Sensex loses steam
Mumbai, Nov. 5: The sensex today snapped its five-day winning streak dropping by over 500 points to close at 10120.01. Other Asian bourses, however, gained on expectations that President-elect Barack Obama will bring about changes in the crisis-ridden US economy. The 30-share sensex ended in the red mainly because of heavy selling in Reliance Industries.
Chennai, Nov. 5: Hyundai Motor India is working on a “mini car” which should hit the roads by 2011. “We are developing a small car in the entry-level range,” managing director H.S. Lheem told reporters, while refusing to give the details, including the cost of the proposed car.
Mumbai, Nov. 5: Market regulator Sebi has come out with a framework for a proposed stock exchange for small and medium enterprises (SMEs). “The proposed stock exchange should be set up as a corporatised entity since inception,” Sebi said in a statement.
New Delhi, Nov. 5: NHPC has deferred its planned initial public offering till the next financial year because of the weak market conditions. “The IPO is not likely this fiscal considering the present market conditions,” a top power ministry official said.
New Delhi, Nov. 5: Ford India has launched the petrol and diesel variant of its sedan Ikon. The petrol variant is priced at Rs 4.59 lakh and the diesel variant costs Rs 5.19 lakh.