Kingfisher plans to add 10 pc capacity, code-share with BA from mid-Sep Private air-carrier, Kingfisher Airlines, plans to add over 10 per cent capacity from the coming winter schedule, besides adding a couple of domestic and international routes, a senior airline executive said. The airline has already filed its winter schedule with the Government, it (increased capacity) is going to be more than 10 per cent for sure."
Maruti, Tata Motors & Skoda set to drive into MUV Segment The country’s largest carmaker Maruti Suzuki India, largest automaker Tata Motors and Volkswagen’s Skoda Auto India plan to enter the crossover market, the fastest growing segment in the passenger vehicle market. Tata Motors will roll out its Tata Aria, developed from the Xover concept, in the last quarter of 2010, while Maruti’s first crossover based on its R3 concept and Skoda Roomster will hit the Indian road next year, according to industry executives familiar with company plans.
Reliance buys stake in East India Hotels for $217.5 million The Reliance Industry (RIL) move on to buy 14.12% stake in East India Hotels, promoted by the Oberois, by paying Rs1,021 crore, looks like helping the founders establish a detente, because ITC, the tobacco-to-hotels giant that’s also a business rival, holds 14.98% stake, perilously close to the open-offer trigger, in the company.
Cont… The shares were acquired through RIL’s wholly owned subsidiary Reliance Industries Investment and Holding Pvt Ltd from Oberoi Hotels Pvt Ltd and certain other promoters of East India Hotels (EIH) Ltd. With this acquisition, the EIH promoter family stake comes down to approximately 32% from 46.43%.
Silver hits new record, gold closes below Rs 19K level Gold prices declined further to close below the psychological Rs 19,000-level at the bullion market due to reduced buying interest from retailers at current levels amid profit booking following a bearish trend in global markets. Meanwhile, white metal, silver continuing its record breaking spree, created yet another high on the back of heavy industrial demand coupled with stockists buying triggered by a sharp rally in overseas markets, where the metal settled at its two-year high.
Cont… Standard gold (99.5 purity) dropped further by Rs 95 per ten grams to finish at Rs 18,970 from Friday's closing level of Rs 19,065. Pure gold (99.9 purity) fell by a similar margin of Rs 95 per ten grams to close at Rs 19,060 from yesterday's close of Rs 19,155. As on 4th sep. 2010
Nippon Paint to inject rupees 250 crore in India In order to expand itself in India, Japanese paint maker, Nippon Paint is going to make more investments in the country. The corpus that it has set aside for this purpose is worth rupees 250 crore. The company said that the expansion and injection of money will be over within next three years time. As of now, Nippon has three facilities in India and are at- Pune, Bangalore and Chennai. As of present, it has already put in rupees 250 crore in the country.
Cipla set to buy 25% in South African firm Cipla has said that it is going to buy 25 per cent stake in one of the South African firm named CiplaMedpro. The final board approval is going to be given in the board meeting that is to take place in October. CiplaMedpro is the third largest drug company in South Africa and Cipla has not got any stake in the company. Ciplaexports around 35 per cent of its total production and most of these deal with Aida. Around 15 per cent of this is sent to Africa.