The deal is part of the effort to revive the SUV maker, nowin a sale process under court-led restructuring.
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At 13.07 hrs IST, the Sensex was hovering around 17300 mark with negative bias. Selling pressure was seen in sectors such as auto, banking, IT and oil & gas stocks. However, FMCG, metals and power stocks witnessed some buying interest.
Stocks like L&T, ITC, HDFC, HUL and Jindal Steel were the positive contributors to the index while Reliance, Infosys, ICICI Bank, HDFC Bank and SBI were negative contributors.
Top losers on the Sensex were TCS at Rs 766.45 down 1.8%, Cipla at Rs 335 down 1.53%, Maruti Suzuki at Rs 1,341.35 down 1.08%, ICICI Bank at Rs 845.50 down 1.07% and Jaiprakash Asso at Rs 122.20 down 1.01%.
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BY MATTHEW DOLAN ANN ARBOR, Mich.—The United Auto Workers union is gathering in Detroit this week to elect a union president. But a new center of the labor power is emerging 45 miles to the west.
Here, a newly independent fund born out of the remaking of the Detroit auto business three years ago is busy figuring out where to place its roughly $45 billion in assets. That doesn't include ownership stakes in two of the three U.S. auto makers.
CHAKAN(MAHARASHTRA):Indian auto industry's output is getting affected by five to seven per cent dueto supply shortage in components, a top industry officialsaid.
"Tyres, casting and fuel injection are the three problemareas...as I see it, nothing can be done about it and the shortage will remainthe same as I do not see the supply going up," Mahindra and Mahindra's Auto andFarm Equipment's President Pawan Goenka told reporters on the sidelines of anevent here.
Goenka further said that importing components is notpossible. "This is not a commodity, which is in short supply and you go outsideand pick up the required quantity. Each of the component (in short supply) needsa certain turnaround time to produce." He also pointed out that therapid growth, which the Indian automobile sector has seen in the last few monthshas further added to the woes. Had the sector grown at around 10-12 per cent,the manufacturers would have been in a better position, hesaid.
Two auto-lifters held Times of India VARANASI: A joint team of police nabbed two members of an auto-lifter gang from near Vishwasundar bridge under Lanka police station on Saturday night. ... |
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