Maruti Suzuki, India’s largest car maker, said it will increase car prices next month due to increased costs. “Over the past year, the cost of company’s vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates, etc. “Hence, it has...
COMMODITIES
Center imposes stock-holding limits on sugar
Faced with the prospect of lower-than-expected production of sugar in the ongoing season due to drought, the government has imposed stock curbs on dealers to prevent speculation and hoarding, the food and consumer affairs ministry said today. “With the objective of keeping the sugar prices...
ACC, Ambuja to challenge Competition Commission order
ACC Ltd and Ambuja Cements said they will challenge the fine imposed by the Competition Commission of India yesterday, and that a similar order passed by the CCI four years ago had been set aside by the Competition Appellate Tribunal in December last year. “We await...
Mahindra & Mahindra launches NuPro edible oil in West Bengal
The Agri Business vertical of Mahindra & Mahindra, part of the USD 16.9 billion Mahindra Group, today announced the launch of its branded edible oil – NuPro. The company, under the Nufro brand, will offer a bouquet of edible oils, starting with mustard oil. The...
Fund manager explains how India’s onion cartel works
Sandip Sabharwal, a Mumbai-based fund manager and investment expert, has explained how unscrupulous hoarders and traders in India jack up the prices of onions. In a post on his Facebook page, Sabharwal described the exact methodology of how India’s onion cartel, that pushes up onion...
Commodity trading in India down sharply in the wake of scam, gold curbs
Negative investor sentiment due to recent payment crisis in the National Spot Exchange Ltd (NSEL), sluggish participation in gold and silver futures and increased volatility following rupee have combined to pull down the turnover in India’s top commodity futures trading exchanges, according to an expert...