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Car sales see record November surge
Fears of an imminent price rise, production spillovers owing to spare parts shortages plus a low base effect saw sales of the country"s major car makers grow a record 63 per cent in November.

Investors rush to safer places
Global commodities experienced a steep fall today, as investors and hedge funds across regions unwound their long positions after the news of Dubai’s debt crisis. Most commodities were down today between three and five per cent as the dollar strengthened. In late afternoon trade, however, prices recovered.

News of the day

Murdoch wants family to succeed
News Corp Chairman Rupert Murdoch, who began building his media group with the Adelaide News in 1953, said he’d like one of his children to succeed him, amid regular discussions about who will take over at the US company.
Management

Gulf Oil enters into agreement with Biocon to sell pharma biz

Hinduja Group company, Gulf Oil Corporation today said its subsidiary has entered into an agreement with Biocon to sell its Active Pharmaceuticals Ingredients (API) undertaking, for an undisclosed amount. - Ashok Leyland may hike commercial vehicle prices by April - ONGC-Hinduja JV loses Iran"s oilfield to China co - ONGC-Hinduja JV loses rights to dev Iran"s oilfield to China - Hinduja Grp to invest Rs 350 cr in capacity expansion - Gulf Oil & ENIL's Q1 result - Ashok Leyland"s Pantnagar plant to be ready by March next IDL Speciality Chemicals, subsidiary of the company has entered into a definitive agreement to sell API undertaking, Gulf Oil said in a filing to the Bombay Stock Exchange (BSE). The company however has not disclosed the financial details of the transaction. API is the basic raw material used in the manufacturing of medicines. The scrip of Biocon reacted positive and surged to hit 52-weeks high at Rs 266.60 on BSE and later was trading up 1.24 per cent at Rs 262.05. Similarly, the stock of Gulf Oil Corporation hit upper limit at Rs 83 on the BSE, up 5 per cent from its previous close.


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