Auto sales zoom

New Delhi, Nov. 9: Passenger car and motorcycle sales continued to draw double-digit growth during October at 16.34 per cent and 13.16 per cent respectively on the back of festive season purchases. According to figures released by the Society of Indian Automobile Manufacturers, 92,383 passenger cars were sold in October compared with 79,407 in the same month last year. Motorcycle sales stood at 7,05,467 against 6,23,432 in the corresponding month last year.

Merieux stake

New Delhi, Nov. 9: French healthcare company Merieux Alliance has picked up a 60 per cent stake in Hyderabad-based bio-pharmaceutical firm Shantha Biotechnics to strengthen its India presence. Merieux bought the stake from Oman-based financial firms, which had invested in Shantha a few years ago.

AllBank JV

Mumbai, Nov. 9: Allahabad Bank will form a non-life joint venture insurance company with Indian Overseas Bank, Karnataka Bank, Dabur and Sompo Japan Insurance Inc. Allahabad Bank will hold a 30 per cent stake in the JV.

Essar refinery

New Delhi, Nov. 9: Essar Oil Ltd will commission its 10.5-million-tonne refinery at Vadinar in Gujarat within a fortnight, marketing head S. Thangapandian said.

Bajaj Auto

New Delhi, Nov. 9: Bajaj Auto Ltd has entered the Indonesian market with the launch of its 180 cc Pulsar DTS-I motorcycle.