● SENSEX- closed at 17118.74 after losing 74.08 points. ● NIFTY- closed at 5148.35 after losing 20.50 points. ● USD/INR- 50.05 ● EUR/INR- 68.63 ● Crude Oil- $ 113.11/barrel ● GOLD(MCX)- Rs 29,295 /10 grams ● SILVER- Rs 57,855/kg ● Nasdaq- 2678.75 ● S&P500- 1263.85
● Country’s largest car maker Maruti Suzuki India has hiked prices of its diesel cars by up to Rs 10,000 with effect from today on account of higher input costs and appreciation of Japanese yen ● The company has hiked the price of the diesel variants Ritz by Rs 2,000, while that of Swift, SX4 and DZiRE have been raised by Rs 10,000 each. ● The strengthening of yen has increased the cost of import of components from Japan.
●
In one of its single biggest investments, beverage major Coca Cola and its partners will invest USD 2 billion (around Rs 10,000 crore) over the next five years to enhance its operations in India and set up a new plant.
● Apart from China and US in the past, this is one of our single largest investment in a country ● India is one of the most important growth markets for Coca Cola and the investment is being made as a part of the company's 2020 vision of doubling system revenues globally
● Retail giant Tesco Plc plans to build on its existing tie-up with Tata Group to expand in the country if foreign operators are allowed to invest in multi-brand retail. ● India currently allows 51% foreign investment in single-brand retailers and 100% for wholesale operations ● Tesco signed a franchise agreement in 2008 with Trent Ltd , part of the salt-tosteel Tata conglomerate, under which the Indian firm's Star Bazaar shops use Tesco's supply chains and infrastructure.
● Without waiting any more for introduction of the much-debated Goods and Services Tax (GST), the Union finance ministry has decided to go ahead with indirect tax reforms, particularly those related to services. ● The ministry is planning to time the rollout of Place of Supply (PoS) rules with the negative list for services, to be put into force next year. ● PoS rules specify place of supply is where consumption of service takes place. In the proposed rules, tax arising out of consumption within a jurisdiction should
● India's headline inflation was unchanged in October, worse than forecast and above the 9% mark for the eleventh straight month, complicating monetary policy for the Reserve Bank of India (RBI).. ● The central bank has raised interest rates 13 times since early 2010 but has failed to contain price pressures which are threatening to hit double-digit levels due to supply and transport bottlenecks and high global commodity prices. ● Annual wholesale price inflation in October stood at 9.73% versus 9.72% in
● India's budget carrier Spicejet will evaluate the option of selling stake to a foreign carrier if the government were to change rules, its chief executive said on Monday. ● India allows up to 49% foreign investment in Indian carriers but bars foreign carriers from picking stake. ● But with most carriers suffering losses, the government is now mulling allowing foreign airlines to pick up stake in local carriers
● IIM students this year have shown they isn't just enticed by the big brands and monies that global corporations offer. Small and medium enterprises (SMEs) and non-profits are attractive too, if challenging roles are on offer. ● About 15% of the 328 students at IIMKozhikode have chosen to intern with SMEs. At IIM-Indore, about 6.5% of the batch - 30 students - has opted to intern with SMEs in 2012.