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HindustanTimes Wed,03 Sep 2014

Business

Kingfisher to challenge Union Bank's decision

Hours after the Supreme Court refused to entertain a petition filed by Kingfisher Airlines against being declared wilful defaulter by Union Bank of India, the airline on Tuesday said it would 'vigorously challenge' the bank's decision.

Bajaj Auto reports 8% increase in August sales

Two-and-three wheeler manufacturer Bajaj Auto Tuesday reported an increase of 8% in its sales for August which stood at 336,840 units against 312,188 units sold in the like month of 2013.

Samsung Electronics says may acquire rest of Samsung Medison

Samsung Electronics Co Ltd said on Tuesday that it is considering acquiring the shares of unlisted medical equipment maker Samsung Medison Co Ltd that it does not currently own. It controls about 68.5% of Samsung Medison.

Banks to put mid-size, big loans under lens

With the loan books of public sector banks coming under scrutiny in the wake of the Syndicate Bank scam, top managements and even branches of state-owned lenders have decided to inspect all mid- and big-size loan books to ensure there are no discrepancies or unfair play.

Diesel deregulation on the cards; losses hit all-time low of 8p/litre

Diesel prices may soon become market-linked as in the case of petrol as deregulation looks imminent with losses of oil companies on diesel sales dropping to an all-time low of just 8 paise a litre.

United Bank declares Mallya wilful defaulter

Kolkata-based United Bank of India (UBI) on Monday declared UB Group chairman Vijay Mallya, his grounded airline Kingfisher Airlines (KFA) and three directors on its board, Ravi Nedungadi, Anil Kumar Ganguly and Subash Gupte wilful defaulters.

Rupee at two-week low of 60.68 on sustained dollar demand

The rupee hit two-week closing low of 60.68 by losing 15 paise against the dollar on consistent demand for the US currency from importers and some banks on strong global cues, continuing its downward trend for the fourth straight session.

RBI asks banks to set timeline to process loans

To expedite credit decisions, the Reserve Bank of India on Monday asked banks to set a timeline for disposal of loan proposals but did not ascribe a particular timeframe for the same.

Nifty ends above 8,000-mark for 1st time; Sensex at new peak

Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,812.69 in opening trade on Monday on the back of positive economic growth data for the April-June quarter.

Rupee down 3 paise against US dollar at 60.53

Continuing its fall for the third straight session, the rupee on Monday lost 3 paise to close at 60.53 against the US currency, following sustained dollar demand from importers amid firm cues from overseas.

Not-so achche din in China as factory output falls again

An index of growth in China's vast manufacturing sector fell from a 27-month high to 51.1 in August, a government study showed on Monday, slightly less than forecast and adding to signs of growing softness in the Chinese economy.

SpiceJet offers Rs. 499 fare on domestic network for 'Early Birds'

Country's second largest airline by market share, SpiceJet on Monday launched yet another limited period special fare scheme, 'Early Bird', offering customers ticket prices as low as Rs. 499 on its domestic network.

Ambani not part of PM’s delegation

Chairman of Reliance Industries Ltd (RIL) Mukesh Ambani is not part of the high-level business delegation accompanying PM Narendra Modi on his visit to Japan.

Maruti confident of shareholders' nod on Guj, says no plan B

Maruti Suzuki India is confident of getting minority shareholders' nod to let parent Suzuki Motor Corp own and invest in its Gujarat facility and has no second option.

Govt set to oust UPA nominees from ONGC, HPCL, MRPL boards

After re-appointing new governors of many states, the NDA government is now cleaning up the boards of top public sector units by replacing all independent directorswhose appointments were seen as 'politically motivated'.
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