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Andhra bids farewell to YSR
Former chief minister YS Rajasekhara Reddy, who died in a helicopter crash two days ago, was laid to rest on Friday by the side of his parents at his private estate at Idupulapaya in Pudivendula, his hometown. The embalmed body, which was kept in a wooden coffin, was buried at 5.30 pm.

DIIs net buyers of Rs 2,330 cr in cash mkt today
Domestic institutional investors (DIIs) were net buyers of Rs 2,330.25 crore (provisional) today, according to data released by BSE.

News of the day

Disinvestment, the buzzword
Disinvestment is a buzzword now. Economic Survey 2009 indicates that the central government would mobilise Rs 25,000 crore from disinvestment of its holdings in state-owned enterprises (or public sector enterprises). The target is abysmally low (at Rs 1,120 crore) in the budget 2009-10 presented by the Finance Minister. We may assume that the target is Rs 25,000 crore for the year 2009-10. The government is committed to disinvestment, although some of its coalition partners and trade unions are against it. There-fore, although there is no debate on the issue within the lead coalition partner, there are some questions that remain unanswered.
International Business

Competition to heat up as biggies gear up for small-car launch

Come 2010 and the small-car market is likely to witness intense competition with at least four new players set to launch their products in the market. General Motors India, Ford India, Nissan Motor India and Volkswagen India are gearing up to launch their small car models--the Chevrolet Bear, the Ford Figo, the Nissan Micra and the Volkswagen Polo, respectively. Sensex flat; Metal, IT stocks gain Uttam Galva soars post ArcelorMittal stake hike India Glycols turns around; posts Rs 7 cr profit Rahul and Udhav spar on Mumbai migrant issue NTPC fixes FPO base price at Rs 201 a share "While competition will continue over the next three years, there will be sales of more than two million cars within one-year of launch," a Bangalore-based auto analyst, Salil Barua, said. The overall auto market in the country will grow with the entry of new players, Barua said. India"s auto industry is amongst the first sectors to recover from the global economic slump. Auto sales have surged 18 per cent to 7.8 million in the eight-months from April to November. Passenger vehicles" sales have gone up 21 per cent to 1.2 million units. "New entrants will dominate the market but it will not affect the existing players much. However, the picture will be clear only after the new cars are launched," Fiat India"s CEO, Rajeev Kapoor, said. Fiat plans to launch its small car in 2011.


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