News digest: FPIs to sell Indian stocks, Maruti's small car sales, and more

From Foreign portfolio investors selling domestic bonds to Sterlite stir, BS brings you up to date with the latest news

FPIs press sell button on Indian stocks, bonds worth $7 bn since April

Foreign portfolio investors (FPIs) have dumped domestic bonds and equities worth nearly $7 billion (Rs 441 billion) since April. The pullback comes amid the greenback’s ascendance against most global currencies and the 10-year US Treasury hitting the dreaded 3 per cent mark. Read more

Maruti Suzuki switching lanes: Small cars now down to 25% of total sales 

Maruti Suzuki, which started as an entry-level carmaker 35 years ago (the 800 was launched in 1983) and rode on the popularity of these cars to become the market leader, now gets just one-fourth of sales from this segment. Not very long ago (in 2011-12), this segment brought almost half of the carmaker’s sales. Read more

Few takers for Maharaja: Global roadshows for Air India get tepid response

With just four days to go for the deadline to submit an expression of interest (EoI) for Air India, the government is waiting to hear from likely suitors. The last leg has been action-filled with top executives of consultancy firm EY, the transaction advisor for Air India disinvestment, flying across the world over the past three weeks to generate interest among the big aviation players in Europe and Asia. Read more

Sterlite stir: Thoothukudi casts a shadow on Vedanta bid for Electrosteel

Protests against Sterlite Copper in Thoothukudi (previously Tuticorin), Tamil Nadu, are casting a shadow on the ongoing resolution process for Electrosteel Steels, with Renaissance Steel India, Sterlite’s rival in the race to acquire the company, planning to bring the matter up in its argument against Vedanta’s eligibility. Read more