Bajaj unveils 4-wheeler
Bajaj unveils 4-wheeler
An employee walks past an Aston Martin Rapide inside the company's showroom in Mumbai
From farmers who swapped fields for cash to 20-something CEOs that inherited the family business, hot new money is flooding India's luxury car market as roaring sportscar engines announce the country's growing wealth on its roads.
No senior Indian executive feels complete without his sleek German-made saloon, while Italian sportscars are the new calling cards for the country's rich young things at exclusive nightclubs that screen guests at the main gate, not at the door.
A stock broker talks on phone in front of a television showing news about the market crash at a brokerage firm in Bombay
Reliance Industries said on Tuesday a unit has agreed to fund the owners of media firms Network18 Media and Investments and TV18 Broadcast to help them subscribe to a rights issue.
TV18 earlier said its board had approved issue of shares on rights basis for up to Rs 2,700 crore.
An employee uses an electronic machine to check an Indian currency note inside a bank in Allahabad
The ability of India's top 500 companies to service debt has dipped to a five-year low due to high interest rates and a drop in operating profits, Crisil Research said in a note on Tuesday.
Crisil's study covered 420 companies, excluding banking and financial institutions and state-owned oil marketing companies.
During the September quarter, interest cost for Indian companies rose 36% on year, Crisil said.
A picture illustration shows a two euro coin outside the European Parliament in Brussels
Better-than-expected data from China's giant manufacturing sector boosted global stocks and the euro on Tuesday and pushed safe-haven bets like German bonds lower.
Europe's debt crisis still clouds the outlook ahead of a daunting first quarter of borrowing which is expected to push the euro lower and undermine demand for the region's lower-rated sovereigns.
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