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May 10: RBI tries to curb rupee

  • May 10: RBI tries to curb rupee

    May 10: RBI tries to curb rupee

  • April car sales rise 3.4% y-o-y

    Traffic moves along a busy road in New Delhi.

    Car sales in India rose an annual 3.4% in April, according to data from an industry body, a sixth consecutive monthly increase but lower than in recent months after the country hiked excise duty on the vehicles.

    Sales rose 20% in March, the biggest monthly rise in a year, thanks mainly to a rush from customers to buy cars before price hikes from manufacturers in response to the excise duty increase came into effect. Automakers sold 168,351 cars in the domestic market in April, according to data released by the Society of Indian Automobile Manufacturers on Thursday.

  • Sony sees return to profit after record annual loss

    A woman walks past signs of Sony Corp's Bravia LCD TV at an electronics store in Tokyo.

    Japanese consumer electronics giant Sony Corp posted a record net loss of $5.74 billion last year, but expects a return to profit this year as it trims losses in its TV business.

    Sony shares, valued at below $15.5 billion, this week slipped to a quarter century low, a sign of how the Walkman and PlayStation maker has lost its innovative edge and fallen behind rivals Apple and Samsung Electronics.

    Under new CEO Kazuo Hirai, Sony is slashing costs and jobs in a bid to turnaround its struggling TV unit. While considering partnerships to help Sony compete better in TVs, Hirai is looking to cameras, gaming and smartphones to spur growth.

    Sony expects operating profit of 180 billion yen in the year to next March.

    In the year just ended, Sony posted an operating loss of 67.3 billion yen. It forecast a full-year net profit of 30 billion yen. <

  • Nomura upgrades Bajaj Auto to &#39;buy&#39;

    Newly built motorbikes are seen at the Bajaj Auto Ltd. plant in Pune.

    Bajaj Auto rises 1.2% to Rs 1,538 after Nomura upgrades the two-wheeler to "buy" from "neutral," and raises its target price to Rs 1,809 from Rs 1,588.

    The brokerage cites compelling valuations, weak rupee, and the launch of the Pulsar and Discovery motorcycles as key reasons for the upgrade.