The automaker, which first started production in India in 1983, plans to expand output there to 1.45 million units by 2012.
The latest expansion will increase annual output in India to 1.7 million units by 2013 -- exceeding total output of 1.4 million in Japan , the newspaper said.
MYSORE: An auto-rickshaw driver, who outsmarted the traffic police by taking away the wheel lock , has landed in jail.
Joseph Oliver , 50, of Mahadevapura was arrested for theft of government property and has been remanded to judicial custody.
Police said the wheel-lock system was introduced to check the no-parking menace. But last week when policeman Mahadevappa attached to Devaraj traffic division locked an auto parked on Ashoka road, the driver outsmarted the police. He removed the tyre along with the lock and drove away. The lock costs Rs 2,000. On Friday, the driver was arrested near the race course by Lashkar police .
MUMBAI:You wouldn’t expect a truck financier to get excited about planning abeauty pageant. But R Sridhar, MD of Shriram Transport Finance, is organisingnot one, but 60 of them. Only, there won’t be any long-legged models, butused-trucks rumbling down the ramp.
Come October 2010, a 3-4 acreauto mall, with a gallery to accommodate 250 bidders and a yard to househundreds of refurbished trucks, will spring up on the outskirts of Chennai.“Every vehicle will be shown off like a bride,” says Sridhar. Aquick-fire auction, even as the truck rolls down the ramp in the gallery, willdecide who drives it home. Sixty such malls will come up by 2013, drawing 1.5lakh customers to the auctions, the company hopes.
Of the 5 milliontrucks on India’s roads, 1.5-2 million are traded every year. But theprice discovery process is haphazard. Most small truck buyers have neither bankaccounts nor loans from financial institutions. These malls will help create anefficient and transparent market for pre-owned trucks.
Bajaj Auto gained 2.12% to Rs 2843.55 at 14:42 IST on BSE, on strong sales in August 2010 and ahead of record date for a liberal bonus issue.
On BSE, 34,962 shares were traded in the counter as against an average daily volume of 46,666 shares in the past one quarter.
The stock hit a high of Rs 2849 and a low of Rs 2790 so far during day. The stock had hit a record high of Rs 2862.90 on 24 August 2010 and a 52-week low of Rs 1161.85 on 2 September 2009.
The key benchmark indices edged higher in early trade, tracking gains in Asian stocks. The BSE 30-share Sensex was up 47.80 points or 0.26%, off close to 30 points from the day's high. The S&P CNX Nifty fell below psychological 5500 mark, after crossing that level at the onset of the trading session. The market breadth was strong. Auto stocks extended recent gains after reporting robust vehicle sales for August 2010. Index heavyweight Reliance Industries (RIL) edged lower.
NSE's volatility index, India VIX, a gauge of traders' perception of near-term risks in the market based on options prices, was down 0.37% at 16.09. India VIX is calculated based on the S&P CNX Nifty options prices. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.
On macro front, the government will unveil data on some wholesale price indices for the year through 21 August 2010 viz. the food price index, the primary articles index and the fuel price index at about 12:00 IST today. The weekly data is delayed by one day, as Thursday, 2 September 2010, was a government holiday due to the Janmashtami festival.
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