Tata Motors posts 15 percent sales growth in January

Auto major Tata Motors Tuesday reported a 15 percent growth in its total sales, including exports, of commercial and passenger vehicles in January this year to 75,423 vehicles, against 65,478 vehicles sold in January 2010. According to a company release here, its domestic sales of commercial and passenger vehicles for January 2011 were 70,475 units, registering a 13 percent growth over 62,202 units sold in January last year.

India’s exports rise 36.4 percent in December

India’s exports jumped 36.4 percent to $22.5 billion in December, the highest level in nearly three years, while imports declined 11.1 percent to $25.13 billion, according to official data released Tuesday. Cumulative value of exports for the period April-December 2010 was $164.70 billion as against $127.18 billion during the same period a year ago, registering a growth of 29.5 percent. Imports declined 11.1 percent to $25.13 billion in December, narrowing monthly trade deficit to $2.63 billion

Nalco Q3 profit up 65 percent

State-run National Aluminium Company Limited (NALCO) Monday said its Q3 net profit registered 65 percent rise over the corresponding period in the previous fiscal due to lower operating cost and recovery of metal prices. The company has registered in Q3 a net profit of Rs.256 crore (about $55 million) up 65 percent from Rs.155 crore achieved during the corresponding quarter of the previous fiscal, the company said here in a statement

HCL Infosystems bags Rs.250 crore BSNL order

HCL Infosystems Ltd. Monday said it has bagged a Rs.250 crore project from state-run Bharat Sanchar Nigam Ltd. (BSNL) for deploying facilities to manage the telecom operator’s billing system and upgrade the existing infrastructure for higher efficiency.

Sensex pares some intra-day losses

A benchmark index for Indian equities markets Monday pared some of its intra-day lows in the afternoon, moving up from its intra-day lows although weakness persisted across the breadth of the market amid negative cues from Asia. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,226.21 points, was ruling at 18,277.89 points, down 118.08 points or 0.64 percent from its previous close at 18,395.97 points

Weak start to week for Sensex

A benchmark index for Indian equities markets Monday started the trading week on a negative note as across the board selling continued.

ONGC Q3 net profit doubles to Rs.7,083 crore

State-owned Oil and Natural Gas Corporation (ONGC) Friday reported a 5.87 percent rise in net profit for the third quarter ended Dec 31 at Rs.7,083 crore as against Rs.3,054 crore earned during the same period of last fiscal. The exponential rise in profit was due to higher crude oil prices in the period, as well as due to the governments decision to raise the gas prices, an ONGC statement said

People have to bear some burden of oil price rise: Mukherjee

Finance Minister Pranab Mukherjee Friday said the burden of oil price rise will have to be borne at least partly by the people as oil marketing companies were unable to sell at earlier rates as global crude oil had got costlier. “Oil marketing companies cannot make money from heaven. The price rise has to be passed on,” Mukherjee told reporters at an informal luncheon here.

Sensex closes 1.38 percent lower amid heavy selling

Indian equities markets Friday closed lower amid intense selling across sectors. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,708.62 points, closed at 18,427.57 points (provisional), down 256.86 points or 1.38 percent from its previous close at 18,684.43 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended 1.38 percent lower at 5,526.8 points.

Bharti Airtel is not a price point player in 3G service

Integrated mobile telephony major Bharti Airtel Ltd said Thursday that it is not a price point player though there may be price play in the company’s strategy to gain market share in the 3G service segment. “There are market segments that have different needs. Pricing plans to have to meet that

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