Renault to sign MOU with M&M

Renault India is set to sign an MoU with Mahindra and Mahindra (M&M) for distribution of all its vehicle models in the country, said Sylvain Bilaine, managing director, Renault India. This agreement will include all cars that Renault will import into the country as well as the ones that the company will roll out from its Chennai plant in the first half of 2010.

The MoU comes despite M&M having walked out of the tripartite agreement with Renault and Nissan. "We will sign the MoU with M&M very soon,"
said Bilaine.

Kingfisher and Jet Airways to reduce fares by Rs 1000

India’s two largest private airlines,Kingfisher and Jet Airways, are likely to reduce fares by up to Rs 1,000 on domestic routes by Dec 2008.

Last week, oil marketing companies had announced a 17% cut in aviation turbine fuel (ATF) prices, while the government reduced customs duty on jet fuel by 5%.Including this the aviation ministry and the government has given them series of benifits to the Airlines industry.

Following this, Air Fuel prices in the metros have come down between Rs 44,965 and Rs 53,663 per kilolitre, a 20% drop from last month. The airlines also received an extension to pay off their fuel dues worth Rs 2,000 crore. However, the customers are yet to get any relief.

Inflation Again raised

After five-week downward trend in inflation, the inflation rate rose slightly to 10.72% for the week ended 25 October. It stood at 10.68% during the previous week.
The wholesale price index (WPI) for all commodities showed an increase of 0.1%, with the index for primary articles rose by 0.4%, according to a government statement released here today. The index for food articles rose 0.4% due to the higher prices of rice (3%), and urad and tea (2%).
The index for non-food articles rose 0.8% due to higher prices of rubber (up 7%) and raw cotton (3%). The index for fuel, power, light and lubricants remained unchanged at the previous week’s level of 369, while that for manufactured products declined marginally by 0.1% to 205.3 from 205.4 for the previous week.

Gufic Biosciences Board meet to consider dividend

Script Code:509079
Company name:Gufic Biosciences Ltd

Gufic Biosciences Ltd(GBL) Board Of Directors (BOD) meeting will be held on Nov 14,2008.In that meeting they are going to discuss about the following things
1.Approve the annual accounts of the Company for the year ending on March 31, 2008.
2.To consider and if thought fit to declare dividend.

Ashok Leyland new production plan

Market demand for Medium and Heavy duty vehicles came down drastically because of inadequate market funding and high interest Ashok Leyland has planned to moderate their production plan for next two months.Power shortage in most part of the country is also one of the reason.Ashok Layland's manufacturing units will work only 3 days a week till Dec 2008.

State Bank of Mysore - BPLR down by 75bps

Script Code:532200
Company name:State Bank of Mysore

After Reserve Bank of India(RBI) move in Repo Rate All Public sector banks and private banks started reducing their lending rates.Now State Bank of Mysore(SBM) has revised the Bench-Mark Prime Lending Rate (BPLR) down by 75 basis points with effect from November 10, 2008.

IAG Company - Board meet on Nov 12, 2008

Script Code:502241
Company name:IAG Company Ltd
IAG Company Ltd Board Of Directors (BOD) meeting will be held on Nov 12,2008.In that meeting they are going to discuss about the following things
1.For increasing the Authorized Share Capital of the Company.
2.To approve Preferential Allotment.

United Phosphorus new agreement

Script Code:512070
Company:United Phosphorus Ltd

United Phosphorus Ltd promoter group Companies M/s. Uniphos Enterprises Ltd (Transferor) has entered into an agreement on November 03, 2008 with another promoter group Company M/s. Nerka Chemicals Pvt. Ltd (Transferee) for interse transfer of 28,50,000 equity shares of the Company through off market bulk deal amongst promoter group as part of a strategic planning within the group.