GAIL (India) Limited, India’s largest pipeline operator, said it has taken a 5% stake in Indian Gas Exchange or IGX. It is not clear whether the investment is into fresh shares or whether the purchase is those of shares belonging to an existing shareholder. However, GAIL said it signed a share purchase and shareholders agreement […]
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 become imperative for the Company to pass on some impact […]
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 at reasonable level and to ensure smooth supply of sugar […]
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 receipt of a certified copy of the CCI Order. The […]
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 product is priced at Rs. 144 for a one litre […]
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 prices to as much as Rs 100 per KG, operates. […]
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 paper prepared by ASSOCHAM. From a peak of Rs 181.26 […]
