Maruti Suzuki’s total sales in June fell by about 8.8% YoY (year-on-year) basis to 80,298 units, this was due to a sharp decline in sales of passenger car models such as SX4, Swift D’zire, Maruti 800 and multi utility vehicles Gypsy and Grand Vitara. The company's sales were partly hit by the workers strike at the Manesar factory during the last month. While there was no production for 10.5 days ... [Continue Reading]
Petrol Price Hike for the Second time in January
India's leading oil marketing companies (OMC) has hiked the petrol prices by Rs.2.54 from Saturday midnight. This is a second price in the month of January 2011. This price hike will worry the markets participants in short term as price hike will create inflation pressure. How Will Petrol Prices Affect the Stock Market: Whenever price hike is imposed on petrol, we have seen profit booking in the ... [Continue Reading]
IIP November Data Comes Worse Than Expected at 2.7%
India's industrial data comes worst than expected. In November, it came to slowest industrial growth of 2.7 than its average annual 11.3%. Domestic markets reacted by giving up their early gains. Also inflation is now worrying market participants a bit more. The complete picture that comes in mind is, it will be bad time for the markets in near term. ... [Continue Reading]
Listing of MOIL Shares Will be Done on 15 December 2010
India's largest Manganese ore producer, will list its share on India's leading stock exchanges on 15 December 2010. The initial public offering (IPO) received great response from all investors and was subscribed more than 56 times. The has fixed the issue price at higher end of the price band, at Rs.375. MOIL is one of the lowest cost producers of manganese ore in the world and also India’s ... [Continue Reading]
Indian Economy Grew at 8.9% in July-September 2010 Quarter (Q2)
The domestic equity markets settled higher today, tracking robust gross domestic product (GDP) data for the July-September 2010 quarter (Q2). The Indian economy expanded at 8.9% during Q2FY11 against the street expectations of around 8-8.5%. Though global cues were not very encouraging in trade today, but the markets managed to show smart recovery during the session after release of the GDP data. ... [Continue Reading]