Ashok Leyland (UAE) LLC (ALUAE) has bought 49 per cent equity in Avia Ashok Leyland Motors s.r.o, a Czech Republic subsidiary, as part of the latter selling its non-core assets.

According to a clarification provided by the company to Bombay Stock Exchange, “the buyer is Ashok Leyland (UAE) LLC (ALUAE), a company incorporated under the laws of Ras Al Khaimah, United Arab Emirates, in which Ashok Leyland holds 49 per cent of the equity.”

Bajaj Auto, on Tuesday, expanded its Pulsar range in the adventure sport motorcycle category, AS200 and AS150, priced at Rs 79,000 and Rs 91,550 (ex-showroom Delhi).

The Pulsar Adventure Sport series is launched targeting the young bikers, and the company will expand the category further in the next few months, said Managing Director Rajiv Bajaj. “We sell almost 60,000 Pulsars a month across categories.”

Shares of Kotak Mahindra Bank and ING Vysya Bank have touched their respective lifetime highs today ahead of record date fixed for the merger.

At 1321 hours, shares of Kotak Mahindra Bank were up 1% at Rs 1,459 on the National Stock Exchange (NSE). It opened at Rs 1,447 and hit a record high of Rs 1,475 in early morning trade.

Benchmark indices are trading marginally weak after trimming losses on gains in select index heavyweight and bank stocks as the continuing deflation in wholesale prices have raised hopes of a rate cut by Reserve Bank of India.

At 2:07PM, the 30-share Sensex and the 50-share Nifty were flat at the mark of 29,043 and 8,828 respectively.

State-owned power equipment maker BHEL has signed a Memorandum of Understanding (MoU) with a Russian company INTMA, to set up a gas-based power project in Kazakhstan.

The MoU will further help BHEL in consolidating its presence in the CIS countries, the company said.

Mumbai: On 7 April, the readers of the national dailies—The Times of India and Hindustan Times—woke up to full-page advertisements from the Delhi-based two-wheeler market leader Hero MotoCorp Ltd.

“World’s most fuel-efficient bike,” announced the advertisement featuring the Splendor iSmart, a 110cc motorcycle with a claimed mileage of 102.5 km/l.

In a new twist to the high profile SEBI-Sahara case, the Indian capital markets regulator has approached a US court with a $12 million claim on proceeds from sale of a corporate jet owned by a Sahara Group firm.

The court has rejected the demand for now, saying that the Securities and Exchange Board of India (SEBI) could not “properly file a claim prior to the Bar Date and in accordance with the terms of the Court’s order“.

Inflation data, quarterly results of bluechips like TCS and RIL are expected to keep markets volatile in a holiday-shortened week ahead, say experts. Stock markets will remain closed on Tuesday for Baba Saheb Ambedkar Jayanti.

Besides, investment trend by foreign investors, movement of rupee against dollar and crude oil prices will also dictate trends on the bourses.

After reducing its base rate by 15 basis points (bps), India’s largest lender, State Bank of India (SBI), has cut the interest rate for new home loans by another 10 bps, to 9.9 per cent.

So, in effect, the interest rate for new home loans will be reduced by 25 bps. For the existing ones, 15 bps is the reduction.

Shares of Bharat Heavy Electricals (BHEL) were up over 2% at Rs 240 after the company said it has commissioned the second unit of the 600MW thermal unit in Chhattisgarh.

The second unit was commissioned at Dainik Bhaskar Power Ltd's upcoming 2x600MW thermal power project located at Dhabra in Jangir Champa District of Chhattisgarh, the company said in a release today.

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