), Infosys (-0.07%) closed down while Satyam Computers (0.18%) ended up.

In other sectors, Tata Motors (0.8%), Dr Reddy's Labs (0.31%) and Sterlite Industries (2.22%) all ended up.

Asian markets alert!!

Thu, 04 Mar 2010 09:24:51 UTC

Asian markets trading on a flat note

When reports last came, Asian indices were trading on a flat note.

The Nikkei was trading on a flat note at 10250.

The Hang Seng was up by 79 points, trading at 20956.

The Straits Times was up by 4 points, trading at 2787.

Last but not the least, the Shanghai Composite was trading flat at 3101.

Quiet start to day's trade proceedings

Thu, 04 Mar 2010 09:19:41 UTC

After two successive days of happiness, Indian indices started the day on a quiet note.

The Sensex is trading at 16993, down by 6 points. On the other hand, the Nifty is down by 10 points, trading at 5078. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 0.04 percent and 0.3 percent, respectively.

Earlier, the US markets finished the day on a high note with Dow Jones closing the day in deficit of 9 points.

Nita Mehta’s Culinary Academy at Panasonic’s “Lifescape”

Wed, 03 Mar 2010 06:06:04 UTC

New Delhi, February 27, 2010: Panasonic, the Global technology leader in it’s yet another unique endeavor to evolve its customers with the brand is associating with renowned chef Nita Mehta. Panasonic will be conducting regular cookery classes for its patrons at its Flagship store “Lifescape”. Mrs Nita Mehta is a gold medalist in M.Sc (Food and Nutrition) and has authored more than 300 books on various topics.

In her inaugural session of culinary classes at the dedicated Cookery Zone of Lifescape, Mrs Nita Mehta exchanged few great culinary recipes like Strawberry smoothie, gaajar ka halwa, cheesy roasted potatoes, pasta and corn tomatoes and paan shots with the cookery enthusiasts. These classes would give a chance to visitors to learn some irresistible and sumptuous recipes.

The store showcases a wide array of Panasonic products in different sections ranging from Health to personal care products, from Home Appliances to Office Automation Products and Consumer Durables.

Present at the event, Ms. Sabiha Kidwai, General Manager – Brand Marketing & Corporate Strategy, said: “We are continuously looking forward to connect with our customers with distinctive ideas. These culinary classes will make cooking an enjoyable experience for all the learners. This will also help us to showcase our technological prowess and innovation across our Home Appliance Range. We will be having various interactive sessions like this in our specialized beauty and Kids Zone. ”

Sensex, Nifty outperform Asian counterparts on Wednesday

Wed, 03 Mar 2010 04:59:34 UTC

It was a day when Indian market got the better of its Asian peers. Finishing the day on the highest point of the day, it was a remarkable feat achieved by both the Sensex and the Nifty, thanks to some excellent buying in midcaps and smallcaps.

The Sensex finished the day at 17000, up by 227 points. On the other hand, the Nifty also closed up by 71 points, at 5088. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 1.83 percent and 1.29 percent, respectively.

Sensex, Nifty clocking gains on Wednesday's post-afternoon trading session

Wed, 03 Mar 2010 02:21:33 UTC

Indian indices are looking good for the day, thanks to a great start. The Sensex is trading at 16952, up by 180 points. On the other hand, the Nifty is up by 55 points, trading at 5072. Speaking of the second-rung stock segment, both the CNX Midcap and the BSE Smallcap were up by 1.54 percent and 1.35 percent, respectively.