Top 10 firms shed over Rs 1
lakh crore in a week, SBI loses
Sensex tumbling over four per cent in a week, the ten most valued
companies witnessed a wealth erosion of a whopping Rs 1 lakh
crore last week, with the country's largest lender State Bank Of
India emerging as the biggest loser.
The Bombay Stock Exchange barometer Sensex declined by 4.03
per cent or 848 points at 20,156.89, making the top ten firms in
terms of market capitalisation lose Rs 1,05,271.24 crore.
SBI was the worst hit with a value erosion of Rs 29,155.57 crore.
details of ministers' assets
In the midst of political heat over scams, Prime Minister
Manmohan Singh has decided to make public assets and
liabilities of his ministerial colleagues.
Details about the assets and liabilities of all ministers would
now be placed on the website of the Prime Minister's Office
and the information is likely to be uploaded in a couple of
RIL gets perfect score in list of
Asian 'corporate good guys'
RIL is the sole Indian firm to get a perfect score in a list of Asia's
best companies in terms of corporate social responsibility, which
also identified while Motors as among the laggards on this front.
In a report titled, 'Ethical Asia', by global research firm CLSA,
Reliance Industries, Australian airline Cathay Pacific and Japanese
conglomerate Mitsubishi UFG have been named as the companies
maintaining the highest CSR standards in the region and have been
termed the region's 'corporate good guys'.
Eicher Motors announces top
level management change
Eicher Motors announced a change in top level management with Chief
Financial Officer Vinod Aggarwal stepping down after taking over as the CEO
of the firm's commercial vehicle joint venture with Volvo.
Consequent to Vinod Aggarwal taking over as Chief Executive Officer of VE
Commercial Vehicles Ltd, he has relinquished the position of Chief Financial
Officer of the company.
Lalit Malik has been appointed as the Chief Financial Officer of the company.
VE Commercial Vehicles Limited (VECV) is a 50-50 joint venture between the
Volvo Group and EML. It has been in operation since July 2008.
small tractor Yuvraj
Auto major Mahindra & Mahindra will double the
production of its small tractor Yuvraj, dubbed as the
Nano of the farm sector, as it looks at a national roll-out
Priced at Rs 1.75 lakh, the 15 horse power tractor was
launched targetting to upgrade farmers who are still
relying on bullocks.
At present the Yuvraj is available only in Gujarat and
Maharashtra. Now we are test marketing in Tamil Nadu,
Karnataka, Rajasthan and Uttar Pradesh.
The company will make the Yuvraj available nationwide by
next year. In eight months since the launch the firm has so far
sold about 4,000 units.
COAI supports tightening of
network roll-out obligations
The lobby of GSM operators has favoured tightening of
norms for roll-out obligations for all operators, a move that
could spell troubles for new players who were given licences
along with start-up spectrum but are yet to start services.