Japanese automobile major Nissan is planning to launch 10 models in India till financial year 2016.
&ldquo;Nissan has set a target of 10 per cent market share in India by the end of fiscal 2016. To achieve this target, the company is planning to launch 10 models till 2016 and planning to expand its dealership network to 300 from the current 95. At present, the company's market share in India's passenger vehicle segment is around 1.5-1.6 per cent,&rdquo; Toshiyuki Shiga, chief operating

Nissan to launch Micra and Sunny CVTs

Business Standard

If the Reserve Bank of India&rsquo;s (RBI) draft norms on loan restructuring are finalised, public sector lenders that hold a major share in restructured loans would be the most hit.

'Debt recast norms to hit govt banks the most'

The Export-Import Bank of the United States has sought powers from the Reserve Bank of India (RBI) for recovery under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act. Its application is pending with RBI. Fred P Hochberg, chairman and president of US Exim Bank, said the bank had held discussions on the issue with RBI and the finance ministry.

US Exim Bank's plea for recovery powers with RBI

Petroleum Minister M Veerappa Moily on Friday said diesel prices would be raised 40-50 paise a litre every month until under-recoveries on the fuel were completely wiped out.

Diesel prices to rise 40-50 paise a month: Moily

Following the Reserve Bank of India (RBI)&rsquo;s decision to reduce the repo rate and cash reserve ratio, more public sector lenders have reduced their base rates.

Canara, BoB and BoI cut base rate

The Empowered Group of Ministers (EGoM) on telecom on Friday decided to remove the cap on maximum number of blocks for the operators in the upcoming auction. There is no cap other than policy restriction of 25 per cent and 50 per cent of the spectrum, Telecom Minister Kapil Sibal said.

EGoM removes bidding cap for spectrum auction

The Central Board of Excise &amp; Customs (CBEC) has detected service tax evasion of Rs 9,800 crore in the April-December period this year. It has warned evaders to pay the tax or face action.

CBEC detects Rs 9,800-cr service tax evasion

Higher revenue and an improvement in yields, coupled with reduced operating expenses, has helped Jet Airways return to profit. For the quarter ended December, the airline reported a consolidated net profit of Rs 93 crore, against a loss of Rs 122 crore in the year-ago period.

Jet swings to profit ahead of Etihad deal

The new year failed to bring cheer to car companies in the domestic industry, with 10 of the country&rsquo;s leading automobile manufacturers together posting a decline of 4.7 per cent in sales at 216,511 units last month. The industry is now hoping for some respite from growth-oriented measures in the Union Budget to be announced on February 28 to rev up numbers in the near future.

Car makers see January sales dip, look to Budget for lift

The Union government Friday got a little over Rs 3,000 crore by divesting a 10 per cent stake in Oil India Ltd (OIL), taking this year&rsquo;s disinvestment kittty to a little over Rs 10,000 crore.

Govt gets Rs 3,100 cr through Oil India divestment

Consumer products company Marico posted a 21.4 per cent growth in net profit to Rs 104.6 crore in the three months ended December 2012 versus Rs 86 crore reported last year.

Marico net up 21% on higher volumes

ePlanet Capital has exited Chennai-based Sree Ramcides by selling its entire shareholding to Tokyo-based SDS Biotech KK (SDS Biotech), which is into research &amp; development of agrochemicals. The company had invested around Rs 22 crore for a 36 per cent stake in 2008 and exited for Rs 50-52 crore.

ePlanet exits Sree Ramcides

Net profit of TVS Motor Company has experienced a drop of 7.2 per cent for the three months ended December 31 at Rs 52 crore, compared with the net profit of Rs 56.5 crore in the corresponding period last year.

TVS Motor net down 7.2% to Rs 52 crore

After suspending automated execution logic, popularly called algorithmic (algo) trading, in micro and mini contracts effective January 1, the Forward Markets Commission (FMC) has put in place regulations for the use of this technologically-advanced trading in major commodities.

Nod for algo trading in major commodity futures

Dalal Street traders, preparing to wind up the week after a rather dull day, were jolted by a series of trades in Tata Motors and UltraTech Cement which sent these stocks crashing for a while.

Tata Motors, UltraTech shares tumble after block trades

Hyderabad-based jewellery and textile player Sai Silks (Kalamandir) is planning to enter the capital market towards the end of February to raise Rs 89 crore. The proceeds of the issue will be used to fund the company&rsquo;s expansion programmes and meet working capital needs.

Sai Silks to enter capital market to raise Rs 89 cr

The Odisha government has decided to take away land allotted to industries, which are just sitting on the property without setting up their projects for years together.

Odisha to take back unutilised industrial land

The Forward Markets Commission (FMC) has directed commodity exchanges to settle traders' arbitration claims of up to Rs 10 lakh immediately. Until now, arbitration amounts were deposited by members and clients to commodity exchanges, which accrued these in investor protection fund (IPF) accounts. In a circular, FMC said, &ldquo;To strengthen IPF in the commodity futures market and ensure expeditious redressal of clients' trading grievances in a cost-effective manner, the commission has decided clients should not be charged any fee or asked to make any deposit with the exchange if the amount of their claim or counter claim is up to Rs 10 lakh. Such expenses, therefore, should be borne by the commodity exchanges concerned.

'Settle arbitration claims of up to Rs 10 lakh'

Finance Minister P Chidambaram has reiterated the government&rsquo;s policies would be directed towards containing the fiscal deficit, boosting growth and encouraging foreign investments in the country. Speaking at the Sixth Meeting of the Financial Stability and Development Council (FSDC) on Thursday, Chidambaram highlighted the efforts being made to turn the economy around.

FM on govt policies, investor confidence

The Supreme Court (SC) has deferred the 2G telecom spectrum hearing until March 11, according to the SC website. The decision would effectively extend the validity of the quashed licences, giving the operators an option to continue their services in the circles where licences have been quashed, till the next round auction. The SC had sought additional details from the government on the previous round of auction.

SC defers 2G hearing

Gujarat Gas Company Limited (GGCL) has revised its gas prices upwards by four percent from the exiting charges for its industrial consumers. The revised prices are Rs 30.25 per standard cubic meter for a higher consuming slab, while lower consuming slab will be charged Rs 26.97 per scm from February 1. &ldquo;Sharp increase in LNG prices necessitated price hike. We have not made hike in domestic gas prices or CNG prices,&rdquo; said Sugata Sircar, MD, GGCL.

BS Reporter