business

Automobile major, Tata Motors, has registered a sales decline of 47.11%, to 25,219 units in December 2008, against 47,678 units in the year ago period. In the domestic market, the company witnessed a 31.28% fall in passenger car sales to 9,838 units compared to 14,316 units while commercial vehicles sales fell by 50.96%, to 14,056 … Read more Tata Motors sales skid 47.11% in December

India’s banking regulator Reserve bank of India (RBI) has cut rates across the board ahead of its quarterly review in shceduled later in January. The bank lowered both its policy rates repo and reverse repo by 100 bps while the reserve ratio CRR has been cut by 50 bps. CRR cut will release about Rs … Read more RBI cuts rates across the board

Karuturi Global Board after having received the balance 90% of the consideration amount, allotted 7, 13, 50,000 equity shares to the different investors who has exercised their option of conversion of warrants issued at Rs 16.50 warrant. The Board has also allotted 5,17,750 equity shares to the employees of the Company who has exercised the … Read more Karuturi Global conversion of warrants

Public-sector banking entity, Andhra Bank, is eyeing Rs 100,000 crore business by March 2009 and Rs 150,000 crore by the second quarter of fiscal 2010 from Rs 95,000 crore at present. The bank also aims to boost its lending and deposits and expects to improve net interest margin to 3-3.25% in next fiscal from 2.61% … Read more Andhra Bank eyes Rs 100,000 crore business by fiscal end

State-owned major iron-ore producer, National Mineral Development Corporation (NMDC), has sent a proposal for setting up a 10 million tonne integrated steel plant in Karnataka with an investment of around Rs 40,000 crore. The Navratna PSU has requisitioned 4,000 acres of land and has sought approval for water supply and mineral linkages for the project. … Read more NMDC to set up a steel plant in Karnataka