Popular Articles

FDs fall out of favour with banks
If you think your money in savings bank account will be automatically converted into fixed deposits (FDs), think again. It may just happen that while you are thinking the idle cash may earn 6-6.5 per cent a year, the prevailing fixed-deposit rate for one-year funds, it may actually continue to fetch only 3.5 per cent.

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Short-term support expected at 5,000, resistance above 5,200
The Nifty closed above 5,000 due to short-covering on healthy GDP numbers for the September quarter and easing of concerns about the debt default in Dubai. The Nifty December futures saw short-covering above 5,030 and there was long build-up below 5,010. In the end, futures shed 813,250 shares in open interest (OI) and closed at four points premium to the spot, indicating unwinding of short positions.

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Pruned hedges
Hedge funds: Hedge funds are back in the land of the living. After a dismal 2008, they had a strong first half. Of course, rising markets aided them. But it helps that because of losses, withdrawals and, above all, a huge reduction in leverage, they wield only about a quarter of the nearly $10 trillion firepower they used to put to work. So trades are less crowded – and more profitable.
Public Relations

Ashok Leyland working on better bus platform

Ashok Leyland is working on a new bus platform, which “will offer a higher level of comfort and safety in public transportation”, says R Seshasayee, managing director. Its portfolio includes high-floor buses comprising the Viking & Cheetah series, vestibule and double-decker buses, semi-low-floor buses, and airport transfer air-conditioned coaches. Seshasayee was speaking on the sidelines of the launch of the company’s U-Truck series. - "We expect 15-20% of mkt in 5 years" - Auto firms lead investments in TN - Ashok Leyland to roll out 25 products in 18 months - Mahindra to trump Ace with Maxximo - CV sales likely to rise in coming months - ONGC, partners to invest over Rs 46,000 cr in Iran Ashok Leyland, which entered into a 50:50 joint venture with US-based John Deere Construction & Forestry Company in 2008, will commence the manufacture of backhoes, wheel loaders and excavators in January 2011 for both the domestic and export market. “We have identified the land for this joint venture close to Chennai,” says Seshasayee. On the company’s foray into light commercial vehicles (LCVs) through a joint venture with Nissan, Seshasayee says the LCVs will be rolled out both from Leyland’s plant at Hosur and from Nissan Renault’s upcoming plant on the outskirts of Chennai, which constitute the first phase. “In the second phase, we would roll out LCVs from the JV’s new plant, which is also located close to Chennai.” It is a 51:49 JV, named Ashok Leyland and Nissan Vehicles Pvt Ltd. On branding, Seshasayee said there will be no dual branding. “LCVs carrying the Ashok Leyland brand will be positioned as value propositions, while those badged as Nissan will be positioned in the premium segment. On the distribution aspect, there could be shared dealerships. The LCVs will be available in the commercial market from 2011.


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