Hyundai India Motor Friday said it will phase out its premium hatchback Getz by 2011 but launch a revised version of Santro next month. “The Getz will be phased out in two years,” said company managing director and chief executive H.S. Lheem at the annual convention of the Society of Indian Automobile Manufacturers. “We... More

Whirlpool Corp. (WHR) will close a factory in Evansville, Ind., a move that will lead to 1,100 job cuts in 2010. The factory’s refrigerator and freezer production will move to one of its facilities in Mexico. The company has yet to decide on the fate of a product development center also in Evansville with 300 employees, and... More

Maruti Suzuki India has launched a new revamped Zen Estilo with the new K-series engine and significant visual upgrades, further strengthening their small car lineup. This new updated Zen Estilo now has a 998-cc K-series engine which has a claimed fuel efficiency of 18.2 kpl (ARAI tests) and passes the BS IV emission norms. A new... More

Two-wheeler major Hero Honda Motors Wednesday reported 83 percent jump in profits to Rs.500 crore ($103 million) for the quarter ended June 30 as compared to Rs.272.8 crore in the like period last year. The total income surged 33.7 percent to Rs.3,864 crore from Rs.2,890 crore, the company said in a regulatory statement. Hero Honda’s... More

Reliance Industries’ counsel Harish Salve said the company will not oppose Anil group firm RNRL’s plea, to be filed in Supreme Court tomorrow, for final hearing of petitions pertaining to a gas supply dispute between the two companies. “I have nothing to say. If the court decides to hear it, why should I oppose,”... More

Microsoft Corp and Yahoo Inc’s top executives had been talking about a search advertising partnership for months but only knew they had a deal on Monday, the CEOs of both companies said on Wednesday. The two companies finally announced a 10-year ad partnership to take on Google Inc early on Wednesday, apparently ending a saga... More

The base metal sector saw an excellent performance for whole of this week, but today seemed to be a day of consolidation. Copper saw a percentage point of a decline there but most of the fundamentals were very supportive. The dollar index was at seven weeks lows and investors were concerned about possible tightening of credit. It’s... More

Markets continued their downward journey for the second straight session. Frontline indices slipped nearly 3.5% from the day’s highs to close deep in the red. The Nifty closed at 4,399 down 70 points, while the Sensex shut shop at 14,843 down close to 220 The most disconcerting part of the sell-off was that it happened with... More

Railway minister Mamata Banerjee on Friday presented the 15th Railway Budget in Parliament. Presenting a promised ‘pro-people’ budget, the railway minister said that economic viability is not the only index of development, according top priority to social commitment. She went on to add, “People expect to get better... More

The government has hiked prices of petrol and diesel prices by Rs 4 per litre and Rs 2 per litre respectively. The government though decided to leave prices of kerosene and liquefied petroleum gas (LPG) untouched. The hike comes into effect from midnight. Addressing a hurriedly-called press conference, Oil Secretary RS Pandey said... More

Mumbai : Global economic downturn cast its shadow on home-grown auto major Tata Motors which has posted a consolidated net loss of Rs 2,505.25 crore for FY 09 against a profit after tax (PAT) of Rs 2,167.70 crore for FY 08. Consolidated revenues for the reporting year was Rs 70,938.85 crore against Rs 35,660.07 crore in FY 08, Tata... More

Bajaj Auto (BAJAJAUTO.NS: 2101.05 0), the country’s second largest manufacturer of two-wheelers, plans to almost double its sales in the country by the second half of 2009-10 on the back of six new launches this year. From an average of 1,10,000 units sold in the domestic market in the past two months, the company expects... More

The only victory over the UPA government (led by 262 seats) in the 15th Lok Sabha election, which has shrugged of the output results in a drastic way the polls, a great joy for the markets in early trade. The benchmarks above circuit locked. The BSE and NSE have decided that the trade from 11:55 am (ie after two hours to end). In... More

Vice-President and Global CIO-Equity, BlackRock, said the U.S. market is not to test new low, but was quick to add that the S & P 500 back in May at 750-800 levels. He added that the markets are showing resistance to the epidemic of swine influenza. I do not think we will test new lows. We might go back to 750-800 zone on the... More

Air Works Engineering India has reported an incident at its Mumbai Airport facility on April 23rd. The Helicopter is under an Air Works Maintenance contract. As part of its maintenance inspection, an Air Works technician discovered the tampering. The Air Works management immediately brought the matter to the attention of the Customer,... More