Indian Stocks Trade Lower; European Markets Marginally Higher

Submitted by Sunil Kashyap on Mon, 12/03/2012 - 09:02
Indian Stocks Trade Lower; European Markets Marginally Higher

Indian Stocks were trading lower on Monday after a positive start for the trading session. BSE Sensex was down by 58 points at 19281 and NSE Nifty was trading at 5862, down by 18 points at 2.36 pm IST. European markets have opened marginally positive.

Among major gainers in today’s trading session were UltraTechCement, ACC, BHEL and Jaiprakash Associates. Among major losers were HDFC Bank, IDFC, HDFC and NTPC.

GMR Infra has been granted stay in Male Airport contract case. Morgan Stanley has raised Indian GDP growth forecast. Troubles of Sahara group have increased after Supreme Court has condemned the company for not returning the money of investors by 30 November.

Bajaj Auto is expecting better volumes as a company looks at higher market share with 100cc motorbike launch.


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Overseas firms look past weakness in Indian economy

Overseas firms look past weakness in Indian economy

Global firms are making huge investments in India's consumer market, despite the overall weakness in the Asia's third-largest economy.

In the recent past, consumer goods giant Unilever announced its decision to invest $5.4 billion to increase its stake in its Indian arm Hindustan Unilever Ltd.

Available figures suggest that foreign companies collectively spent around $9.86 in mergers and acquisitions in India this year. The figure is the highest in Asia.

Chennai-born Mittu Chandilya to pilot AirAsia’s India operations

Chennai-born Mittu Chandilya to pilot AirAsia’s India operations

AirAsia's CEO Tony Fernandes on Wednesday revealed the identity of the person who will pilot the Malaysian airline's India operations.

Fernandes, the promoter of AirAsia, had announced in March that the airline had selected a very smart boy from Madras, with an amazing CV, as the CEO for AirAsia India.

Revealing the identity of the AirAsia India CEO, he yesterday said the CEO is 32-year-old, Chennai-born Mittu Chandilya, who is currently based in Singapore.

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